Closure of $18.5M Concurrent Financing! NexGold Mining (NEXG.v NXGCF) and Signal Gold Raise $18.5M in Concurrent Financing Prior to Merger
Yesterday, NexGold Mining (NEXG.v NXGCF) and Signal Gold announced the closure of their upsized concurrent financing for $18.5M!
This financing supports their proposed merger, where NexGold will acquire Signal, advancing NexGold’s Goliath Gold Complex in Ontario and Signal’s Goldboro Project in Nova Scotia, with the funds supoorting the exploration and advancement of both projects.
Notably, key investor Sprott Asset Management acquired 2.5 million FT Units, increasing its stake in NEXG to 11.43% non-diluted and 14.95% partially diluted.
Creating One of Canada's Most Advanced Near-Term Gold Developers
Notably, the merger is set to create one of Canada's most advanced near-term gold developers, with a combined total of 4.7 million gold ounces in Measured and Indicated Mineral Resources and 1.3 million gold ounces in Inferred Mineral Resources.
With two environmental assessment approvals in place and permitted expected to be completed by 2025, the company is targeting over 200,000 ounces of gold production per year and has significant growth potential at both projects across a combined 60,000 hectares of land with potential for further discoveries along strike, at depth and through new discoveries.
Creating a strong gold development company with a focus on growth, operational efficiency, and resource expansion, this merger positions the company strongly as a potential mid-tier gold producer in Canada.
Full News Release: https://nexgold.com/nexgold-and-signal-gold-complete-upsized-concurrent-financing-for-18-5-million/
Posted on Behalf of NexGold Mining Corp.