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Lincoln Gold Mining and Eros Resources have extended the deadline for their Bell Mountain gold project transaction to November 15, 2024. The acquisition, initially agreed upon in November 2023, is still subject to several conditions, including the completion of a Preliminary Economic Assessment (PEA) and final approval from the TSX Venture Exchange. A draft PEA was completed on August 7, 2024, by Welsh Hagen Associates and is currently under review. The transaction involves Lincoln's proposed acquisition of Eros' Bell Mountain gold project in Churchill County, Nevada. Both companies are working towards satisfying the remaining conditions to complete the deal.
Lincoln Gold Mining has upsized its private placement offering from $750,000 to $862,500 due to strong investor demand.
The company will issue up to 3,450,000 units at $0.25 per unit, each comprising one common share and one-half of a warrant exercisable at $0.50 for 12 months.
The first tranche raised $206,000, with the remaining expected to close in early July 2024, pending regulatory approvals.
Proceeds will fund general expenses and the Bell Mountain gold project's acquisition. If the acquisition fails, funds may be reallocated for other corporate uses.
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