- Golden Tag Resources (GOG) has announced a non-brokered private placement financing of subscription receipts for gross proceeds of C$9 million
- Golden Tag intends to issue 45,000,000 subscription receipts at a price of $0.20 per receipt
- Pending completion of the Parrilla Silver Mine acquisition, net proceeds of the offering will be used to fund drilling and exploration programs at La Parrilla
- Golden Tag Resources Ltd. is a Toronto-based mineral resource exploration company
- Golden Tag Resources Ltd. (GOG) opened trading at C$0.225
Golden Tag Resources (GOG) has announced a non-brokered private placement financing of subscription receipts for gross proceeds of C$9 million.
This offering is being completed in connection with the pending acquisition of the La Parrilla Silver Mine Complex in Durango State, Mexico.
Under the offering, Golden Tag intends to issue 45,000,000 subscription receipts at a price of $0.20 per receipt. Each receipt will entitle the holder to receive one unit of the company. Each unit will include one common share and one-half of one common share purchase warrant. Each whole warrant will be exercisable to acquire one additional common share at a price of $0.34 for a period of three years.
First Majestic Silver Corp. will subscribe for US$2.7 million of subscription receipts.
The gross proceeds will be held in escrow pending the closing of the Parrilla Silver Mine acquisition.
Net proceeds of the offering to fund drilling and exploration programs at La Parrilla, holding costs, technical work for restart, transaction costs and working capital and general corporate purposes.
About Golden Tag Resources
Golden Tag Resources Ltd. is a Toronto-based mineral resource exploration company. The Company holds a 100 per cent interest in the San Diego Project in Durango, Mexico.
Golden Tag Resources Ltd. (GOG) opened trading at C$0.225.