Steppe Gold Ltd (TSX:STGO, OTCQX:STPGF) announced a non-brokered private placement of approximately $9 million through the sale of shares at $1.10 each.
The company said in a statement that the proceeds will be used to accelerate Phase 2 expansion underway at its ATO mine in Mongolia, to fund ongoing exploration, and to support its plans to pursue a dual listing on the Hong Kong Stock Exchange.
The private placement is anticipated to close on or about May 2, 2023, or at a later date determined by the company.
Steppe Gold is Mongolia’s premier precious metals company.
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