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04:35 PM EST, 12/02/2020 (MT Newswires) -- Sokoman Minerals (SIC.V) on Wednesday said it is seeking C$2 million from a private placement of flow-through shares to pay for exploration at its Moosehead gold project in Newfoundland.
The company said the tax-advantaged shares will be priced at C$0.20 each but it did not specify the number it expects to sell.
"With approximately 6,000 m of a proposed 10,000 m Phase 6 completed and with excellent results so far ... we are tapping into seasonal flow-through funds available now to ensure we have the flexibility to expand our current Phase 6 program this winter," chief executive Tim Froude said in a release.
Sokoman shares closed up C$0.02 to C$0.195 on the TSX Venture Exchange.
Price: 0.1950, Change: +0.0200, Percent Change: +11.43
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