RE:True or false? VANCOUVER, BC / ACCESSWIRE / September 6, 2023 / Snowline Gold Corp. (TSX-V:SGD) (the "Company" or "Snowline") is pleased to announce that it has completed its previously announced "bought deal" private placement of 2,200,000 flow-through common shares of the Company (the "FT Shares") at a price of C$7.50 per FT Share for aggregate gross proceeds of C$16.5 million (the "Offering"), including C$1.5 million from the exercise of the underwriters' option. Each FT Share will qualify as a "flow-through share" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"). Existing shareholder B2Gold Corp. (TSX: BTO, NYSE American: BTG, NSX: B2G) ("B2Gold") participated in the financing to maintain their 9.9% interest in the Company.
"We are encouraged by the strong support shown for this financing, both from existing shareholders including B2Gold and from a number of new, high-quality institutional shareholders," said Scott Berdahl, CEO & Director of Snowline. "Our strengthened treasury allows us to advance exploration on the Rogue Project's Valley discovery and on other targets and generative programs across our highly prospective gold portfolio. The funds provide certainty, and they open the door to greater flexibility as we move forward."