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The latest announcement is out from Hemlo Explorers ( (TSE:RSG) ).
Rocky Shore Gold Ltd. has launched a non-brokered private placement to raise up to $5 million through the sale of units at $0.175 each, with every unit comprising one common share and a three-year share purchase warrant exercisable at $0.30. Proceeds will fund general corporate purposes and further work at the company’s flagship Gold Anchor Project in central Newfoundland, with securities subject to a four-month-plus-one-day hold and potential finder’s fees in line with Canadian securities regulations. Insiders are expected to participate under related-party transaction exemptions, and Northfield Capital Corporation and its CEO Robert Cudney intend to invest up to $1 million for as many as 5,714,285 units, signaling strong insider and strategic support for Rocky Shore’s exploration and growth plans.
More about Hemlo Explorers
Rocky Shore Gold Ltd. is a Canadian junior gold exploration company focused on expanding its Mosquito Hill and Reid gold deposits and discovering high-grade, structurally controlled gold zones at its 100%-owned Gold Anchor Project in central Newfoundland. The district-scale Gold Anchor property, covering more than 1,200 square kilometres, lies within one of Canada’s most promising and underexplored gold belts and is on trend with major recent gold discoveries associated with the Appleton and JBP Faults.
Average Trading Volume: 228,702
Technical Sentiment Signal: Buy
Current Market Cap: C$37.37M
For a thorough assessment of RSG stock, go to TipRanks’ Stock Analysis page.