Core Viewpoint - Goldgroup Mining Inc. has announced a non-brokered private placement of up to 15,000,000 units at a price of $0.80 per unit, aiming to raise up to $12,000,000 for strategic acquisitions in the mining sector [1][3]. Group 1: Private Placement Details - The private placement will consist of units, each comprising one common share and one-half common share purchase warrant, with full warrants exercisable at $1.10 for 24 months [1]. - If the closing price of the common shares reaches $1.25 or higher for 10 consecutive trading days, the expiry date of the warrants will be accelerated [1]. - The private placement is subject to approval from the TSX Venture Exchange, and all securities will be subject to a statutory hold period of four months and one day from closing [2]. Group 2: Strategic Vision and Use of Proceeds - The net proceeds from the private placement will be primarily used for assessing and pursuing acquisition opportunities in the mining sector [3]. - The company is focused on enhancing shareholder value through potential acquisitions of operating mines or strategic stakes in other mining companies [3]. - The company has been conducting due diligence on mineral projects but has not yet completed any acquisition transactions [3]. Group 3: Leadership Perspective - CEO Ralph Shearing emphasized that the private placement is a pivotal step in the company's growth strategy, aiming to deploy capital effectively to secure complementary assets [4]. - The company is particularly interested in opportunities within Mexico that align with its operational expertise [4]. Group 4: Company Background - Goldgroup Mining is a Canadian-based mining company that operates the Cerro Prieto heap-leach gold mine in Sonora, Mexico [5]. - The company is led by a team with extensive expertise in mine development, corporate finance, and exploration in Mexico [6].
Goldgroup Announces Non-Brokered Private Placement To Fuel Strategic Acquisitions And Growth
Thenewswireยท2025-07-18 21:15