Big Ridge Gold Corp. Closes Upsized $5.2 Million Private Placement
Big Ridge Gold Corp. (OTCQB: ALVLF) has successfully completed an upsized non-brokered private placement, raising $5.25 million through the issuance of 42 million common share units at $0.125 per share.
Each unit includes one common share and half a warrant, with whole warrants exercisable at $0.20 per share until November 25, 2027. The company paid $175,000 in cash compensation and issued 1.4 million finder warrants to PowerOne Capital Markets Limited.
The proceeds will be used to acquire the remaining 20% stake in the Hope Brook Gold Project and for general working capital purposes. The securities are subject to a four-month hold period ending November 26, 2025.
Big Ridge Gold Corp. (OTCQB: ALVLF) ha completato con successo un aumento di capitale privato non intermediato, raccogliendo 5,25 milioni di dollari attraverso l'emissione di 42 milioni di unità azionarie comuni a 0,125 dollari per azione.
Ogni unità comprende una azione comune e mezza warrant, con warrant interi esercitabili a 0,20 dollari per azione fino al 25 novembre 2027. La società ha pagato 175.000 dollari in compensi in contanti e ha emesso 1,4 milioni di warrant per intermediari a PowerOne Capital Markets Limited.
I proventi saranno utilizzati per acquisire la restante quota del 20% nel progetto aurifero Hope Brook e per scopi generali di capitale circolante. I titoli sono soggetti a un periodo di blocco di quattro mesi che termina il 26 novembre 2025.
Big Ridge Gold Corp. (OTCQB: ALVLF) ha completado con éxito una colocación privada no intermediada ampliada, recaudando 5,25 millones de dólares mediante la emisión de 42 millones de unidades de acciones comunes a 0,125 dólares por acción.
Cada unidad incluye una acción común y media warrant, con warrants enteros ejercitables a 0,20 dólares por acción hasta el 25 de noviembre de 2027. La compañía pagó 175.000 dólares en compensación en efectivo y emitió 1,4 millones de warrants para intermediarios a PowerOne Capital Markets Limited.
Los fondos se utilizarán para adquirir el 20% restante del proyecto aurífero Hope Brook y para propósitos generales de capital de trabajo. Los valores están sujetos a un período de retención de cuatro meses que finaliza el 26 de noviembre de 2025.
Big Ridge Gold Corp. (OTCQB: ALVLF)는 중개인 없이 진행된 증자에서 성공적으로 525만 달러를 조달했으며, 주당 0.125달러에 4,200만 주의 보통주 단위를 발행했습니다.
각 단위는 보통주 1주와 워런트 0.5주를 포함하며, 전체 워런트는 2027년 11월 25일까지 주당 0.20달러에 행사할 수 있습니다. 회사는 현금 보상으로 175,000달러를 지급하고, PowerOne Capital Markets Limited에 140만 개의 중개인 워런트를 발행했습니다.
조달 자금은 Hope Brook 금 프로젝트의 남은 20% 지분 인수와 일반 운전자본 용도로 사용될 예정입니다. 증권은 2025년 11월 26일까지 4개월간의 보유 기간이 적용됩니다.
Big Ridge Gold Corp. (OTCQB : ALVLF) a réussi une augmentation de capital privée non parrainée, augmentée, levant 5,25 millions de dollars par l'émission de 42 millions d'unités d'actions ordinaires au prix de 0,125 dollar par action.
Chaque unité comprend une action ordinaire et une demi-warrant, les warrants entiers étant exerçables à 0,20 dollar par action jusqu'au 25 novembre 2027. La société a versé 175 000 dollars en compensation en espèces et a émis 1,4 million de warrants de recherche à PowerOne Capital Markets Limited.
Les fonds seront utilisés pour acquérir les 20 % restants du projet aurifère Hope Brook et pour les besoins généraux en fonds de roulement. Les titres sont soumis à une période de blocage de quatre mois se terminant le 26 novembre 2025.
Big Ridge Gold Corp. (OTCQB: ALVLF) hat erfolgreich eine aufgestockte, nicht vermittelte Privatplatzierung abgeschlossen und dabei 5,25 Millionen US-Dollar durch die Ausgabe von 42 Millionen Stammaktieneinheiten zu 0,125 US-Dollar pro Aktie eingenommen.
Jede Einheit umfasst eine Stammaktie und eine halbe Warrant, wobei ganze Warrants bis zum 25. November 2027 zu 0,20 US-Dollar pro Aktie ausgeübt werden können. Das Unternehmen zahlte 175.000 US-Dollar Barvergütung und gab 1,4 Millionen Vermittler-Warrants an PowerOne Capital Markets Limited aus.
Die Erlöse werden verwendet, um den verbleibenden 20% Anteil am Hope Brook Gold Projekt zu erwerben und für allgemeine Betriebskapitalzwecke. Die Wertpapiere unterliegen einer viermonatigen Sperrfrist bis zum 26. November 2025.
