Outback Goldfields Secures $2.41M in Initial Funding

Outback Goldfields Corp (TSE:OZ) has released an update.

Outback Goldfields Corp. has successfully completed the initial closing of a private placement, raising $2.41 million through the issuance of 60,350,000 subscription receipts at $0.04 each. These receipts will convert into units comprising shares and purchase warrants, with a final tranche expected to bring total proceeds to $5 million by July 31, 2024. The funds are earmarked for acquiring a gold project portfolio in Finland, with gross proceeds held in escrow pending the closure of the transaction.

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