Solstice Gold Completes Increased Private Placement Financing
Private Placement Financing: Solstice Gold Corp. has successfully closed a private placement financing, raising approximately $1.1 million through the issuance of common shares and units, with proceeds aimed at funding exploration programs and general corporate purposes.
Exploration Focus: The majority of the funds will support a follow-up drill program at the Red Cedar Discovery within the Strathy Gold Project in Ontario, which has shown promising gold mineralization.
Related Party Transactions: The financing included purchases by insiders amounting to about $117,000, which are classified as related party transactions but are exempt from formal valuation and minority approval due to their low market impact.
Regulatory Compliance: All securities issued are subject to a four-month hold period and have not been registered under U.S. securities laws, limiting their sale to U.S. persons without proper registration or exemption.
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Solstice Releases New Details on Private Placement
Private Placement Details: Solstice Gold Corp. raised $1.12 million through a private placement, issuing 1,170,296 Ontario flow-through shares, 4,839,119 National flow-through shares, and 11,448,998 units, with each unit consisting of one common share and a half warrant.
Strathy Gold Project Overview: The Strathy Gold Project, located in Ontario's Temagami Greenstone Belt, has shown promising gold mineralization, including a recent intercept of 8.52 g/t Au over 3.5m, and is accessible via the Trans Canada Highway.
Exploration Potential: Solstice's exploration efforts have identified 50 new targets at the Strathy Gold Project, with significant historical gold intercepts and surface sample results indicating high-grade mineralization, although the area has not been systematically explored.
Company Background: Solstice Gold Corp. is focused on responsible exploration in Canada, with multiple gold projects, including the Qaiqtuq and Atikokan Gold Projects, and a diverse portfolio of over 80 royalty and property assets acquired in 2021.
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