Mining
Monday, April 15th, 2024 4:26 pm EDT
Key Points
- Leocor Gold Inc. is increasing its private placement announced on April 4, 2024, to $1.9 million due to overwhelming demand, and the placement is fully subscribed. The expected closing date for the placement is on or about April 18, 2024.
- All securities issued in connection with the placement will be subject to resale restrictions in accordance with applicable securities laws.
- The company plans to utilize the gross proceeds from the placement to advance the exploration and development of its gold and copper projects in Newfoundland, as well as for general working capital purposes.
Leocor Gold Inc., due to overwhelming demand, is increasing its private placement announced on April 4, 2024, to $1.9-million and the placement is fully subscribed. The company expects the placement to close on or about April 18, 2024.
All securities issued in connection with the placement will be subject to restrictions on resale in accordance with applicable securities laws.
The company intends to use the gross proceeds to advance the exploration and development of its gold and copper projects in Newfoundland, and for general working capital purposes.
About Leocor Gold Inc.
Leocor Gold is a British Columbia-based resource company involved in the acquisition and exploration of precious metal projects, with a current focus in Atlantic Canada. Leocor, through outright ownership and earn-in agreements, currently controls several gold-copper projects in prime exploration ground located within the prolific Baie Verte mining district. Leocor’s Baie Verte portfolio includes the Dorset, Dorset Extension, Copper Creek and Five Mile Brook projects, creating a contiguous nearly 2,000-hectare exploration corridor. The company also controls three district-scale land packages in north-central Newfoundland, known as Robert’s Arm, Hodge’s Hill and Leamington, representing over 144,000 hectares (1,440 square kilometres) of prospective exploration.
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