QGold raises $1.7 million in flow-through share financing

Q-Gold Resources Ltd. (TSXV: QGR; OTCQB: QGLDF; Börse Frankfurt: QX9G) completed a non-brokered private placement financing that raised $1,694,503 through the sale of flow-through common shares, according to a company statement.

The mining exploration company issued 4,841,437 common shares at $0.35 per share on a flow-through basis. The securities are subject to a four-month hold period that expires on April 24, 2026. The financing requires final approval from the TSX Venture Exchange.

QGold plans to use the proceeds to fund exploration work on its Mine Centre gold project in Ontario, Canada. The company paid finder's fees of $127,560.24 in cash and issued 364,456 non-transferable finder warrants to eligible finders. Each finder warrant allows the holder to purchase one common share at $0.35 until December 23, 2027.

The Toronto-based company focuses on gold and silver exploration and development projects across North America. Its portfolio includes the Quartz Mountain gold project in Oregon and the Mine Centre gold project in Ontario.

You May Also Be Interested In

• NordX Metals completes $1.2 million private placement
• Triumph Gold closes $5.4 million private placement financing
• Tesla stock slides as investors turn to Musk’s crown jewel SpaceX