Grande Portage Raises $3.8 Million In Private Placement

Grande Portage Resources (TSXV: GPG) yesterday announced the closing of their previously announced financing. The financing saw the company raise total proceeds of $3.8 million via series of tranches.

Under the terms of the financing, a total of 7.8 million units of the company were sold at a price of $0.48 per unit. Each unit contained one common share and one half of a common share purchase warrant. Each warrant is valid for a period of two years from the date of issuance and contains an exercise price of $0.72 per share.

Proceeds from the offering are to be used for exploration activities at the firms Herbert Gold project in Alaska, as well as for general corporate purposes.

Grande Portage Resources last traded at $0.71 on the TSX Venture.


FULL DISCLOSURE: Grande Portage Resources is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Grande Portage Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Mergers Set the Stage for Uranium’s Growth Cycle | Forum-Baselode Merger

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Recommended

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

Related News

Wesdome Sells Moss Lake Property To Goldshore Resources For $57 Million

Wesdome Mines (TSX: WDO) has elected to monetize its Moss Lake Project located in Ontario....

Tuesday, January 26, 2021, 08:59:26 AM

Elevation Gold Sees Q3 2021 Revenue Decline To US$12.1 Million

Elevation Gold Corp. (TSXV: ELVT) announced on Friday its financial results for the quarter ending...

Monday, November 29, 2021, 11:33:00 AM

People’s Bank of China Adds 15 Tonnes Of Gold To Reserves

China’s central bank bought even more gold last month, as it looks to strengthen the...

Wednesday, February 8, 2023, 03:00:00 PM

Gold Sent Soaring Following Awful Non-Farm Payroll Data

It appears things might be finally hitting the fan this morning so to speak. Gold...

Friday, September 3, 2021, 08:53:37 AM

West Red Lake Gold Hits 77.87 g/t Gold Over 1.9 Metres At Rowan Mine

West Red Lake Gold Mines (CSE: RLG) yesterday had a midday news release. The news...

Friday, October 15, 2021, 07:33:03 AM