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Fairchild Gold Corp. ( (TSE:FAIR) ) just unveiled an update.
Fairchild Gold Corp. has closed a non-brokered private placement, raising C$1,245,712 through the issuance of 13,841,249 units at C$0.09 each, with each unit consisting of one common share and a five-year warrant exercisable at C$0.15 that includes an acceleration clause. The financing, which is subject to final TSX Venture Exchange approval and carried no finder’s fees, will be used to advance the company’s Nevada gold projects and fund working capital, while also slightly increasing insider Shahal Khan’s ownership under early warning rules without triggering minority protection requirements.
An insider participated for 1.2 million units, qualifying the transaction as a related-party deal under Canadian securities rules, but Fairchild relied on exemptions since the insider portion represents less than 25% of its market capitalization. Following the placement, Khan’s beneficial ownership rose marginally to 7.96% of outstanding shares, or 13.62% on a partially diluted basis, signaling continued insider support while remaining below thresholds that would require a formal valuation or minority shareholder approval.
More about Fairchild Gold Corp.
Fairchild Gold Corp. is a junior mining company listed on the TSX Venture Exchange, the Frankfurt Stock Exchange and the OTCQB, focused on exploring and advancing gold projects in Nevada. The company operates in the precious metals exploration sector and aims to develop its assets in a key North American gold mining jurisdiction.
Average Trading Volume: 220,247
Technical Sentiment Signal: Buy
Current Market Cap: C$13.88M
See more data about FAIR stock on TipRanks’ Stock Analysis page.