Abzu Gold Receives $2.5 Million Via Strategic Investment, Appoints Two New Directors

Abzu Gold Ltd. (TSXV:ABS) announced the closure of a strategic investment of 22,727,273 units priced at 11 cents per unit with Stonehouse Construction Pte. Ltd. and four of Stonehouse’s shareholders. Proceeds from the transaction totaled $2.5 million.

As quoted in the press release:

Each Unit is comprised of one common share (a “Share”) of the Company and one common share purchase warrant (a “Warrant”) of the Company. Each Warrant is exercisable into an additional Share for a period of 12 months from closing of the Investment at an exercise price of $0.125 per Share.

Pursuant to the terms of the definitive share purchase agreement between the Company and Stonehouse, provided the Strategic Investors hold 10% or more of the issued and outstanding Shares, Stonehouse will be entitled to appoint from time to time directors of the Company up to a maximum of 40% of the number of directors of the Company at any time.

Accordingly, in connection with the Investment, the Company has appointed Messrs. Eric Wardle and David Savage to the Company’s board of directors.

Click here to read the full Abzu Gold Ltd. (TSXV:ABS) press release.

Get the Latest Gold Investing Stock Information

Get the latest information about companies associated with Gold Investing delivered directly to your inbox.

Gold Bullion
Gold Mine Development
Gold Production/Mining
Gold Project Generators
Gold Prospecting and Exploration
Gold Resource Definition/Pre Feasibility
Gold Resource Expansion/Feasibility Study/PEA

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Nexus-Gold-Big-e1418932141286

Nexus Gold Corp.

Nexus Gold Corp. (TSXV:NXS) is currently drilling on the Walker Ridge Gold Project in Nevada - a multiple target, Carlin-type gold exploration property. They have recently submitted an expanded Plan to increase the current 8 pad plan to 29 drill pads.

Connect here and don't miss their next catalyst!

Learn More
Comments

Leave a Reply