Opening a $4M Brokered Private Placement! Yesterday $LORD (St. James Gold Corp) announced the opening of a brokered private placement. They'll be offering a few things in the private placement.
- 931,667 units for $3.22
- Up to 259,067 flow-through (FT) units at $3.86 per FT unit
- $LORD will be looking for an aggregate gross to the Company of up to $4M
- Each “unit” comprises of one share and a 3-year warrant exercisable for $4.18
- The offering will be conducted around Canada and the US
- Will close on August 26th
$LORD intends to use the net proceeds of the Offering to conduct drilling on the Florin Gold Project, exploration activities on the Company’s Newfoundland properties and for general corporate purposes.
Read the full article here: https://ca.finance.yahoo.com/news/st-james-gold-corp-tsx-223700608.html
This is great news for $LORD; with a $71M market cap, a $4M financing will allow them to fund exploration activities on their gold projects with minimal stock dilution. Gold is at the lowest point in a month and is looking ripe for a comeback (which will help gold miners’ stocks), will be keeping a close eye on future developments!
(TSXV: LORD) (OTC: LRDJF)