As it moves on with the Enchi Gold Project in Ghana, Newcore Gold Ltd. (TSXV: NCAU | OTCQX: NCAUF) has strengthened its balance sheet by completing its C$15 million purchased deal financing.
The company raised about C$15.0 million in gross proceeds by issuing 28.31 million common shares at a price of C$0.53 each. After the placement, Newcore has about 312.7 million outstanding shares, of which the board and management together own about 12%.
The Enchi Gold Project’s ongoing exploration and development efforts as well as basic working capital needs will be funded by the financing’s proceeds.
With the improved finance position enabling further resource expansion and development planning, Newcore is still advancing the Enchi Gold Project through aggressive drilling and technical work programs.As it moves on with the Enchi Gold Project in Ghana, Newcore Gold Ltd. (TSXV: NCAU | OTCQX: NCAUF) has strengthened its balance sheet by completing its C$15 million purchased deal financing.
The company raised about C$15.0 million in gross proceeds by issuing 28.31 million common shares at a price of C$0.53 each. After the placement, Newcore has about 312.7 million outstanding shares, of which the board and management together own about 12%.
The Enchi Gold Project’s ongoing exploration and development efforts as well as basic working capital needs will be funded by the financing’s proceeds.
With the improved finance position enabling further resource expansion and development planning, Newcore is still advancing the Enchi Gold Project through aggressive drilling and technical work programs.
