Threegold Resources Inc.(TSXV:THG) announced the closing of the first tranche of of its previously announced private placement. The net proceeds from the private placement will be used for exploration on the Company’s properties.
As quoted in the press release:
The Corporation successfully raised $510,300 by issuing 8,505,000 units at a price of $0.06 per unit. Each unit is comprised of one (1) common share of the Corporation and one half of one common share purchase warrant, each whole warrant entitling the holder to purchase one (1) additional common share of the Corporation at a price of $0.10 for a period of two (2) years following closing. One insider, the president and CEO Victor Goncalves, participated for 700,000 units.