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An update from Stuve Gold Corp. ( (TSE:STUV) ) is now available.
Stuve Gold Corp. has closed a non-brokered private placement of 9,500,000 units at $0.06 per unit, raising gross proceeds of $570,000, with each unit consisting of one common share and one warrant exercisable over two years at escalating prices and subject to an acceleration clause. The company plans to use the funds for general and administrative expenses, mineral claim tax payments, and exploration work, while insider participation accounted for roughly 20% of the financing under related-party rules, and Tailwind Capital Neo Fund Ltd. has increased its stake to 4.45% of Stuve Gold’s outstanding shares, with potential to become a major shareholder upon any future conversion of its term loan, subject to regulatory and shareholder approvals.
More about Stuve Gold Corp.
Stuve Gold Corp. is a Calgary-based mineral exploration company focused on advancing its portfolio of gold and other mineral properties. The company operates in the resource exploration sector and funds its activities primarily through equity financings and related-party support typical of early-stage mining issuers on the TSX Venture Exchange.
Average Trading Volume: 29,220
Technical Sentiment Signal: Buy
Current Market Cap: C$2.72M
For detailed information about STUV stock, go to TipRanks’ Stock Analysis page.