An anonymous director reports
AUGUSTA GOLD ANNOUNCES FULLY SUBSCRIBED PRIVATE PLACEMENT OF C$15 MILLION
Augusta Gold Inc. has arranged a fully subscribed non-brokered private placement raising approximately $15-million.
Pursuant to the private placement, Augusta will offer 6.7 million units at a price of $2.25 per unit with each unit comprising one common share of the company and one-half of one common share purchase warrant. Each full warrant entitles the holder to acquire one common share for a period of three years at an exercise price of $2.80. The proceeds from the private placement will be used to advance exploration efforts at its highly prospective wholly owned Bullfrog gold project located in Nevada, United States, and for general and working capital purposes.
The private placement is fully subscribed by the company's insiders including Richard Warke and other strategic investors.
About Augusta Gold Corp.
Augusta Gold is a rapidly growing exploration and development company focused on building a long-term business that delivers stakeholder value through developing the Bullfrog gold project and pursing accretive M&A (merger and acquisition) opportunities. The Bullfrog gold project is located in the prolific Bullfrog district approximately 120 miles northwest of Las Vegas, Nev., and four miles west of Beatty, Nev. The company controls approximately 7,800 acres of mineral rights including the Bullfrog and Montgomery-Shoshone deposits and has further identified significant additional mineralization around the existing pits and defined several exploration targets that could further enhance the project. The company is led by a management team and board of directors with a proven record of success in financing and developing mining assets and delivering shareholder value.
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