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Ongold Resources Ltd ( (TSE:ONAU) ) has issued an announcement.
Ongold Resources Ltd has announced a $7.7 million bought deal private placement agreement with Paradigm Capital Inc. as the lead underwriter. The funds raised will be used to incur eligible Canadian exploration expenses and flow-through mining expenditures in Ontario and Manitoba, with the remaining proceeds directed towards working capital and general corporate purposes. This strategic financial move is expected to bolster Ongold’s exploration activities and strengthen its market position in the Canadian mining sector.
More about Ongold Resources Ltd
Ongold Resources Ltd is a company operating in the mining industry, focusing on exploration and development of mineral properties in Canada. The company is involved in the acquisition and exploration of mining properties, primarily targeting gold and other precious metals.
Average Trading Volume: 75,806
Technical Sentiment Signal: Strong Buy
For an in-depth examination of ONAU stock, go to TipRanks’ Overview page.