Sassy Resources (CSE:SASY, OTCQB:SSYRF) Corporation announced that the first tranche of its non-brokered private placement to raise funds for exploration at the Westmore gold discovery has generated over $3.2 million.
The junior resource firm issued 16,564,925 common shares with no warrants attached for gross proceeds of $3,230,160.
The second tranche is expected to close shortly, according to Vancouver-based Sassy.
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Sassy told shareholders that it plans to use the proceeds from the placement for upcoming drilling and exploration at its 100%-owned Foremore project in northwest British Columbia, where the focus will be on advancing the high-grade Westmore gold discovery. Additional funds will be used for general corporate purposes.
The company paid total finder's fees of $45,040 and 230,974 finder's warrants to Haywood Securities Inc, Canaccord Genuity (TSX:CF, LSE:CF) Corp and Research Capital Corporation. The finder's warrants are non-transferable and exercisable at a price of $0.195 per warrant for 12 months from the date of issuance.
Sassy is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal and base metal projects in North America.
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