GoldON Closes Non-Brokered Financing
Rhea-AI Summary
GoldON Resources (TSXV: GLD) has successfully closed a non-brokered private placement financing, raising $522,000 in gross proceeds. The offering consisted of 4,350,000 flow-through shares, priced at $0.12 per share. All shares issued are subject to a hold period expiring on December 17, 2024.
The proceeds will be used to fund the next phase of drilling at GoldON's 100%-owned West Madsen Gold Property, located in Ontario's Red Lake Gold Camp. This strategic move aims to advance exploration efforts in one of Canada's premier gold mining districts.
Positive
- Successful closure of non-brokered private placement raising $522,000
- Funds secured for next phase of drilling at 100%-owned West Madsen Gold Property
- Strategic location in the heart of the Red Lake Gold Camp
Negative
- Potential dilution of existing shareholders due to issuance of 4,350,000 new shares
News Market Reaction 1 Alert
On the day this news was published, NCMBF declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Proceeds of the financing will be used to drill GoldON's
Vancouver, British Columbia--(Newsfile Corp. - August 16, 2024) - GoldON Resources Ltd. (TSXV: GLD) ("GoldON" or the "Company") is pleased to announce the closing of its previously announced non-brokered private placement financing that raised
The Offering consisted of 4,350,000 flow-through shares, each priced at
Figure 1: Looking northeast from GoldON's West Madsen property to WRLG's Madsen Gold Mine property.
To view an enhanced version of this graphic, please visit:
https://goldonresources.com/images/westmadsen/WM-BLK-A_WRLG.jpg
The Company will use the proceeds of the Offering to fund the next phase of drilling at its
About GoldON Resources Ltd.
GoldON is a mineral exploration company focused on discovery-stage properties. Our goal with a property is to add value by defining (or redefining) the exploration opportunity, maintain ownership control during the value creation phase of discovery, and then source a well-financed partner capable of accelerating discovery, resource definition, and development.
For more information, you can visit our website at goldonresources.com, download our investor presentation here, and follow us on X at https://x.com/GoldONResources.
ON BEHALF OF THE BOARD
Signed "Michael Romanik"
Michael Romanik, President
GoldON Resources Ltd.
Direct line: (204) 724-0613
Email: info@goldonresources.com
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9
Forward-Looking Statements
This news release may contain "forward-looking statements" that involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220221
FAQ
How much did GoldON Resources (TSXV: GLD) raise in its recent financing?
What is the purpose of GoldON's recent financing?
How many flow-through shares were issued in GoldON's recent offering?
What is the price per share for GoldON's recent flow-through share offering?
When does the hold period expire for the shares issued in GoldON's recent financing?
