GoGold Announces $20 Million Financing

GoGold Resources (TSX:GGD) has announced an agreement with a syndicate of underwriters for the purchase of 13,333,500 common shares of GoGold at a price of C$1.50 per share for gross proceeds of roughly $20 million. Proceeds will be used to develop GoGold’s properties in Mexico.

As quoted in the press release:

In addition, the Company has agreed to grant to the underwriters an option to purchase up to an additional 15% of the number of Shares sold under the Offering at a price of C$1.50 per Share, on the same terms and conditions as the Offering, exercisable at any time, in whole or in part, until the date that is 30 days following the closing of the Offering. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the Offering to GoGold will be approximately C$23 million.

Click here to read the GoGold Resources (TSX:GGD) press release