Prosper Gold Corp. Secures Funding to Advance Cyprus Project
Prosper Gold Corp. Completes Successful Private Placement
Prosper Gold Corp. (TSXV: PGX) has recently announced the successful closure of its non-brokered private placement financing. This financing, now known as the Financing, has paved the way for an influx of funds, emphasizing Prosper Gold's commitment to advancing its exploration projects.
Details of the Financing Arrangement
The Financing comprised a total of 5,700,000 Units, each priced at $0.10, resulting in gross proceeds amounting to $570,000 for the company. Each Unit is structured to include one common share alongside a purchase warrant, granting investors the opportunity to acquire additional shares at a price of $0.20 per share over a period of 24 months following the closing of the placement.
Broker Warrants and Fees
The successful Execution of the Financing also involved the payment of cash fees totaling $27,650, in addition to the issuance of 276,500 common share purchase Broker Warrants. Each of these warrants will be non-transferable and shares a similar exercise period of 24 months at the designated Warrant Exercise Price.
Funding Utilization and Corporate Goals
The net proceeds from this Financing will be strategically funneled towards essential exploration activities at the company’s Cyprus Project. Furthermore, these funds will serve broader objectives, including working capital and other corporate purposes, underscoring Prosper Gold's intent to enhance its operational capabilities.
Investor Considerations and Hold Period
Investors should note that all securities issued under this Financing will be subject to a hold period lasting four months and one day, adhering to applicable securities regulations. It is important to clarify that these securities are not registered under the United States Securities Act of 1933, thus reinforcing the company’s compliance with legislation.
Commitment to Transparency
In their commitment to transparency, Prosper Gold Corp. has the option for potential investors to learn more about the company's comprehensive strategies and exploration plans by visiting their official website, further enhancing investor confidence.
Message from Leadership
Peter Bernier, the President and CEO of Prosper Gold Corp., emphasizes the dedication of the company's leadership team to spearheading progress in exploration endeavors. His contact information is readily provided for stakeholders desiring more insight.
Frequently Asked Questions
What are the main objectives of the recent private placement?
The proceeds will primarily support exploration activities at the Cyprus Project and cover general working capital.
How many units were offered in the Financing?
A total of 5,700,000 Units were offered, providing significant capital for the company.
What is the exercise price for the purchase warrants?
The purchase warrants allow the acquisition of common shares at an exercise price of $0.20.
What is the duration of the hold period for the securities?
All securities issued are subject to a hold period of four months and one day.
Who should investors contact for more information?
Investors can reach out to Peter Bernier, the President & CEO, for further details on the company and its initiatives.
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