1911 Gold Corp (TSX-V:AUMB, OTCQB:AUMBF, FRA:2KY) has filed a preliminary short form prospectus with Canadian securities commissions in connection with a public offering of common shares, including several categories of flow-through shares, the company said.
The company plans to use net proceeds to fund exploration and development at its True North Gold Project in Manitoba, technical studies, and general working capital.
The offering includes common shares, two series of flow-through shares tied to Canadian exploration expenses, and a fourth tranche linked to Canadian development expenses. Final pricing and share counts will be set at the time of the underwriting agreement.
Underwriters have been granted a 30-day over-allotment option to purchase up to 15% of the offered securities, exercisable in whole or in part following closing.
Flow-through share subscribers will receive renounced Canadian exploration or development expenses under the Income Tax Act, with CEE Series 1 subscribers also eligible for Manitoba provincial flow-through mining expenditure treatment where applicable.
The offering is expected to close by June 30.