Gold firm 1911 revises its "best efforts" life program and private placement to a total of C$17 million.
In a recent press release, 1911 Gold Corporation (TSXV:AUMB) has announced an amendment to its agreement with Haywood Securities for a private placement and LIFE offering. The size of the offering has been increased to C$17 million.
The company will sell up to 3.18 million 'flow-through shares' at C$0.64 and 14.8 million 'flow-through shares' at C$0.554, raising C$10.23 million. Additionally, up to 6.8 million common shares will be sold at C$0.45 and 5.65 million 'flow-through shares' at the CEE issue price, potentially raising an additional C$6,72M.
The upsized offering is expected to close on or about Oct 15. The net proceeds from the sale of non-FT shares will be used for general corporate and working capital purposes. No new information about the use of proceeds from the sale of 'flow-through shares' has been provided.
The combined marketed offering will provide up to C$16.95M in gross proceeds to the company. The source of the financial information in the press release is not specified. It's also important to note that no new information about the agents involved in the offering or the expected timing or status of the offering has been provided.
This news does not include any new information about the historical earnings data for 1911 Gold Corporation or details about the leadership of the company during the mentioned capital raising. Financial information specific to the timeframe of the news article for 1911 Gold Corporation is also not provided.
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