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Atlantic Gold raises C$9.2M for exploration in Nova Scotia


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Atlantic Gold raises C$9.2M for exploration in Nova Scotia

Atlantic Gold Corp. raised C$9.2 million through a previously announced bought-deal financing and nonbrokered private placement comprising flow-through shares, it said Sept. 22.

The company raised about C$5.7 million through the issuance of 5,474,000 flow-through common shares at C$1.05 apiece. The bought-deal financing was led by National Bank Financial Inc. and included Haywood Securities Inc.

The underwriters subsequently exercised the underwriter's option to raise an additional C$749,700.

Meanwhile, the nonbrokered private placement raised about C$3.4 million through the issuance of 3,285,550 flow-through common shares at the same price.

The over-allotment option was exercised to raise an additional C$449,978.

Proceeds will be used for the resource definition drilling program on the company's Cochrane Hill and Fifteen Mile Stream gold deposits as well as exploration programs on other prospects in Nova Scotia.