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Golden Dawn Minerals Inc. (TSXV:CXG)(OTC PINK:GDMRF)(FRANKFURT:3G8B), known as Canxgold Mining Corp., is facing challenges due to an enforcement action by its senior secured creditor, RIVI Opportunity Fund LP. The British Columbia Supreme Court granted an order against the company and its subsidiaries, resulting in a judgment of USD$4,470,913.54 as of March 31, 2023. Despite efforts to reach an agreement with RIVI, business operations have been suspended pending further direction from the board of directors. The company's management and board members have resigned in light of recent developments.
CanXGold Mining Corp. (OTC PINK: GDMRF) announced a non-brokered private placement of 30 million units at $0.025 each, aiming to raise $750,000. Each unit includes a common share and a warrant, with exercise at $0.05 for 60 months. Additionally, up to 20 million flow-through units will be offered at $0.08, raising $1.6 million. The proceeds will support drilling at the Phoenix property and maintain the Lexington project. Approvals from the TSX Venture Exchange are pending.
CanXGold Mining has initiated a drill program at its Phoenix Property in the Greenwood Precious Metals project, covering approximately 9,817 hectares with a history of extensive mineralization. The first drill hole is targeting a 1 km diameter conductivity anomaly identified in a recent VTEM survey, located near the historic Phoenix mine, as drilling progresses. The company, aiming for near-term gold production, highlights historical mining records that require verification. Currently, shares are trading at $0.06.
Golden Dawn Minerals has initiated drilling at its Phoenix Property within the Greenwood Precious Metals project, located in southeastern BC. The drilling targets several anomalies detected from last year’s airborne VTEM geophysical survey, focusing on areas of high conductivity and historical skarn copper-gold deposits. The first drilling site is near the historic Phoenix mine, aiming to explore a large 1 km diameter conductivity anomaly. Historical drilling in this area has yielded promising mineralization results, including high grades of copper and gold.
Golden Dawn Minerals Inc. has announced its name change to CanXGold Mining Corp. effective September 22, 2022. This change follows the final approval from the TSX-Venture Exchange. The company will trade under the new ticker symbol TSX-V:CXG. Importantly, there is no change in share capital, and no action is required from existing shareholders regarding new share certificates. The new CUSIP and ISIN numbers have been issued for the company.
Golden Dawn Minerals Inc. has announced a name change to CanXGold Mining Corp. effective September 21, 2022, with a new ticker symbol, TSX-V: CGX. Existing shareholders will not need to take any action, as there is no change in share capital.
The company has also secured $300,000 in a loan agreement for general working capital and drilling on the Phoenix Property, with a one-year term at an interest rate of 12.0% per annum, and has issued 800,000 bonus shares.
Golden Dawn Minerals Inc. (GDMRF) announced a private placement financing totaling $232,500, comprising 3,100,000 units at $0.075 per unit. Each unit includes one common share and a transferable purchase warrant, allowing for an additional share purchase at $0.10 within 36 months. Proceeds will fund the Lexington project and other exploration activities in British Columbia, alongside general working capital. This financing is subject to final approval from TSX-V.
Golden Dawn Minerals Inc. announced the successful closing of a private placement raising $350,000 by offering 2,333,333 units at $0.15 each. Each unit comprises one common share and a warrant exercisable at $0.30 for 18 months. Funds will be used for exploration and general working capital, specifically for the Lexington project. Additionally, the company made a CDN $500,000 payment to Rivi Opportunity Fund towards a promissory note as part of a debt reorganization agreement. The private placement is pending final approval from the TSX-V.
Golden Dawn Minerals has announced a non-brokered private placement of 2,333,333 units at $0.15 per unit, aiming for gross proceeds of $350,000. Each unit includes one common share and a warrant, exercisable at $0.30 for 18 months. The funds will support exploration and maintenance of the Lexington project and other mineral endeavors in BC, as well as general working capital. All securities will have a hold period of four months and one day post-closing, subject to TSXV approval.
Golden Dawn Minerals (OTC PINK:GDMRF) has announced the receipt of airborne geophysical survey results for its Greenwood Precious Metals project in British Columbia. Conducted by Geotech Ltd., the survey identified numerous geophysical anomalies, indicating potential high-priority mineral targets. With drill permits now secured, the company plans to commence drilling in October. The exploration program aims to target significant copper-gold deposits, including skarn and porphyry types, with promising extensions identified in existing properties. Historical records noted require further verification.
Golden Dawn Minerals Inc. has announced the appointment of Beat Frei as the new Vice President of Finance and Business Development. Frei, who previously worked at Champion Iron Ltd., brings over 20 years of financial expertise, including significant experience at Credit Suisse. Additionally, the company has arranged a non-brokered private placement of 935,453 units at $0.2138 per unit, raising $200,000 for exploration and working capital. This capital will primarily support the Lexington project and other mineral exploration efforts in BC.
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