World: Medgold completes private placement to Fortuna Silver mines, Investors
Medgold Resources Corp. is pleased to advise that it has closed its previously announced non-brokered private placement financing with the issuance to Fortuna Silver Mines Inc. of 10.0 million units at $0.15 per unit, for proceeds of $1.5 million.
Each unit consists of one common share of Medgold and one warrant entitling Fortuna to purchase one additional common share of Medgold at $0.15 for one year from closing.
The common shares and warrants issued are subject to a resale restriction until October 18, 2016. No finder’s fees or commissions were paid in connection with this financing.
The proceeds of the placement will be used to fund project-generating exploration in Serbia, and for general working capital purposes.
Dan James, President of Medgold, said: “We are pleased to close our financing with Fortuna Silver Mines, and speaking on behalf of the Medgold team.
We’re all looking forward to starting work with them in Serbia under our strategic alliance.
Our early stage work has identified a number of key district-scale targets which are the focus of our first licence applications there.
We hope to have the first licences issued in the late summer or early fall of this year.
Our experienced team of geologists is planning a busy summer field season of reconnaissance and target generation work, and we’ll be starting more detailed work on the targets we’ve already identified.”
- June 14, 2023 The Serbian Institute for Critical Materials launches a regional mining platform for knowledge exchange
- April 24, 2023 Without sustainable mining, there is no renewable future
- March 25, 2023 Europe revives mining to reduce dependence on the import of key raw materials
- March 8, 2023 Calcium Carbonate Industry, Reshaping the Market Growth, Serbian supplier to match European industrial demand
- August 13, 2023 Environment South East Europe Watch temporarily suspends the activity
- August 9, 2023 Regional Coalition Aims to Protect Up to 400 Kilometres of Rivers Across Southeast Europe
- August 9, 2023 Meeting Serbia’s Energy Needs: A Smart Siting Map for Solar Power