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Prosper Gold Corp. Closes Private Placement

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Prosper Gold Corp. Closes Private Placement

 

 

 

 

 

Prosper Gold Corp. (TSX-V:PGX) announces that it has completed a non-brokered private placement of 5,490,910 units of the Company at a price of $0.55 per Unit for gross proceeds to the Company of $3,020,000.50.

 

Each Unit consists of one common share of the Company and one common share purchase warrant. Each Warrant entitles the holder to acquire one common share of the Company at a price of $0.85 until the date that is 24 months following completion of the Offering.

 

In connection with the Private Placement and in accordance with the policies of the TSX-V, finder’s fees totaling approximately $101,320 in cash were paid and 104,398 common share purchase warrants were issued. Each Finder Warrant is non-transferable and exercisable for one Common Share for a period of 24 months following closing of the Offering at an exercise price equal to $0.85.

 

Prosper Gold expects to use the net proceeds from the Private Placement to fund exploration activities at the Golden Sidewalk property and for working capital and general corporate purposes.

 

All securities issued pursuant to the Private Placement will be subject to a four month and one day hold period in accordance with applicable securities laws. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and were not permitted to be offered or sold within the United States absent registration or an applicable exemption from the registration requirements of such Act.

 

About the Golden Sidewalk

 

The Golden Sidewalk project is comprised of over 16,000 hectares of contiguous mineral claims & patents (see the company’s August 10th, September 8th, and September 15th 2020 news releases for details) located approximately 70 kilometres northeast of the town of Red Lake, Ont. The project is accessible year-round through a network of well-maintained logging roads.

 

Posted October 15, 2020

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