The Prospector News

Sokoman Announces Closing of Non-Brokered Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Sokoman Announces Closing of Non-Brokered Private Placement

 

 

 

 

 

Sokoman Minerals Corp.  (TSX-V: SIC) (OTCQB: SICNF) announces that it has received approval from the TSX Venture Exchange to close its non-brokered private placement of flow-through shares announced on December 2, 2020.

 

The Company will issue 15,000,000 flow-through shares at a price of $0.20 per flow-through share for aggregate gross proceeds of $3,000,000. The flow-through shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada).

 

In connection with the private placement, the Company will pay $164,397 in finders’ fees and will issue 764,550 broker warrants exercisable at $0.20 for 12 months from the date of issue, as permitted by the policies of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a four-month hold period.

 

Sokoman would like to thank all the participants and interested parties for the overwhelming support in this Private Placement. The proceeds of the financing will be directed towards advancing the Company’s flagship Moosehead Gold Project. Sokoman is continuing with its Phase 6 drill program at Moosehead and after taking a break for Christmas holidays, it will resume drilling in early 2021 with multiple high-priority targets yet to be tested. With the necessary funds in place, the Company plans on expanding the program beyond initially announced 10,000 m.

 

About Sokoman Minerals Corp.

 

Sokoman Minerals Corp. is a discovery-oriented company with projects in Newfoundland & Labrador, Canada. The Company’s primary focus is its portfolio of gold projects (Moosehead, Crippleback Lake and East Alder) in Central Newfoundland on the structural corridor hosting Marathon Gold’s Valentine Lake project. Valentine Lake is reported to host estimated Proven and Probable Mineral Reserves of 1.87 Moz (41.05 Mt at 1.41 g/t Au), and Total Measured and Indicated Mineral Resources (inclusive of the Mineral Reserves) of 3.09 Moz (54.9 Mt at 1.75 g/t Au). Additional Inferred Mineral Resources are 0.96 Moz (16.77 Mt at 1.78 g/t Au). Reserves and resource totals for the Valentine Lake Project are taken from the Marathon Gold website, November 16, 2020.

 

The Company also has a 100% interest in an early-stage antimony/gold project in Newfoundland optioned to White Metal Resources Inc. In Labrador, the Company has a 100% interest in the Iron Horse (Fe) project.

 

 

 

Posted December 16, 2020

Share this news article

MORE or "UNCATEGORIZED"


Talisker Closes $9.15 Million Private Placement

Talisker Resources Ltd. (TSX: TSK) (OTCQB: TSKFF) is pleased to a... READ MORE

August 11, 2022

GoGold Releases 2022 Q3 Financial Results

GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) is pleased to an... READ MORE

August 11, 2022

Bunker Hill Discovers High-Grade Silver Mineralization

HIGHLIGHTS New high-grade silver and lead vein system discovered ... READ MORE

August 11, 2022

Goliath Drills 59.1 Meters of Continuous Sulphide Mineralization Confirming a Mineralized Footprint of 5.25 Square Kilometers; System Remains Wide Open in All Directions

Drill Highlights: 100% of all holes completed to date on the Sure... READ MORE

August 11, 2022

Titan Reports Record Production from Empire State Mines on Q2 2022 Results

Titan Mining Corporation (TSX: TI) announces the results for the... READ MORE

August 11, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News