Toronto (pcJ News Briefs) – Argo Gold Inc. (CSE: ARQ) intends to complete a private placement offering of up to 1,000,000 units at $0.20 per unit and up to 1,600,000 flow through (FT) shares at $0.25 per FT share for gross proceeds of up to $400,000.
Each unit will consist of one common share and one-half of one common share purchase warrant with each whole warrant entitling the holder thereof to purchase one additional common share at an exercise price of $0.30 for a period of twenty-four months following the closing of the offering.
The gross proceeds from the offering will be used for Canadian Exploration Expenses, and will qualify as “flow-through mining expenditures”.
The closing of the offering is anticipated to take place on or about April 28, 2017.
Argo Gold is focused on gold exploration projects central and northwestern Ontario.
photo credit: Argo Gold