HighGold Mining Inc (TSX-V:HIGH, OTCQX:HGGOF) has said that, due to strong investor interest, it is increasing the size of its previously announced non-brokered private placement to gross proceeds of up to C$9 million from gross proceeds of up to C$7 million.
As a result, the maximum number of shares to be issued under the offering has been increased from 10,606,060 common shares to up to 13,700,000 common shares of the company at a price of $0.66 per common share.
The net proceeds of the offering are expected to be used for exploration and development initiatives in connection with the company's Johnson Tract project and for working capital and general corporate purposes. The company may pay finder's fees on all or a portion of the offering.
READ: HighGold Mining plans to raise gross proceeds of up to C$7M in a non-brokered private placement
The offering is now expected to close on or about April 11, 2023, or such other date as may be determined by the company and is subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals, including the final approval of the TSX Venture Exchange (TSXV) and applicable securities regulatory authorities.
All securities issued in connection with the offering will be subject to a standard four-month and a-day hold period in Canada.
HighGold is a mineral exploration company focused on high-grade gold projects located in North America. HighGold's flagship asset is the high-grade Johnson Tract Gold-Zinc-Copper Project located in accessible Southcentral Alaska, USA.
The company also controls one of the largest junior gold miner land positions in the Timmins, Ontario gold camp. This includes the Munro-Croesus Gold property, which is renowned for its high-grade mineralization, and the large Golden Mile and Timmins South properties.
HighGold also has 100% ownership of a group of properties in Yukon's emerging new Selwyn Basin Reduced Intrusive Related Gold district.
Contact the author at jon.hopkins@proactiveinvestors.com