Newcore Gold Elevates Capital Through Expanded Financing Deal
Newcore Gold Expands Private Placement Financing
Newcore Gold Ltd. (TSX-V: NCAU, OTCQX: NCAUF) is excited to share that it is enhancing the terms of its non-brokered private placement financing. This financing initiative is part of the Listed Issuer Financing Exemption. Originally, the plan was to raise $5 million, but now the company aims to secure up to $5.5 million from the sale of up to 18,965,518 units at a price of $0.29 per unit. The securities offered will not be subject to a hold period, in line with Canadian securities regulations.
Structure of the Offering
Each unit consists of one common share of Newcore Gold and one-half of a common share purchase warrant. A whole warrant grants the holder the right to purchase one additional common share at an exercise price of $0.40 for a year from the conclusion of the offering.
Utilization of Funds
The proceeds from this offering are intended to support exploration and development activities at the company’s fully-owned Enchi Gold Project located in Ghana. Furthermore, these funds will assist with general corporate needs and working capital requirements. Finder’s fees may apply per TSX Venture Exchange policies.
Timeline for Closing
The offering is anticipated to close around September 26, 2024, pending specific conditions such as necessary regulatory approvals. This financing initiative is exclusive to investors in Canada, with the exception of Quebec, thanks to the listed issuer financing exemption.
About Newcore Gold
Newcore Gold is making strides with its Enchi Gold Project, situated in Ghana, known as Africa's leading gold producer. The company offers a compelling opportunity for investors, featuring strong leadership aligned with shareholders through substantial equity ownership. The Enchi project spans 248 km2 and includes a significant land package along the Bibiani Shear Zone, which is home to numerous gold deposits, including the Chirano mine located 50 kilometers to the north. Newcore’s mission is to establish a dynamic and effective gold company that delivers exceptional returns to its shareholders.
Contact Information
For additional information about Newcore Gold, please reach out to:
Mal Karwowska | Vice President, Corporate Development and Investor Relations
+1 604 484 4399
info@newcoregold.com
Frequently Asked Questions
What is the purpose of the expanded financing by Newcore Gold?
The funding will be used for exploration and development activities for the Enchi Gold Project in Ghana and for general corporate purposes.
What will each unit in the private placement financing consist of?
Each unit will consist of one common share and one-half of a common share purchase warrant.
What is the price of each unit being offered?
The units are priced at $0.29 each.
When is the offering expected to close?
The offering is expected to close around September 26, 2024.
What regulatory body needs to approve the financing?
The financing is subject to approval from the TSX Venture Exchange.
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