TomaGold Corporation (TSX:LOT) announced that two institutional firms have exercised their warrants in connection with a private placement announced on December 31, 2013, which has enabled TomaGold to raise $120,000. Also, TomaGold closed on an initial $80,000 of a non-brokered private placement today for a maximum of $700,000, mostly with Canadian and European institutional investors. The second closing is expected to take place on or near May 9, 2014.
According to the press release:
TomaGold will use the proceeds from the private placement and the exercise of warrants to carry out exploration on its properties in Quebec, to fund its planned acquisitions, and for working capital purposes.