Stone Gold Closes $500,000 Flow Through Financing

Stone Gold Inc (TSXV: STG) has closed a non-brokered private placement. The financing, which was formally closed last night, saw the company raise a total of $500,000 via the sale of flow through units of the company.

Units sold under the offering were issued at $0.20 per unit, with a total of 2.5 million units issued. Each unit consists of one common share and one common share purchase warrant, valid for a period of 24 months from the date of issuance with an exercise price of $0.30 per share.

Proceeds from the sale of the flow through units are to be used for Canadian exploration expenses, and are to qualify as flow through mining expenditures. A portion of the financing was also taken down by insiders, with director and former CEO Brian Howlett acquiring 59,000 flow through units under the offering.

Stone Gold Inc last traded at $0.185 on the TSX Venture.


FULL DISCLOSURE: CR Capital Corp is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover CR Capital Corp 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

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Silver47 Completes Property-Wide Geochemical, Rock Sampling Program At Adams Plateau, Identifies Numerous Targets

Altamira Gold Identifies Presence Of Second Mineralized Porphyry Body At Cajueiro

Related News

Karora Hits 29.8 G/t Gold Over 19.0 Metres At Spargo

Karora Resources (TSX: KRR) this morning reported initial results from its ongoing 12,000 metre drill...

Wednesday, November 18, 2020, 08:18:35 AM

SSR Mining Expands Existing Credit Facility To US$200 Million

SSR Mining (TSX: SSRM) (NASDAQ: SSRM) this morning indicated that it has expanded its existing...

Tuesday, June 8, 2021, 07:43:02 AM

Aya Gold & Silver Closes $15.2 Million Algold Acquisition

Aya Gold & Silver Incorporated (TSX: AYA) announced this morning the closing of the previously...

Friday, June 11, 2021, 09:55:00 AM

Stone Gold Begins 4,000 Metre Drill Program At Copper Road Property

Drilling is now getting underway for Stone Gold (TSXV: STG). The firm this morning indicated...

Thursday, April 21, 2022, 08:08:54 AM

The Deep Dive Compiles Company Profile On SKRR Exploration

SKRR Exploration Inc. (TSXV: SKRR)  is a Canadian junior mining company with gold exploration operations...

Saturday, September 26, 2020, 08:30:00 AM