Gowest Closes Private Placement de risking even more.
I see this as great news and small Equity financing at .20 is good with me. $2.5 Million less dollars needed to get under ground, making it easier to get creative with the other partners for the remaining balance of about $15M. Also allows the work to continue and substantiates the integrity and value of the project. Also 95k came from the insiders
2016-11-10T13:07:59+00:00
TORONTO, ONTARIO--(Marketwired - Nov. 10, 2016) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Gowest Gold Ltd. ("Gowest" or the "Corporation") (TSX VENTURE:GWA) announced today that it has closed a non-brokered private placement of 12,225,000 "flow-through" common shares of the Corporation and 325,000 non-"flow-through" common shares of the Corporation (collectively, the "Shares"), at a price of $0.20 per Share, for aggregate gross proceeds of $2,510,000 (the "Offering").
The proceeds derived from the sale of the Shares will be used to advance the property surface development work prior to the beginning of the previously announced (See Gowest press release October 31, 2016) underground development for the bulk sample on Gowest's 100% owned Bradshaw Gold Deposit and exploration work on the Company's North Timmins Gold Project.
