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HighGold Mining announces C$9.3M bought deal financing to advance exploration

Its flagship asset is Johnson Tract - a gold, zinc, copper property near tidewater, 125 miles (200 km) southwest of Anchorage in Alaska

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The firm said the funds will be used for on-going exploration at its properties and for general corporate purposes

HighGold Mining Inc (CVE:HIGH) announced Friday a C$9.3 million bought deal financing to be used for on-going exploration at its properties and for general corporate purposes. 

The group's flagship asset is Johnson Tract - a gold, zinc, copper property near tidewater, 125 miles (200 kilometers) southwest of Anchorage in South Central Alaska. The firm also holds gold assets in Canada. 

READ: HighGold Mining reports encouraging assay results for the first two holes drilled at flagship Johnson Tract Gold property

Sprott Capital will act as lead underwriter on its own behalf and, if applicable, of a syndicate, which will purchase C$9,304,000 of the firm's shares, HighGold said in a statement.

The offering comprises 1.28 million shares issued on a flow-through basis, which may be gifted or sold by the initial purchaser at C$1.80 each, and 5.6 million (C$7,000,000) shares at C$1.25 each.

Notably, the underwriters have the option to increase the offering by up to an additional 20%.

Earlier this week, HighGold reported encouraging assay results for the first two holes of a nine-hole drill program completed at Johnson Tract.

In a statement, HighGold said that the assays showed exceptional widths of continuous high-grade gold and base metal mineralization have been intersected.

Quick facts: HighGold

Price: 1.55 CAD

TSX-V:HIGH
Market: TSX-V
Market Cap: $62.04 m
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Full interview: HighGold Mining prepares plan for busy season at Johnson...

HighGold Mining (CVE: High-OTCQB: HGGOF) CEO Darwin Green joined Steve Darling from Proactive Vancouver to provide an update on their field season for the Johnson Tract project in Alaska. Green telling Proactive when they would like to have drills turning this year and also the reaction about...

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