The Prospector News

Precipitate Closes Private Placement for Proceeds of $1,322,727

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Precipitate Closes Private Placement for Proceeds of $1,322,727






Precipitate Gold Corp. (TSX-V: PRG)  is pleased to announce the closing of its non-brokered private placement of 10,174,820 units of the Company at a price of $0.13 per unit for gross proceeds of C$1,322,727.


Each unit consists of one common share and one half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder to purchase one additional common share at a price of C$0.20 per common share until November 6, 2021. Precipitate will apply the net proceeds of the offering to the Company’s projects in the Dominican Republic as well as general working capital purposes.


Jeffrey Wilson, Company President & CEO stated, “We are excited to close this important equity financing, as the proceeds provide the required capital for the Company to execute on its highly anticipated exploration drilling program within the Loma Cuaba Lithocap Zone of its 100% owned Pueblo Grande Project adjacent to Barrick’s world-class Pueblo Viejo gold-silver mine in the Dominican Republic. As previously reported, the Company’s recent work has successfully delineated and prioritized eight fully permitted distinct target areas that will be the focus of the upcoming diamond drilling campaign. The Company’s technical team is commencing preparations in advance of the commencement of drilling.”


The Company paid commissions to finders under the placement consisting of aggregate cash commissions of C$13,026 and the issue of an aggregate of 100,200 finder’s warrants. Each finder’s warrant entitles the holder to purchase one common share of Precipitate at a price of C$0.20 per common share until November 6, 2021.


All securities issued or issuable under the offering are subject to a four-month hold period expiring on March 7, 2020, in addition to such other restrictions as may apply under applicable securities laws in jurisdictions outside of Canada.


Final closing of this Offering is subject to final acceptance by the TSX Venture Exchange.


About Precipitate Gold:


Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the Pueblo Viejo Mining Camp and Tireo Gold Trend of the Dominican Republic. Precipitate is also actively evaluating additional high-impact property acquisitions with the potential to expand the Company’s portfolio and increase shareholder value.


Posted November 7, 2019

Share this news article


Infill Drilling at San Albino Complete, Highlighted by Intercepts of 69.99 g/t Gold Over 1.8 Meters and 47.89 g/t Gold Over 2.6 Meters; MDA Hired to Update 43-101 Resource Estimate at San Albino in Q3

Mako Mining Corp. (TSX-V: MKO) (OTCQB: MAKOF) is pleased to repor... READ MORE

May 27, 2020

Equinox Gold Receives $145 Million from Exercise of Warrants

Equinox Gold Corp.(TSX: EQX) (NYSE American: EQX) reports t... READ MORE

May 27, 2020

Sama Resources Announces Positive Preliminary Economic Assessment for Samapleu Project

Pre-tax NPV of USD$615M and IRR of 32.5% over a 20-year mine life... READ MORE

May 27, 2020

Pure Gold Mining Raises $12.3 Million From the Exercise of Share Purchase Warrants

Pure Gold Mining Inc. (TSX-V: PGM) (LSE: PUR) is pleased to annou... READ MORE

May 27, 2020

G2 Drills 4.8 m @ 10.6 g/t Au and 25 m @ 2.2 g/t Au in 200 m Step-out Hole

G2 Goldfields Inc. (TSX-V: GTWO) announces further high-grade dri... READ MORE

May 27, 2020

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions