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Pure Gold to raise C$20m

9th September 2021

By: Creamer Media Reporter

     

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Bullion producer Pure Gold has announced a bought-deal transaction to raise C$20-million for the continued ramp up of operations at its mine in Red Lake, Ontario.

The TSX-V- and LSE-listed miner entered into an agreement with National Bank Financial as lead underwriter, on behalf of a syndicate of underwriters, under which they have agreed to purchase, on a bought-deal basis, 19 048 000 units of the company at C$1.05 each.

Each unit comprises one common share and one-half common share purchase warrant, entitling the holder to buy a common share at C$1.36 in the next 18 months.

The offering would close on September 28.

The proceeds would be used to fund the ramp-up of operations at the PureGold mine, for underground drilling and development of the high-grade 8 zone.

Edited by Creamer Media Reporter

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