Lincoln Gold Mining Inc. (TSXV: LMG) today announced a non-brokered private placement offering of up to 4,167,000 units of the company priced at $0.18 per unit. The offering is anticipated to raise gross proceeds of up to $750,000.
Each respective unit will consist of one common share in the capital of Lincoln and one common share purchase warrant. Each warrant entitles the bearer to purchase one additional common share at a price of $0.25 for a period of 36 months from the closing of the private placement.
The net proceeds from the offering will be primarily used for the final stages of the permitting process for the company’s Pine Grove Gold Project in Nevada, exploration and water well drilling, as well as for general working capital purposes.
The release offered no mention of the private placements closing date.
Lincoln Gold Mining Inc. last traded on the TSX Venture at $0.22.
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