Augusta Gold (CSE: G) (OTCQB: BFGCD) (FSE: 11B) today announced a fully subscribed non-brokered private placement raising approximately C$15 million. Per the private placement, Augusta will offer 6.7 million units at a price of C$2.25 per unit with each unit comprised of one (1) common share of the company (a “common share”) and one half (1/2) of one (1) common share purchase warrant (a “warrant”). Each full warrant entitles the holder to acquire one common share for a period of three years at an exercise price of C$2.80. Augusta Gold intends to utilize the proceeds to advance exploration efforts at its highly prospective wholly owned Bullfrog Gold project located in Nevada, USA, and for general and working capital purposes. The private placement is fully subscribed by the company’s insiders, including Richard Warke and other strategic investors.
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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. The company 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, visit www.AugustaGold.com.
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