Augusta Gold (CSE: G) (OTCQB: BFGCD) (FSE: 11B) has increased the size of its previously announced private placement; the placement will now comprise 7.56 million units offered at C$2.25 with anticipated gross proceeds of C$17.0 million. The announcement notes that each unit includes one common share of the company as well as one-half of one common share purchase warrant, with each full warrant giving its holder the right to purchase a common share at the exercise price of C$2.80 anytime over the next three-year period. Augusta Gold intends to use the net proceeds from the private placement to support and continue exploration efforts at its wholly owned Bullfrog Gold project as well as for general and working capital purposes. The company initially announced the private placement on Feb. 10, 2021. The private placement is subject to a variety of rules and regulations as outlined in the announcement, including being subject to a Canadian statutory hold period of four months and one day following the closing date.
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About Augusta Gold
Augusta Gold is a rapidly growing exploration and development company focused on building a long-term business that delivers stakeholder value through developing the Bullfrog Gold Project and pursing accretive M&A opportunities. The Bullfrog Gold Project is located in the prolific Bullfrog district approximately 120 miles northwest of Las Vegas, Nevada, and four miles west of Beatty, Nevada. The company controls approximately 7,800 acres of mineral rights including the Bullfrog and Montgomery-Shoshone deposits and has further identified significant additional mineralization around the existing pits and defined several exploration targets that could further enhance the project. Augusta Gold is led by a management team and board of directors with a proven track record of success in financing and developing mining assets and delivering shareholder value. For more information about this company, please visit www.AugustaGold.com.
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