July 15, 2024 4:31 PM EDT | Source: Lode Gold Resources Inc.
Toronto, Ontario–(Newsfile Corp. – July 15, 2024) – Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) (“Lode Gold ” or the “Company”) is pleased to announce it has successfully closed a financing round, raising $506,490. This financing was initially announced on May 31, 2024, and involved the issuance of 13,181,143 units at $0.035 per unit and 1,128,750 Flow Through Units at $0.04, resulting in the total proceeds of $506,490.
Each $0.035 Unit comprises one common share and one common share purchase warrant, allowing the holder to purchase one common share at an exercise price of $0.05 per share for a period of two years post-closing. Similarly, each Flow Through Unit at $0.04 consists of one flow-through common share and one half of a whole flow-through common share purchase warrant, with each whole warrant entitling the holder to purchase one flow-through common share at an exercise price of $0.06 per share over a two-year period following the date of closing.
All securities issued as part of this financing will be subject to a statutory hold period until November 13, 2024. Notably, insiders of the Company subscribed for 664,286 Units and 250,000 FT Units, with the Company relying on exemptions from certain valuation and shareholder approval requirements in this regard.
Insight: The successful closure of this financing round indicates investor confidence in Lode Gold Resources Inc.’s projects and future prospects. The participation of insiders also signifies their belief in the Company’s potential for growth and development.
ABOUT LODE GOLD
Lode Gold is a Canadian exploration and development company with properties in highly prospective mining jurisdictions. Its projects in Yukon and New Brunswick hold significant promise, situated in regions known for high-grade gold mineralization. Additionally, the Fremont Gold development project in California represents a strategic opportunity for the Company to advance its presence in a historically significant gold mining region.
Insight: The diversity of Lode Gold’s project portfolio across different jurisdictions showcases the Company’s commitment to exploring and developing resources in safe and lucrative mining regions. This diversification minimizes risk and enhances potential opportunities for growth and success.
QUALIFIED PERSON STATEMENT
The scientific and technical information presented in this release has been reviewed and approved by a qualified person as per NI 43-101 standards. This emphasizes the Company’s adherence to industry best practices and commitment to upholding the highest standards of technical integrity in its operations.
For more information, please visit the Company’s website at www.lode-gold.com or contact:
Forward-Looking Statements
It is important to note that the forward-looking information contained in this release is subject to various risks and uncertainties, which may impact actual results. The Company remains vigilant in monitoring and addressing these factors to mitigate risks and capitalize on opportunities for growth.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit
July 15, 2024 4:31 PM EDT | Source: Lode Gold Resources Inc.
Toronto, Ontario–(Newsfile Corp. – July 15, 2024) – Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) (“Lode Gold ” or the “Company”) is pleased to announce it has successfully closed a financing round, raising $506,490. This financing was initially announced on May 31, 2024, and involved the issuance of 13,181,143 units at $0.035 per unit and 1,128,750 Flow Through Units at $0.04, resulting in the total proceeds of $506,490.
Each $0.035 Unit comprises one common share and one common share purchase warrant, allowing the holder to purchase one common share at an exercise price of $0.05 per share for a period of two years post-closing. Similarly, each Flow Through Unit at $0.04 consists of one flow-through common share and one half of a whole flow-through common share purchase warrant, with each whole warrant entitling the holder to purchase one flow-through common share at an exercise price of $0.06 per share over a two-year period following the date of closing.
All securities issued as part of this financing will be subject to a statutory hold period until November 13, 2024. Notably, insiders of the Company subscribed for 664,286 Units and 250,000 FT Units, with the Company relying on exemptions from certain valuation and shareholder approval requirements in this regard.
Insight: The successful closure of this financing round indicates investor confidence in Lode Gold Resources Inc.’s projects and future prospects. The participation of insiders also signifies their belief in the Company’s potential for growth and development.
ABOUT LODE GOLD
Lode Gold is a Canadian exploration and development company with properties in highly prospective mining jurisdictions. Its projects in Yukon and New Brunswick hold significant promise, situated in regions known for high-grade gold mineralization. Additionally, the Fremont Gold development project in California represents a strategic opportunity for the Company to advance its presence in a historically significant gold mining region.
Insight: The diversity of Lode Gold’s project portfolio across different jurisdictions showcases the Company’s commitment to exploring and developing resources in safe and lucrative mining regions. This diversification minimizes risk and enhances potential opportunities for growth and success.
QUALIFIED PERSON STATEMENT
The scientific and technical information presented in this release has been reviewed and approved by a qualified person as per NI 43-101 standards. This emphasizes the Company’s adherence to industry best practices and commitment to upholding the highest standards of technical integrity in its operations.
For more information, please visit the Company’s website at www.lode-gold.com or contact:
Forward-Looking Statements
It is important to note that the forward-looking information contained in this release is subject to various risks and uncertainties, which may impact actual results. The Company remains vigilant in monitoring and addressing these factors to mitigate risks and capitalize on opportunities for growth.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit
