Duncastle Gold Announces Private Placement, Focuses on Wellgreen Area

Duncastle Gold Corp. (TSXV:DUN) intends to raise up to $500,000 in a non-brokered private placement to fund the acquisition and exploration of its highly prospective PGM-Ni-Cu projects in the Kluane Ultramafic Belt of southwest Yukon, including its flagship Catalyst project which adjoins Wellgreen Platinum’s Wellgreen project on three sides.

As quoted in the press release:

The Company also announced that it has dropped the Porphyry Creek project in order to focus the majority of its corporate and exploration effort on the Yukon assets.
The Company plans to issue up to 10,000,000 units at a price of $0.05 per unit. Each unit will consist of one common share and one-half share purchase warrant, with each whole share purchase warrant exercisable to purchase one additional common share at an exercise price of $0.075 per share for a period of three years, subject to an acceleration provision whereby, if at any time after 4 months from the date of issue of the warrants the closing market price of the Company’s common shares on the TSX Venture Exchange is greater than $0.15 per share for 10 consecutive trading days, the Company may, within a further 5 days, give notice and accelerate the expiry date of the warrants, in which event the warrants will expire on the 30th day after the date on which such notice is given.

Click here to read the Duncastle Gold Corp. (TSXV:DUN) press release