Spanish Mountain Gold (TSE:SPA) has released an update.
Spanish Mountain Gold Ltd. has successfully completed the first tranche of its private placement, raising over $3.3 million by issuing 7.8 million flow-through units and 6.9 million non flow-through units. The funds will support exploration and development of the Spanish Mountain Gold project and cover general capital needs. The placement also included finder’s fees and the issue of compensation warrants, with insider participation classified as a ‘related party transaction’.
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