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Angold Resources closes $2.73M public offering
2022-04-05 13:59 ET - News Release
Mr. Adrian Rothwell reports
ANGOLD ANNOUNCES CLOSING OF $2.74 MILLION MARKETED PUBLIC OFFERING OF UNITS
Angold Resources Ltd. has closed its previously announced marketed public offering of 19,566,400 units of the company at a price of 14 cents per unit for aggregate gross proceeds of $2,739,296. The offering was conducted on a best efforts agency basis and was led by Research Capital Corp. and Canaccord Genuity Corp. as the co-lead agents and joint bookrunners.
Each unit comprises one common share of the company and one common share purchase warrant of the company. Each warrant entitles the holder thereof to purchase one common share at an exercise price of 20 cents until April 5, 2025.
The net proceeds from the offering of the units will be used for phase 1 drilling at the Iron Butte property and for working capital and general corporate purposes.
About Angold Resources Ltd.
Angold is an exploration and development company targeting large-scale mineral systems in the proven districts of the Maricunga, Nevada and Ontario. Angold owns a 100-per-cent interest in the Dorado, Cordillera and South Bay-Uchi projects and certain claims that append the optioned Iron Butte project.