New Placer says placement was actually for $4.95M
2021-11-25 18:50 ET - News Release
Mr. Max Sali reports
NEW PLACER DOME GOLD CORP. AMENDS CLOSING OF PRIVATE PLACEMENT
New Placer Dome Gold Corp. has amended the close of the non-brokered private placement (see news releases dated Nov. 10, 2021, and Nov. 12, 2021). In aggregate, the two tranches of the private placement consisted of 60,730,900 units for aggregate gross proceeds of $4,858,472. The new amended totals are 61,980,900 units for gross proceeds of $4,958,472, having increased by 1.25 million units for additional gross proceeds of $100,000. Each unit was priced at eight cents and consists of one common share and one transferable common share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at a price of 12 cents per share for a period of 36 months from the date of closing. The company paid $2,000 cash finder's fees and 25,000 non-transferable finder warrants in addition to the total finder's fees paid in connection with the closing of the private placement as announced on Nov. 12, 2021.
All securities issued pursuant to the private placement are subject to a four-month hold period from the closing date in accordance with applicable securities laws.
About New Placer Dome Gold Corp.
New Placer Dome Gold is a gold exploration company focused on acquiring and advancing gold projects in Nevada. New Placer Dome's flagship Kinsley Mountain gold project located 90 kilometres south of the Long Canyon mine (currently in production under the Newmont/Barrick joint venture, Nevada Gold Mines), hosts Carlin-style gold mineralization, previous run of mine heap leach production and National Instrument 43-101 indicated resources containing 418,000 ounces of gold grading 2.63 grams per tonne Au (4.95 million tonnes) and inferred resources containing 117,000 ounces of gold averaging 1.51 grams per tonne Au (2.44 million tonnes). The Bolo project, located 90 kilometres northeast of Tonopah, Nev., is another core asset, similarly hosting Carlin-style gold mineralization. New Placer Dome also owns 100 per cent of the Troy Canyon project, located 120 kilometres south of Ely, Nev. New Placer Dome is run by a strong management and technical team consisting of capital markets and mining professionals with the goal of maximizing value for shareholders through new mineral discoveries, committed long-term partnerships and the advancement of exploration projects in geopolitically favourable jurisdictions.
Qualified person
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, PGeo (B.C.), principal and consultant of APEX Geoscience Ltd. of Edmonton, Alta., a director of New Placer Dome and a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Raffle has verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein.
(1) Technical report on the Kinsley project, Elko county, Nevada, United States, dated June 21, 2021, with an effective date of May 5, 2021, and prepared by Michael M. Gustin, PhD, and Gary L. Simmons, MMSA, and filed under New Placer Dome Gold's issuer profile on SEDAR.