1911 Gold Corporation (TSXV: AUMB) has entered into an agreement with Canaccord Genuity Corp., as agent and sole book-runner, for a private placement to raise up to C$5 million.
Tranche one of the offering will consist of up to 5,600,000 Flow-Through Shares for aggregate gross proceeds of up to C$3,136,000.
Tranche two will consist of up to 5,825,000 Flow-Through Shares for aggregate gross proceeds of up to C$1,864,000.
The company has also granted the Agent an option, exercisable in whole or in part at any time up to 48 hours prior to closing of the Offering, to increase the size of the Offering by up to 20% through the issuance of up to 3,125,000 National FT Shares at the National FT Price for additional gross proceeds of up to C$1 million.
The Offering is expected to close on or about December 29, 2021.
1911 Gold holds a highly prospective, consolidated land package totalling more than 58,000 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba, and also owns the True North mine and mill complex at Bissett, Manitoba, where it is reprocessing historic tailings on a seasonal basis.
1911 Gold believes its land package is a prime exploration opportunity, with potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Tully and Denton-Keefer projects near Timmins, Ontario, and intends to focus on both organic growth opportunities and accretive acquisition opportunities in North America.
For further information please visit: https://www.1911gold.com/
