GGX Gold Corp said it has arranged a non-brokered private placement of up to 5 million flow-through shares at a price of $0.15 per share for gross proceeds of $750,000.
The company said proceeds from the private placement will be used for continued exploration work on the Gold Drop Property in the Greenwood mining camp of south-central British Columbia.
Each flow-through unit in the placement will comprise one common share (which is a flow-through share for Canadian income tax purposes) and one share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at the price of $0.20 for 18 months after closing.
READ: GGX Gold announces plans for 2022 exploration program at Gold Drop property in British Columbia
A finder's fee may be paid to eligible finders in accordance to the Toronto Venture Exchange (TSX-V) policies.
All securities issued under the offering will be subject to a hold period of four months and one day from the date of closing.
The offerings and payment of finders' fees are both subject to approval by the TSX-V.
GGX Gold said directors, officers or other insiders of the company may participate in the foregoing offerings.
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