Precore Gold Secures Funding Through Private Placement Success
Precore Gold Announces Successful First Tranche of Private Placement
Precore Gold Corp. (CSE: PRCG) is thrilled to reveal the completion of the first tranche of its non-brokered private placement, amounting to C$1,000,029.60. This significant milestone demonstrates the confidence investors have in Precore Gold’s value and future potential.
Details of the Private Placement
The first tranche involved the sale of 5,555,720 units at $0.18 each. Each unit comprises one common share and one-half purchase warrant, allowing holders the option to buy additional shares for a period of 36 months at a lift price of $0.25. Such structured financing provides a robust opportunity for strategic growth.
Utilization of Proceeds
The funds from this placement are earmarked for exploration initiatives and working capital. By investing in exploration, Precore Gold aims to enhance its resource base and uncover new growth avenues.
Involvement of Company Insiders
In a show of confidence, certain directors and officers participated in the private placement by subscribing to 213,500 units. These transactions are considered related party transactions but are compliant with regulatory standards outlined in Multilateral Instrument 61-101.
Future Steps and Expected Developments
Looking ahead, Precore Gold anticipates completing the second tranche of this private placement by early October. With the total placements expected to reach approximately C$2,000,000, these efforts will install the company with the capital necessary to drive its exploration agenda forward.
Financial Advisory Role
The company is collaborating with Canaccord Genuity Corp., who serves as the financial advisor throughout this process. Their expertise lends additional strength to the overall financing strategy.
About Precore Gold Corp.
Precore Gold is committed to realizing its vision as a robust junior gold exploration entity. Focused on securing high-potential projects in mining-friendly jurisdictions, the company aims to capture opportunities where strong historical data supports potential discoveries. Governance and ESG factors remain central to its mission, ensuring responsible practices.
Get in Touch
For more inquiries, shareholders can connect with Paul A. Dumas, Executive Chairman. He is reachable via email at precoregoldcorp@gmail.com or by phone at 514-994-1069. More about the company can also be found at www.precoregold.com.
Frequently Asked Questions
What is the total amount raised in the first tranche?
The first tranche raised a total of C$1,000,029.60.
How many units were sold in this placement?
A total of 5,555,720 units were sold during the first tranche.
What is the price per unit for the private placement?
The price per unit for the private placement was set at C$0.18.
When is the second tranche expected to close?
The second tranche is anticipated to be completed on or before early October.
Who is advising Precore Gold during this process?
Canaccord Genuity Corp. is serving as the financial advisor for the private placement.
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