MAS Gold Corp (TSX-V:MAS, OTCQB:MSGCF) has updated the terms for its non-brokered private placement that was originally announced on May 5 this year.
The private placement financing will now raise a minimum of $1.5 million and up to a maximum of $3 million through the sale of units of the company at a price of $0.08 each, the company said.
Each unit contains one common share and one share purchase warrant. Warrants are exercisable at a price of $0.20 for two years following the offering.
READ: MAS Gold encouraged by early drill results from North Lake deposit in Saskatchewan
MAS Gold plans to use the net proceeds to advance its portfolio of prospective projects, as well as for working capital requirements and other general corporate purposes.
The offering is subject to approval from the TSX Venture Exchange, the company note.
MAS Gold Corp (TSX-V:MAS, OTCQB:MSGCF) is a Canadian mineral exploration company focused on exploration projects in the prospective La Ronge Greenstone Belt of Saskatchewan. In the belt, MAS Gold Corp (TSX-V:MAS, OTCQB:MSGCF) operates the Greywacke, North Lake and Point advanced gold projects, each hosting drill-intercepted zones of gold mineralization.
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