Japan Gold (TSXV: JG) this morning announced that it will be conducting a private placement. The firm currently is looking to raise total gross proceeds of C$15.0 million via a non-brokered financing.
Under the terms of the financing, the company intends to sell 42.9 million common shares of the issuer at a price of $0.35 per share. No warrant is being offered under the financing.
Proceeds of the financing are to be used for drilling and advanced exploration at two of the firms projects, Ikutahara and Ohra-Takamine. Funding is also to be used for general working capital purposes.
Timing for the closing of the financing was not provided by the company.
Japan Gold last traded at $0.37 on the TSX Venture.
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