Gold Basin Resources Corporation (TSX-V:GXX) said it has closed the second and final tranche of its private placement to raise C$1.52 million gross to fund ongoing exploration, pay accrued expenses and for working capital.
The non-brokered fundraise had intended to raise C$0.55 million but the financing was oversubscribed.
Charles Straw, president of Gold Basin, said: “The oversubscribed financing, which was strongly supported by Australian investors, sets the stage for catalyst rich Q2. The company is looking forward to a very productive 2024 with the focus of rapidly advancing the Gold Basin oxide gold asset.”
A total of 15,220,303 units were issued at a price of C$0.10 apiece, with each consisting of one common share and one-half of one transferable common share purchase warrant entitling the holder to buy a share at an exercise price of $0.15 per share for a period of one year.
Gold Basin is advancing the 42 sq km Gold Basin project in the Mohave County jurisdiction in Arizona, USA, not far from Las Vegas.