Snowline Gold, a TSX-V-listed company focusing on projects in Yukon Territory, on Wednesday announced a bought-deal private placement of 3.2-million “flow-through” shares to raise about C$25-million.
The company entered into an agreement with Cormark Securities and BMO Capital as co-lead underwriters.
On Monday, Snowline announced the early, voluntary exercise of five-million warrants for a total of C$12.5-million. Ana Maria Cox de Gubbins held the warrants and through the acquisition, she has expanded her position to 10.6% of the outstanding shares of the company.
“We have had confidence in the Berdahl family’s initial exploration ideas for this area since before the Valley discovery was made. The results we have seen to date only strengthen our conviction in Snowline as a company and in the potential of the ground they explore,” commented Cox.
Snowline has eight projects, covering 333 000 ha, in Yukon Territory. Its flagship is the 94 000 ha Rogue gold project in the underexplored Selwyn basin.
Snowline’s project portfolio sits within the prolific Tintina gold province, host to multiple million-ounce-plus gold mines and deposits including Kinross’s Fort Knox mine, Northern Star’s Pogo mine, and Victoria Gold’s Eagle mine.
The company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.