Gold79 Closes Oversubscribed Final Tranche of Upsized Private Placement for Gross Proceeds of $6,110,000
Gold79 Mines has successfully closed the final tranche of its oversubscribed non-brokered private placement, raising total gross proceeds of $6,110,000 through the issuance of 24,440,002 units at $0.25 per unit. The final tranche raised $610,000 through 2,440,000 units. Each unit includes one common share and one-half common share purchase warrant, with warrants exercisable at $0.40 per share until November 22, 2026. Proceeds will fund exploration at the Gold Chain, Arizona project and Jefferson North, Nevada project, property payments, and working capital. The offering includes callable warrant provisions if share prices exceed $0.60 for ten consecutive trading days.
Gold79 Mines ha chiuso con successo l'ultima tranche del suo collocamento privato non intermedia, sovrascritto, raccogliendo proventi lordi totali di $6.110.000 attraverso l'emissione di 24.440.002 unità a $0,25 per unità. L'ultima tranche ha raccolto $610.000 attraverso 2.440.000 unità. Ogni unità include una azione comune e una mezza opzione di acquisto di azioni comuni, con le opzioni esercitabili a $0,40 per azione fino al 22 novembre 2026. I proventi finanzieranno l'esplorazione del progetto Gold Chain in Arizona e del progetto Jefferson North in Nevada, pagamenti di proprietà e capitale circolante. L'offerta include disposizioni per opzioni richiamabili se i prezzi delle azioni superano $0,60 per dieci giorni di negoziazione consecutivi.
Gold79 Mines ha cerrado con éxito la última tranche de su colocación privada no intermedia, sobre suscrita, recaudando un total de $6,110,000 mediante la emisión de 24,440,002 unidades a $0.25 por unidad. La última tranche recaudó $610,000 a través de 2,440,000 unidades. Cada unidad incluye una acción ordinaria y media opción de compra de acciones ordinarias, con opciones ejercitables a $0.40 por acción hasta el 22 de noviembre de 2026. Los ingresos financiarán la exploración del proyecto Gold Chain en Arizona y del proyecto Jefferson North en Nevada, pagos de propiedades y capital de trabajo. La oferta incluye disposiciones de opciones llamables si los precios de las acciones superan $0.60 durante diez días de negociación consecutivos.
Gold79 Mines는 성공적으로 신청이 과다한 비중개 사모 배치의 마지막 분배를 마감하고, $6,110,000의 총 매출을 $0.25에 24,440,002 유닛을 발행하여 모금했습니다. 마지막 분배는 2,440,000 유닛을 통해 $610,000를 모금했습니다. 각 유닛은 하나의 보통주와 보통주 구매 보증서의 반개를 포함하며, 보증서는 2026년 11월 22일까지 주당 $0.40에 행사 가능합니다. 수익금은 아리조나의 Gold Chain 프로젝트와 네바다의 Jefferson North 프로젝트에 대한 탐사, 부동산 비용 및 운영 자본을 자금을 지원합니다. 제공에는 주가가 10일 연속 거래일 동안 $0.60를 초과할 경우 호출 가능한 보증 조항이 포함됩니다.
Gold79 Mines a réussi à clore la dernière tranche de son placement privé non intermédié sursouscrit, levant des produits bruts totaux de $6,110,000 grâce à l'émission de 24,440,002 unités à 0,25 $ par unité. La dernière tranche a levé 610 000 $ via 2,440,000 unités. Chaque unité comprend une action ordinaire et un demi-bon de souscription d'actions ordinaires, avec des bons exerçables à 0,40 $ par action jusqu'au 22 novembre 2026. Les recettes financeront l'exploration du projet Gold Chain en Arizona et du projet Jefferson North au Nevada, ainsi que des paiements fonciers et du fonds de roulement. L'offre comprend des dispositions de bons rappelables si les prix des actions dépassent 0,60 $ pendant dix jours de négociation consécutifs.
