Big Ridge Gold Corp Upsizes Previously Announced Private Placement
Big Ridge Gold Corp (OTCQB: ALVLF) has increased its previously announced private placement offering from $5 million to $5.25 million. The upsized offering consists of 42 million units priced at $0.125 per unit, with each unit comprising one common share and half a warrant.
Each warrant can be exercised at C$0.20 per share within 24 months of the closing date. The proceeds will primarily fund the acquisition of the remaining 20% stake in the Hope Brook Gold Project and provide working capital. The transaction requires regulatory and TSX Venture Exchange approval.
Big Ridge Gold Corp (OTCQB: ALVLF) ha aumentato la sua offerta di collocamento privato precedentemente annunciata da 5 milioni di dollari a 5,25 milioni di dollari. L'offerta ampliata consiste in 42 milioni di unità al prezzo di 0,125 dollari per unità, con ogni unità composta da una azione ordinaria e mezza warrant.
Ogni warrant può essere esercitato a 0,20 dollari canadesi per azione entro 24 mesi dalla data di chiusura. I proventi serviranno principalmente per finanziare l'acquisizione della restante quota del 20% nel progetto aurifero Hope Brook e per fornire capitale circolante. L'operazione necessita dell'approvazione normativa e della TSX Venture Exchange.
Big Ridge Gold Corp (OTCQB: ALVLF) ha incrementado su oferta de colocación privada previamente anunciada de 5 millones a 5.25 millones de dólares. La oferta ampliada consiste en 42 millones de unidades a un precio de 0.125 dólares por unidad, donde cada unidad incluye una acción común y media warrant.
Cada warrant puede ejercerse a 0.20 dólares canadienses por acción dentro de los 24 meses posteriores a la fecha de cierre. Los fondos se destinarán principalmente a financiar la adquisición del 20% restante en el proyecto aurífero Hope Brook y a proporcionar capital de trabajo. La transacción requiere la aprobación regulatoria y de la TSX Venture Exchange.
Big Ridge Gold Corp (OTCQB: ALVLF)는 이전에 발표한 사모 발행 규모를 500만 달러에서 525만 달러로 늘렸습니다. 확대된 발행은 4,200만 단위로 단위당 0.125달러에 책정되었으며, 각 단위는 보통주 1주와 워런트 0.5주로 구성됩니다.
각 워런트는 마감일로부터 24개월 이내에 주당 0.20 캐나다 달러에 행사할 수 있습니다. 자금은 주로 Hope Brook 금광 프로젝트의 나머지 20% 지분 인수와 운전자본 확보에 사용될 예정입니다. 이 거래는 규제 당국과 TSX 벤처 거래소의 승인을 필요로 합니다.
Big Ridge Gold Corp (OTCQB : ALVLF) a augmenté son offre de placement privé précédemment annoncée, passant de 5 millions à 5,25 millions de dollars. L'offre augmentée comprend 42 millions d'unités au prix de 0,125 dollar par unité, chaque unité comprenant une action ordinaire et une demi-warrant.
Chaque warrant peut être exercé à 0,20 dollar canadien par action dans les 24 mois suivant la date de clôture. Les fonds seront principalement utilisés pour financer l'acquisition des 20 % restants du projet aurifère Hope Brook et fournir des fonds de roulement. La transaction nécessite l'approbation réglementaire ainsi que celle de la TSX Venture Exchange.
Big Ridge Gold Corp (OTCQB: ALVLF) hat sein zuvor angekündigtes Privatplatzierungsangebot von 5 Millionen auf 5,25 Millionen US-Dollar erhöht. Das erweiterte Angebot umfasst 42 Millionen Einheiten zu einem Preis von 0,125 US-Dollar pro Einheit, wobei jede Einheit aus einer Stammaktie und einer halben Warrant besteht.
Jede Warrant kann innerhalb von 24 Monaten nach dem Abschlussdatum zu 0,20 kanadischen Dollar pro Aktie ausgeübt werden. Die Erlöse werden hauptsächlich zur Finanzierung des Erwerbs der verbleibenden 20% Beteiligung am Hope Brook Gold Projekt und zur Bereitstellung von Betriebskapital verwendet. Die Transaktion erfordert die Genehmigung durch die Aufsichtsbehörden und die TSX Venture Exchange.
- None.
- Dilution of existing shareholders through issuance of 42 million new units
- Subject to regulatory approval which could delay or prevent completion
Toronto, Ontario--(Newsfile Corp. - July 9, 2025) - Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB: ALVLF) ("Big Ridge" or the "Company") is pleased to announce that it has increased the size of its previously announced "best efforts" private placement (the "Offering") from aggregate gross proceeds of up to
Each Unit shall consist of one common share (a "Share") and one half of a common share purchase warrant (a "Warrant"). Each Warrant is exercisable into one Share of the Company at a price of C
The Company intends to use the net proceeds of the Offering to fund the purchase of the remaining
The Transaction is subject to receipt of regulatory approvals, including the acceptance of the Transaction by the TSX Venture Exchange.
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.
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/258247
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