GGX Gold Corp (CVE:GGX, OTCQB:GGXXF) told investors it had closed the first and second tranches of a previously announced placing to raise gross proceeds of C$362,000.
The resource company said it now had sufficient funds to complete its planned summer exploration program on the Gold Drop property near Greenwood in British Columbia.
The group is carrying out an extensive trenching and drill program in the spring and summer this year.
The group said a total of C$162,000 was raised for the first tranche and C$200,000 for the second tranche.
According to the terms of the placement, each flow-through unit consisted of one common share that qualifies as a flow-through share and one non-transferable common share purchase warrant.
Each whole warrant entitles the holder to purchase, for a period of 12 months from the date of issue, one additional non-flow-through common share of the issuer at a price of C$0.15 per share.
GGX Gold shares are at C$0.075 in Toronto.