Gold79 Mines hat erfolgreich die letzte Tranche seiner überzeichneten nicht-brokerierten Privatplatzierung abgeschlossen und insgesamt brutto $6.110.000 durch die Ausgabe von 24.440.002 Einheiten zu je $0,25 pro Einheit gesammelt. Die letzte Tranche brachte $610.000 durch 2.440.000 Einheiten ein. Jede Einheit umfasst eine Stammaktie und ein halbes Kaufwarrant für Stammaktien, wobei die Warrants zu $0,40 pro Aktie bis zum 22. November 2026 ausgeübt werden können. Die Erlöse werden die Erkundung des Gold Chain-Projekts in Arizona und des Jefferson North-Projekts in Nevada, Grundstückszahlungen und Betriebskapital finanzieren. Das Angebot enthält rückrufbare Warrant-Bestimmungen, falls die Aktienkurse zehn aufeinanderfolgende Handelstage lang $0,60 übersteigen.
- Raised $6.11M, exceeding target of $6M, indicating strong investor interest
- Warrants priced at $0.40, representing 60% premium to unit price
- Secured funding for exploration activities at Gold Chain and Jefferson North projects
- Potential dilution from 24.44M new units issued
- Additional dilution possible from 12.22M warrants if exercised
Ottawa, Ontario--(Newsfile Corp. - November 22, 2024) - Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) ("Gold79" or the "Company") is pleased to announce the closing of the final tranche of its previously announced
"This final tranche, which was oversubscribed, strengthens Gold79's position as it accelerates exploration and pursues opportunities to enhance shareholder value in a rising gold price environment," stated Quentin Mai, President of Gold79.
Gross proceeds from the final tranche were
The warrants contain provisions that prohibit the exercise by the holder, together with its affiliates, which would result in the holder, together with its affiliate, beneficially owning in excess of
Details of the first tranche closing of the Offering were included in Gold79's press release dated October 10, 2024 and details of the second tranche closing of the Offering were included in Gold79's press release dated November 18, 2024.
No finder fees were paid in connection with the final tranche of the Offering. In connection with the first and second tranche closing of the Offering, cash finder's fees of
This Offering is subject to the final approval of the TSX-V. All securities issued in the final tranche of the placement are subject to a statutory hold period until March 23, 2025.
Proceeds raised in the placement will be used for exploration expenditures related to the Gold Chain, Arizona, project; property claim costs and contractual property payments; costs associated with the transaction with Bullet Exploration Inc. ("Bullet"), assuming the closing of the transaction with Bullet, exploration expenditures related to the Jefferson North, Nevada project; and, for working capital and general corporate purposes.
None of the securities to be issued in the Offering have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to or for the account or benefit of U.S. persons, except in certain transactions exempt from the registration requirements of the U.S. Securities Act. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities of the Company in the United States.
About Gold79 Mines Ltd.
Gold79 Mines Ltd. is a TSX-V listed company focused on building ounces in the Southwest USA. Gold79 has four gold projects, two of which are partnered with major gold producers (Kinross at Jefferson Canyon and Agnico at Greyhound). Gold79 is focused on establishing a maiden resource at its Gold Chain project in Arizona and advancing its Tip Top Project in Nevada.
For further information regarding this press release, contact:
Quentin Mai, President, Gold79
Phone: 604-638-5622
Email: quentin@gold79mines.com
Or
Derek Macpherson, Executive Chairman and CEO, Gold79
Phone: 416-294-6713
Email: dm@gold79mines.com
Or
Investor Relations
Kin Communications Inc.
604-684-6730
Auu@kincommunications.com
Stay Connected with Us:
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LinkedIn: https://www.linkedin.com/company/gold79-mines-ltd/
FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including the proposed transaction with Bullet Exploration Inc., any future private placements, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company's future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents, which can be found on SEDAR at www.sedarplus.ca. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR
FOR DISSEMINATION TO U.S NEWS WIRE SERVICES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231114
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