Taiga Gold (CSE: TGC) this morning announced the closing of a flow through private placement. The financing saw gross proceeds of $2.5 million raised for the firm.
Under the terms of the financing, flow through units were sold at a price of $0.20 per each, with each unit containing one flow through common share and one common share purchase warrant. Each warrant is valid for a period of 30 months from the date of issuance, and contains an exercise price of $0.30 per share. A total of 12.5 million flow through units were sold/
Notably, an acceleration clause is present on the warrants, enabling the company to accelerate the expiry in the event that the company trades above $0.60 per share for ten consecutive trading days.
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Proceeds from the financing are to be used for exploration purposes at the firms Fisher, Orchid, and Mari Lake projects in Saskatchewan.
Taiga Gold last traded at $0.185 on the CSE.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
