Sassy Resources (CSE:SASY, OTCQB:SSYRF) Corporation has closed the second and final tranche of its oversubscribed non-brokered private placement, raising additional gross proceeds of $404,750 through the issuance of 2,075,641 common shares at 19.5 cents per share.
The junior resource firm said the total gross proceeds raised in both tranches is $3,634,910.
“This strategic hard dollar placement has brought several very motivated key new investors into Sassy as we prepare to take the Westmore high-grade gold discovery to a new level and rebrand the company as ‘Sassy Gold’ during the second half of July,” Sassy CEO Mark Scott said in a statement.
READ: Sassy Resources raises $3.2M via first tranche of private placement to advance work on Westmore gold discovery in BC
Proceeds from the private placement will be used for upcoming drilling and exploration at its 100%-owned Foremore Project in northwest British Columbia’s Eskay Camp, where the focus will be on advancing the high-grade Westmore gold discovery, and for general corporate purposes.
Sassy paid total finder’s fees of $19,792.50 and 101,500 finder’s warrants for the second tranche to PI Financial Corp. 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.
All securities issued are subject to a four-month hold period as per Canada’s securities laws, which expires on November 14, 2022.
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 with a focus on the Foremore Project. Sassy is also earning up to a 100% interest in the Highrock Uranium Project in the Key Lake region of Saskatchewan, and significant equity positions in Gander Gold Corp, Galloper Gold Corp, and MAX Power Mining Corp.
Contact the author at jon.hopkins@proactiveinvestors.com