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Athena Gold has successfully closed an oversubscribed non-brokered private placement of flow-through common shares, raising CDN$765,000 - exceeding the original target by CDN$265,000. The company issued 15.3 million flow-through shares at CDN$0.05 per share.
The proceeds will be invested in the company's Laird Lake and Oneman Lake Projects in Ontario, Canada. The funds will be used for eligible resource exploration expenses qualifying as Canadian exploration expenses, which must be incurred by December 31, 2026, and renounced to purchasers by December 31, 2025.
Key details of the offering:
- Finder's fees: 480,000 units issued (each including one non-flow-through share and one warrant)
- Warrants exercise price: CDN$0.12 per share
- Warrant term: 18 months
- Additional finder's fee: 1,737,236 common shares at CDN$0.05
All securities issued have a four-month and one-day hold period. No insiders participated in the offering.
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