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St James Gold Corp
Symbol LORD
Shares Issued 29,654,449
Close 2023-09-12 C$ 0.20
Market Cap C$ 5,930,890
Recent Sedar Documents

St. James arranges $560,000 private placement

2023-09-12 20:54 ET - News Release

Mr. Jiang Yu reports

ST. JAMES GOLD CORP. ANNOUNCES PRIVATE PLACEMENT

St. James Gold Corp. will conduct a non-brokered private placement of 3.5 million units at a price of 16 cents per unit for gross proceeds of $560,000. Each unit will be composed of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of 20 cents per share for a period of two years from the date of issue.

All securities issued in connection with the offering will be subject to a four-month statutory hold period.

The company will pay commissions of 5 per cent in cash and 5 per cent in broker/finders' warrants to registered investment dealers and brokers or to finders in jurisdictions where permitted by law. Each finder's warrant will entitle the holder to purchase one additional common share at a price of 20 cents per share for a period of one year from the date of issue.

The proceeds of the offering will be used to pay outstanding indebtedness, to conduct exploration work on the company's Newfoundland properties, to conduct due diligence on potential acquisitions and for general corporate purposes.

Completion of the private placement remains subject to the approval of the TSX Venture Exchange.

About St. James Gold Corp.

St. James is a publicly traded company listed on the TSX Venture Exchange under the trading symbol LORD, in the U.S. market listed on the OTCQB under LRDJF and on the Frankfurt Stock Exchange under BVU3. The company is focused on creating shareholder value through the discovery and development of economic mineral deposits by acquiring prospective exploration projects with well-delineated geological theories, integrating all available geological, geochemical and geophysical data sets; and financing efficient exploration programs. The company currently holds: (i) a 100-per-cent stake in 29 claims, covering 1,791 acres, in the Gander gold district in north-central Newfoundland located adjacent to New Found Gold Corp.'s Queensway North project; and (ii) a 100-per-cent stake in nine claims and an option to acquire a further 100-per-cent interest in 19 claims, covering a total 1,730 acres, in central Newfoundland located adjacent to Marathon Gold's Valentine Lake property.

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