Goldseek Resources Inc (CSE:GSK) (CNSX:GSK) has raised C$907,750 via a flow-through placing, which the explorer will use to continue to advance its Quebec properties.
The group issued over 2.4 million flow-through (FT) units at C$0.37 each for gross proceeds of $907,750.
READ: Goldseek Resources bolsters portfolio as it stakes Val D'Or North property
Each Quebec FT unit consists of one share, which is a "flow-through" share for Canadian income tax purposes, and one-half of one warrant, exercisable at $0.60 per share two years after closing. The warrants are subjected to accelerated expiry.
"We appreciate the continued support of our institutional shareholders as we position the company to benefit from being in the early stages of this gold bull market," Goldseek's chief executive Jon Deluce said in a statement.
"We are well funded for continuous work programs through the end of 2021 to target grassroots discovery on our 5 projects. We continue to prepare for our December maiden drill program at our Bonanza Project (Urban Barry)."
Goldseek Resources has four wholly-owned exploration projects in currently active Canadian gold camps: the Hemlo camp, the Detour Gold Trend, Urban Barry and Quevillon.
On November 3, it said that survey results from its Bonanza property in Quebec had defined new surface trenching and preliminary drill targets.
Contact the author at giles@proactiveinvestors.com
