Roxgold Inc.said July 14 that International Finance Corp. has exercised 12.9 million warrantsto acquire 1 additional common share of the company at 90 Canadian cents each fortotal proceeds of about US$9 million.
Company President and CEO John Dorward said that this early exercisewill give the company financial flexibility to accelerate exploration at the project in BurkinaFaso.
"Our goal is that further exploration will support additionalgold production and mine life growth at Yaramoko, and we thank IFC for having exercisedtheir warrants early to support an aggressive program commencing in the fourth quarter."
In May, Roxgold pouredfirst gold at the Yaramoko gold project, with the initial pour totaling 1,020 ounces.
IFC was issued the warrants in September 2015.