News - More Money for Drillingpkxt
this is gonna be GSM's year!
GSM finding it fairly easy to raise new funds…
https://www.goldsummitcorp.com/_resources/pressreleases/2008_02_11.pdf
GOLD SUMMIT CLOSES $308,060 FINANCING
Gold Summit Corporation (TSX-V GSM) has completed a $308,060 non-brokered private placement by issuing 2,464,480 Units at a price of $0.125 per Unit. Each Unit consists of one common share and one common share purchase warrant exercisable for 24 months at a price of $0.25 per share. GSM previously announced that the financing would raise up to $300,000, however it was oversubscribed and closed with gross proceeds of $308,060. The common shares and warrants are subject to resale restrictions until 4 months and a day from the closing date. No fees were paid in connection with this financing. The private placement is subject to the final approval of the TSX VentureExchange.
GSM intends to use the funds of the private placement for general corporate purposes and continuing exploration work on its gold properties in Nevada and North and South Carolina.
Gold Summit explores mostly in the United States for high grade gold and gold/silver deposits that would support underground, low cash cost operations. GSM’s primary properties, totalling 42 km2, cover four Tertiary epithermal vein districts in Nevada.
All these have drill ready targets defined by surface work, most with bonanza grades in outcrops or discovery drill holes. Recently, GSM signed a letter of intent with International Bethlehem Mining Company to form a joint venture to explore the large Monte Cristo property.
In conjunction with joint venture partner, Astral Mining Company, GSM is also exploring two gold properties in the Carolina Slate belt where drilling is currently in progress.