Montreal (pcJ News Briefs) – Stellar AfricaGold Inc. (TSX-V: SPX) intends to close a non-brokered private placement offering of 15,210,000 units at a price of $0.05 per unit for gross proceeds of C$760,500. The offering is fully subscribed.
Each unit will be comprised of one common share and one share purchase warrant exercisable at $0.10 per warrant share for a term of 12 months.
Directors and officers of Stellar AfricaGold are acquiring 3,400,000 units, approximately 22% of the Offering at a cost of $170,000.
Net proceeds received will be used for Balandougou Gold Project in Guinea and for working capital.
Stellar AfricaGold Inc. is a Canadian gold exploration Company based in Montreal, Quebec, with operations concentrated in West Africa and in Quebec. The Company is currently developing the promising gold potential of the advanced exploration stage Balandougou project in Guinea, including a 15,000 tonne bulk sample program. (see News Release March 1, 2017) The company also owns the Namarana project in neighbouring Mali. In Quebec, the company owns 100% of the Opawica Project in the Chibougamau mining camp.
photo credit: Stellar AfricaGold