StrikePoint Gold Announces Closing of LIFE Offering for Gross Proceeds of C$3.1 Million

Core Points - StrikePoint Gold Inc. has successfully closed its non-brokered private placement under the Listed Issuer Financing Exemption, raising gross proceeds of CAD $3.1 million [1][5] - The offering consisted of 20,797,460 units priced at CAD $0.15 each, with each unit comprising one common share and one warrant [1][2] - The warrants allow holders to purchase additional common shares at CAD $0.30 until November 18, 2027 [2] Financial Details - The total gross proceeds from the offering amounted to CAD $3,119,619 [1] - Finder's fees paid in connection with the offering totaled CAD $161,416.50, along with the issuance of 1,076,110 non-transferable warrants [4] - Insiders subscribed for 199,460 units, contributing CAD $29,919 to the gross proceeds [6] Use of Proceeds - The net proceeds from the LIFE Offering will be allocated towards exploration activities at the Hercules Gold Project and the Cuprite Gold Project in Nevada, as well as for general working capital [5] Regulatory Compliance - The offering was conducted under the Listed Issuer Financing Exemption, which allows for the securities to be sold without a hold period, except for the warrants which have a 60-day exercise restriction [3] - The issuance to insiders is classified as a related party transaction, with the company relying on exemptions from formal valuation and minority shareholder approval requirements [6] Company Overview - StrikePoint Gold Inc. is focused on gold exploration in the Western United States and Canada, with approximately 145 square kilometers of mineral claims [8][10] - The management team, led by CEO Michael G. Allen, has extensive experience in exploration and finance, having completed multiple transactions in the mining sector [11]