The company has closed on 362,500 non-flow-through units priced at $0.40 each for $145,000 in proceeds. Each unit consists of one share and one warrant, which is exercisable at $0.75 per share for 24 months.
Proceeds of this portion of the financing will be used for general corporate purposes, which may include corporate development and property acquisition.
Golden Sky also closed on 2,250,554 flow-through units priced at $0.45 for about $1.0 million in proceeds. Each unit comprises one flow-through share and one-half of a warrant. Each full warrant is exercisable at $0.80 per share for 12 months.
Proceeds of the part of the financing will be used to advance Golden Sky's Bulls Eye and Hotspot properties in Yukon.