Gold Canyon Resources Inc. (
TSX: V.GCU,
Stock Forum) rose 10.3% to 16 cents Friday on heavy volume after the company said it intends to raise $1.3 million from a non-brokered private placement of 11.8 million units priced at 11 cents per unit.
The net proceeds of the private placement are expected to be used to fund the Springpole Gold Project near Red Lake, Ontario, and for general working capital purposes,
the company said in a press release.
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