MAS Gold Corp. (TSX-V:MAS) said it has completed a non-brokered private placement financing, issuing 350,000 common shares of the company for proceeds of $36,750.
The company said the net proceeds of the private placement will be used for working capital requirements and other general corporate purposes.
The private placement is subject to the final acceptance of the Toronto Venture Exchange and the securities issued will be subject to a statutory four-month and one-day hold period.
READ: MAS Gold acquires 100% interest in historical producer Contact Lake Gold Mine in Saskatchewan
Last month, MAS Gold announced plans to acquire a 100% interest in the formerly producing Contact Lake Gold Mine in Saskatchewan.
The 463-hectare property, located in the highly prospective La Ronge Greenstone Belt in the province, was mined from 1994 to 1997 by owners Cameco Corporation. The company has entered into an agreement with the province of Saskatchewan to transfer the property into the junior resource company’s care.
Vancouver-based MAS Gold is a Canadian mineral exploration company focused on exploration projects in the prospective La Ronge Greenstone Belt of Saskatchewan.
In the belt, the company operates the Greywacke, North Lake and Point advanced gold projects, each hosting drill-intercepted zones of gold mineralization.
MAS Gold's NI 43-101 Technical Report of June 1, 2016, concerning the Greywacke deposit is available on MAS Gold's website: www.masgoldcorp.com
Contact the author at jon.hopkins@proactiveinvestors.com