Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Galleon Gold ( (TSE:GGO) ) just unveiled an update.
Galleon Gold has increased its non-brokered private placement offering of unsecured convertible debentures to a cap of C$7,500,000. The proceeds will be used for the exploration and advancement of the West Cache Gold Project and general working capital. The debentures have a 36-month term with an 8% annual interest rate and are convertible into common shares at $0.30 per share. Insiders’ participation in the offering constitutes a related party transaction but is exempt from certain regulatory requirements. The offering is expected to close by July 9, subject to TSX Venture Exchange acceptance.
More about Galleon Gold
Galleon Gold is an advanced exploration and development company focused on the West Cache Gold Project in Timmins, Ontario. The company is preparing for its first test mining at West Cache, which aims to produce 22,600 ounces of gold from an 86,500-tonne underground bulk sample. Galleon Gold’s strategy involves systematically derisking the project while expanding the asset through grassroots exploration.
Average Trading Volume: 82,037
Technical Sentiment Signal: Hold
Current Market Cap: C$21.77M
For detailed information about GGO stock, go to TipRanks’ Stock Analysis page.