Workflow
Non - brokered financing
icon
Search documents
Sixty North Gold to Close First Tranche of Non-Brokered $1,500,000 Unit Offering
Newsfile· 2025-10-30 23:53
Core Viewpoint - Sixty North Gold Mining Ltd. is set to close a first tranche of a non-brokered financing of up to 13,636,363 units at an offering price of $0.11 per unit, with the first tranche expected to close around November 5, 2025 [1][2]. Financing Details - The company anticipates closing up to 5,454,545 units in the first tranche, generating gross proceeds of up to $600,000 [2]. - Each unit consists of one common share and one non-transferable common share purchase warrant, with each warrant exercisable at $0.15 for a period of 24 months from the closing date [2]. Finder's Fees - Eligible finders will receive an 8% cash fee and 8% in warrants based on the proceeds received from investors [3]. Use of Proceeds - Proceeds from the offering will be allocated for further exploration and development of the Mon Gold Property in NWT, as well as for general working capital requirements [4]. Company Overview - Sixty North Gold is developing mining operations for gold on its 100% owned Mon Gold Project, which previously extracted 15,000 tonnes of ore, recovering an estimated 15,000 ounces of gold in the 1990s [5]. - The North Ramp has been reopened and extended to target portions of the vein, with plans to develop stopes in the East Limb, West Limb, and DD Zone to support a 100 tpd gravity-flotation mill [5]. Additional Exploration Potential - The property hosts additional gold, silver, and base metal targets that will be explored and developed as warranted [6]. - The Yellowknife gold camp has a history of significant gold production, with two mines averaging 30 grams per tonne (gpt) gold or better, contributing to a total production of over 14 million ounces of gold [6].
Scottie Announces Closing of the Second Tranche of Its Previously Announced Non-Brokered Financing
Newsfile· 2025-08-15 21:23
Core Points - Scottie Resources Corp. has successfully closed the second tranche of its non-brokered private placement financing, raising gross proceeds of $3,300,620.40 through the issuance of 3,750,705 common shares at a price of $0.88 per share [1][2] - The total gross proceeds raised from the first two tranches of the offering amount to $11,686,984.30, with the first tranche having closed on August 11, 2025, for $8,386,363.86 [1][2] - The net proceeds from the sale of common shares will be allocated for development activities, study work, permitting activities, and general corporate purposes [2] Financial Details - In connection with the second tranche, the company paid cash commissions of $110,484 to finders and issued 102,150 non-transferable finder's warrants, each allowing the purchase of one common share at an exercise price of $0.88 for 24 months [3] - The offering is subject to final acceptance from the TSX Venture Exchange, with all securities issued in the second tranche under a hold period expiring on December 16, 2025 [4] Company Overview - Scottie Resources Corp. owns a 100% interest in the Scottie Gold Mine Property, which includes the Blueberry Contact Zone and the past-producing Scottie Gold Mine, as well as the Georgia Project and other properties, totaling approximately 58,500 hectares in the Stewart Mining Camp of the Golden Triangle [5][6] - The company's focus is on expanding known mineralization around past-producing mines and advancing high-grade gold targets to produce a high-margin DSO product [6]