Core Points - Precore Gold Corp. has completed the first tranche of a non-brokered private placement, raising gross proceeds of C$1,000,029.60 by selling 5,555,720 units at C$0.18 per unit [1][2] - Each unit consists of one common share and one-half of a common share purchase warrant, with warrants exercisable at C$0.25 for 36 months [1] - The company plans to use the net proceeds for exploration work and working capital [2] - The first tranche included cash finder's fees of C$36,399.99 and is subject to a four-month hold period expiring on January 19, 2026 [2] - The second tranche of the private placement is expected to be completed by October 3, 2025, potentially raising a total of approximately C$2,000,000 [3] - Certain directors and officers subscribed for 213,500 units, which is considered a related party transaction but is exempt from formal valuation and minority shareholder approval requirements [4] - Precore Gold is focused on building a portfolio of exploration projects with strong gold discovery potential in politically stable, mining-friendly jurisdictions [5]
Precore Gold Closes First Tranche of Private Placement
Globenewswireยท2025-09-18 20:01