SKYG isn't over quite yet...I was getting worried about how they were going to handle the path forward at Mustang located in Newfoundland, this capital raise brings me confidence there will be some activity this summer.
Sky Gold further announces it has arranged a non-brokered private placement of 5,000,000 flow-through units (the "FT Units") at a price of $0.06 per FT Unit (the "FT Offering"), for aggregate gross proceeds of $300,000.
Each flow-through unit shall be comprised of one common share of the company issued on a flow-through basis and one-half of one common share purchase warrant to be issued on a non-flow-through basis. Each whole warrant shall entitle the holder thereof to acquire one common share of SKYG at a price of $0.08 for a period of 24 months following the closing of the offering. The flow-through shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec).
Sky has also arranged a non-brokered private placement of 6,000,000 units ("Units") at a price of $0.05 per Unit for aggregate gross proceeds of $300,000 (the "Offering").
Each Unit shall be comprised of one common share ("Share") and one full Share purchase warrant ("Warrant"). Each whole Warrant shall entitle the holder thereof to acquire one Warrant Share of SKYG at a price of $0.08 for a period of 18 months following the closing of the Offering.