- Successfully raised $5.25 million through private placement
- Strong support from existing shareholders including Michael Gentile and PowerOne Capital Group
- Proceeds will enable acquisition of remaining 20% stake in Hope Brook Gold Project
- Dilution of existing shareholders through issuance of 42 million new units
- Additional potential dilution from exercise of warrants at $0.20 per share
Toronto, Ontario--(Newsfile Corp. - July 25, 2025) - Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB: ALVLF) ("Big Ridge" or the "Company") is pleased to announce that it has closed a non-brokered private placement of 42,000,000 common share units ("Units") of the Company at
Each Unit consists of one common share and one half of one common share purchase warrant (a "Warrant"). Each whole Warrant is exercisable into one common share of the Company at a price of
In connection with the Offering, the Company paid a total of
The Company intends to use the net proceeds of the Offering to fund the purchase of the remaining
Michael Bandrowski, President & CEO of the Company, commented: "Big Ridge is pleased to receive continued support from existing shareholders, including strong participation from Mr. Michael Gentile, PowerOne Capital Group, and other supportive shareholders. We look forward to closing the purchase of the remaining
The securities issued pursuant to the Offering are subject to a four month hold period expiring November 26, 2025.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.
Qualified Person
Paul Robinson, P. Geo., V.P. Exploration for Big Ridge, and a Qualified Person within the meaning of NI 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information contained in this news release.
About Hope Brook
The Hope Brook Gold Project is an advanced stage, high-grade gold project that produced 752,162 ounces of gold from 1987 - 1997. Initial production consisted of an open pit before moving to underground mining. Hope Brook operated using both heap leach (1987 -1990) and conventional cyanidation milling methods (1989-1997) with a later inclusion of flotation concentration to recover copper (1991). Government records indicate that gold recoveries from milling ranged between a low of
Hope Brook hosts an Indicated gold resource totalling 16,190,000 tonnes grading 2.32 grams per tonne gold for 1.2 million ounces and Inferred resources totalling 2,215,000 tonnes grading 3.25 grams per tonne gold for 231,000 ounces based on a 0.4 and 2.0 gram per tonne cut-off grades for open pit and underground resources respectively using a long-term gold price of US
The Hope Brook gold deposit is a high-sulfidation epithermal gold deposit hosted in the Proterozoic aged Whittle Hill Sandstone and is intruded by a Late Proterozoic quartz-feldspar porphyry sill-dike complex of the Roti Intrusive Suite. The deposit is located adjacent to and within an extensive advanced argillic alteration envelope which includes pyrophyllite, kaolinite, andalusite, and alunite. The principal gold mineralization occurs in a buff-colored massive, vuggy silicic alteration with an associated, less developed grey silicic alteration with pyrite, chalcopyrite and lesser bornite accessory minerals. Gold mineralization is also found with pyrite in units of advanced argillic alteration adjacent to or near silicic alteration horizons. The altered and mineralized zone is cut by mafic dykes whose contacts are often mineralized. All the altered and mineralized sequences and the intruded dykes have been folded.
Hope Brook is located 85 kilometers east of Port aux Basques, Newfoundland. The project has well maintained infrastructure on site, including an operational 28-person camp, an 1,100-meter airstrip, ice-free docking facility and importantly, connection to the provincial electrical power grid via an on-site substation.
About Big Ridge Gold Corp.
Big Ridge Gold Corp. is an exploration and development company managed by a disciplined and experienced team of officers and directors. The Company is committed to the development of advanced stage mining projects using industry best practices combined with strong social license from our local communities. Big Ridge owns an
Acknowledgement
Big Ridge acknowledges and appreciates the Newfoundland and Labrador Ministry of Natural Resources' financial support of the Company's 2023 exploration programs through the Junior Exploration Assistance (JEA) Program.
For more details regarding the Company's projects, please visit our website at www.bigridgegold.com.
ON BEHALF OF THE BOARD,
Mike Bandrowski,
President & CEO
Mike Bandrowski,
President & CEO
BIG RIDGE GOLD CORP.
18 King St. East, Suite 1400
Toronto, ON, M5C 1C4
Tel: 416-540-5480
Email: Mike@bigridgegold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. These forward-looking statements are made as of the date of this news release. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions.
Forward-looking statements in this news release relate to future events or future performance and reflect current estimates, predictions, expectations, or beliefs regarding future events, and include, without limitation, statements with respect to Big Ridge's intentions with respect to Caprock's shares. All forward-looking statements are based on Big Ridge's and its employees' current beliefs as well as various assumptions made by them and information currently available to them. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political, and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. When relying on our forward-looking statements to make decisions with respect to Big Ridge, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Big Ridge does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on our behalf, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259999
FAQ
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