TomaGold Corporation (CVE:LOT) (OTCMKTS:TOGOF) (FRA:OTM) completed a second closing of a non-brokered private placement to help advance exploration at its Quebec mineral portfolio.
The Montreal-based explorer issued just over 1.9 million units priced at C$0.08 and an additional 850,000 flow-through units priced at $0.10 for total proceeds of nearly $240,000.
The second closing is coupled with another late-December financing that raised nearly $869,500.
READ: TomaGold closes non-brokered private placement for aggregate gross proceeds of $869,500
Each non-flow-through unit consists of one share and one warrant exercisable at $0.12 for a 24-month period, while the flow-through units consist of one share and one half warrant exercisable at $0.15 for a 24-month period.
TomaGold’s portfolio includes five gold properties near the Chibougamau mining camp in northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Lac Doda. The company also has a joint venture with Evolution Mining Ltd (ASX:EVN) (OTCMKTS:CAHPF) (FRA:WE7) and New Gold Inc (TSE:NGD) (NYSEAMERICAN:NGD) (FRA:32N) , through which it holds a 24.5% interest in the Baird property, near the Red Lake mining camp in Ontario.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas