Athena Gold closes second tranche, raises C$270,500 in private placement

Athena Gold Corporation (CSE: ATHA) (OTCQB: AHNRF) closed the second tranche of its private placement financing, raising C$270,499.98 through the issuance of 150,000 flow-through units at C$0.07 per unit and 4,333,333 non-flow-through units at C$0.06 per unit, according to a company statement.

The company previously raised C$2,727,526.03 in the first tranche of the offering. Combined proceeds from both tranches total approximately C$3 million.

Athena Gold received approval from the Canadian Securities Exchange to increase the total offering size to C$4.2 million due to demand. The expanded offering consists of C$2.2 million in flow-through units, C$1.1 million in flow-through common shares, and C$900,000 in non-flow-through units.

Each flow-through unit includes one flow-through common share and one-half of a warrant exercisable at C$0.09 for 24 months. Non-flow-through units contain one common share and one warrant with the same exercise terms.

The flow-through shares qualify as flow-through shares under Canadian tax law, with some qualifying for the Critical Mineral Exploration Tax Credit. Proceeds will fund exploration at the company's Laird Lake and Oneman Lake projects in Ontario.

Non-flow-through unit proceeds will support additional exploration work and general administrative expenses. No finder's fees were paid and no insiders participated in the second tranche.

The company expects to close the third tranche by the end of this week. All securities are subject to a four-month and one-day hold period.

Athena Gold operates mineral exploration projects including the Laird Lake project in Ontario's Red Lake Gold District and the Excelsior Springs project in Nevada.

You May Also Be Interested In

• QSE closes $6M private placement with final tranche of $674K
• Applied Optoelectronics sets up $600M at-the-market stock offering
• Alzamend Neuro (ALZN) files for 98.4M share offering by selling stockholders