Advanced Gold Exploration Completes Private Placement

2 min read | August 26, 2024 02:05 AM PDT | By Team Kalkine Media

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Advanced Gold Exploration Completes Private Placement — Image source: Shutterstock

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Private Placement Completed by Advanced Gold Exploration

Company Raises $286,500 for Buck Lake Project

New Insider Joins Following Financing Round

Advanced Gold Exploration Inc. (CSE:AUEX) has successfully concluded its non-brokered private placement, as detailed in its June 25, 2024, announcement. The company issued 8,200,000 flow-through units and 3,260,000 common share non-flow-through units, generating total gross proceeds of $286,500.

The funds from this offering will support exploration efforts at the Buck Lake property, focusing on copper-zinc development. Each flow-through unit includes one common share and one purchase warrant, with the latter enabling acquisition of a common share at $0.05 each over a five-year period. The flow-through shares qualify for the Critical Mineral Exploration Tax Credit under Canadian tax regulations.

Non-flow-through units consist of one common share and a purchase warrant, also allowing acquisition of a common share at $0.05 over five years.

Notable participants include board member Radovan Danilovsky and new insider John Ross Quigley. All issued securities are subject to a four-month hold period and comply with applicable securities legislation.

The offering's completion is pending necessary regulatory approvals, including those from the Canadian Securities Exchange.

This announcement does not offer or solicit securities in the United States, as they are not registered under U.S. securities laws.

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