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Lincoln Gold Mining ( (TSE:LMG) ) has provided an update.
Lincoln Gold Mining Inc. has received conditional approval from the TSX Venture Exchange to close the first tranche of its non-brokered private placement financing, raising $285,600 from the issuance of 1,904,000 units. The full $1.2 million financing was well-received, but objections from certain shareholders limited the first tranche’s size. The company plans to use the proceeds for administrative expenses and advancing the Bell Mountain Project. Lincoln Gold intends to close the remaining $915,000 after its upcoming AGM, where it seeks a clear mandate from shareholders.
More about Lincoln Gold Mining
Lincoln Gold Mining Inc. is a Canadian precious metals development and exploration company based in Vancouver, BC. The company is focused on the Bell Mountain gold-silver property, which is fully permitted and moving towards production, and the Pine Grove gold property, which is in the final stages of permitting. Both projects are located in the Walker Lane mineral belt, known for its gold and silver deposits. Lincoln Gold aims to become a mid-tier gold producer.
Average Trading Volume: 17,857
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$3.84M
For an in-depth examination of LMG stock, go to TipRanks’ Overview page.