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Metal & Mining Stocks
Boreal Gold Inc. (CSE: BGLD) Completes $88,650 First Tranche Financing
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Highlights
Boreal Gold Inc. (CSE: BGLD) has successfully completed the first tranche of its non-brokered private placement, raising a total of $88,650. The financing involved the issuance of 295,500 Flow-Through Shares priced at $0.30 per unit. This marks the initial phase of a larger financing plan, with a second tranche expected to close by April 30, 2025. The total offering aims to raise funds for the advancement of Boreal Gold's exploration projects.
The proceeds from the financing will primarily be allocated to ground geophysical surveys and drill testing at the company's Fay Lake and Puffy Lake properties. At Fay Lake, geophysical surveys will cover areas previously unexplored, particularly focusing on the western and eastern portions of the Fay Lake grid. These efforts will aim to confirm airborne conductors and help identify drill targets. Additionally, mapping, prospecting, and sampling are planned at the Redwin VMS horizon, an area with identified conductors.
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