GT Gold Corp. TSX-V: GTT has closed its previously announced non-brokered private placement for gross proceeds of $6,518,719. The offering involved the issuance of 9,053,495 common shares (and no warrants) at the amended price of 72 cents per share. The company is very pleased with the support of its existing shareholders as well as the addition of new, long-term-oriented investors.
Net proceeds from the financing will be used for exploration (primarily expansion drilling) of the company’s Saddle gold-silver discovery in British Columbia’s Golden Triangle. The company has a strong balance sheet and is now more than adequately financed for the upcoming 2018 exploration program at Saddle, details of which will be forthcoming in the near future.
The company has paid finders’ fees totalling $186,924 in accordance with the rules and policies of the TSX Venture Exchange. All shares issued in the offering will be subject to a four-month hold period ending July 22, 2018.