TSX-V-listed Angus Gold has announced a C$4.64-million nonbrokered flow-through private placement, including an investment from Wesdome Gold Mines.
The offering will consist of 5.5-million special flow-through units of the company at C$0.80 each.
Assuming that the offering is fully subscribed, the Wesdome strategic investment will represent a 10.6% ownership interest in the company’s issued and outstanding common shares on a nondiluted basis and 15% assuming the exercise in full of the warrants.
“We are excited to welcome Wesdome as a strategic investor in Angus Gold. Our ability to draw on their knowledge and experience in the area will be invaluable as we continue to advance our Golden Sky project,” said CEO Breanne Beh.
The project, in Wawa, Ontario, is immediately adjacent to Wesdome’s Eagle River mine.