logo-loader

Meadow Bay Gold raises $254,000 in private placing

Last updated: 05:03 08 Mar 2016 EST, First published: 00:03 08 Mar 2016 EST

Nevada2
The group is a Nevada focused gold explorer....

Nevada focused mining explorer Meadow Bay Gold (TSE:MAY, OTCQB:MAYGF) has completed a share placing, raising $254,000 for working capital.

The firm sold 5.08 million units at 5 cents each, with each unit consisting of one common share and one warrant exercisable to purchase a further share at 6 cents for five years.

President and chief executive Christopher Crupi, particpated in the fundraise, subscribing for 1.75 million units for a transaction price of $87,500 -  less than 25% of the firm's market cap.

Net proceeds from the private placing will be used for general working capital, the group said.

Meadow Bay Gold moving ahead in Nevada

Chris Crupi, chief executive of Meadow Bay Gold (TSE:MAY) discusses the recent results and next steps for the company and its Atlanta Gold Mine in Nevada. This week the firm told investors that a first drill hole at the site in Lincoln County penetrated the Atlanta Shear Zone, which...

on 10/28/2015