- Sitka Gold Corp (SIG) successfully raised $11.86 million through brokered and non-brokered private placements.
- The capital will fund exploration expenses at the RC Gold Project in Yukon Territory, Canada.
- The company paid $600,000 in cash commissions and issued 882,352 compensation options to underwriters.
Sitka Gold Corp (SIG) has completed an $11.86 million financing round. This was achieved through a combination of brokered and non-brokered private placements. The brokered placement, led by Beacon Securities and a syndicate of underwriters, raised $10 million by issuing 14,705,882 flow-through shares priced at $0.68 each. An additional $1.86 million was secured through a non-brokered offering of 2,738,593 flow-through shares at the same price.
The proceeds from this financing will be directed towards Canadian exploration expenses at the company's RC Gold Project in the Yukon Territory. These expenses will be qualified as "flow-through mining expenditures" under the Income Tax Act of Canada. All qualifying expenditures will be renounced in favor of the subscribers by December 31, 2025.
For the brokered portion of the offering, Sitka Gold paid a $600,000 cash commission and issued 882,352 compensation options to the underwriters. These options allow holders to acquire one common share of the company at $0.68 for a period of 24 months. However, these shares and options will be subject to a four-month hold period under applicable Canadian securities laws.
Both the brokered and non-brokered offerings are subject to the final approval of the TSX Venture Exchange. Sitka Gold Corp is a well-funded mineral exploration company focused on identifying economically viable mineral deposits, with special emphasis on gold, silver, and copper properties, and holds no debt.
