PP closed..but still no mention of Lone Pine
ST. JAMES GOLD CLOSES PRIVATE PLACEMENT Vancouver, British Columbia—December 4, 2020 – St. James Gold Corp. (TSXV: LORD) (the “Company”) is pleased to announce that it has closed its non-brokered private placement announced on October 22, 2020 by issuing 2,000,000 Units (as defined below) at a price of $0.12 per Unit for proceeds of $240,000 (the “Offering”). Each Unit Consists Of one common share and one common share purchase warrant (“Warrant”), with each Warrant entitling the holder to purchase one additional common share at $0.12 per share for a period of one (1) year from the date of issue. All securities issued under the Financing are subject to a statutory four month hold period in British Columbia and additional US hold periods on those acquired by US residents.
The proceeds of the financing will be used for due diligence of potential Mineral Property acquisitions being reviewed by the Company.