Big Ridge Gold Announces $7 Million Private Placement, Gentile Raises Stake to 19.9%
Big Ridge Gold Corp. (TSXV: BRAU) launched a non-brokered private placement of 23.3 million units at $0.30 per unit for C$7.0 million gross proceeds, with strategic shareholder Michael Gentile increasing his position to 19.9%.
Big Ridge Gold Corp. initiated a non-brokered private placement of 23,333,333 common share units at $0.30 per unit for gross proceeds of C$7.0 million [1]. Each unit consists of one common share and one common share purchase warrant [1]. The offering is supported by existing strategic shareholders, with Michael Gentile increasing his ownership position to 19.9% [1].
The placement represents a material capital raise for the Toronto-based gold exploration company. The $0.30 unit price and warrant structure provide immediate equity capital while giving participants optionality tied to future share price performance. The company disclosed that Michael Gentile, already a strategic holder, is participating at a level that will lift his stake to 19.9% of the issued share capital following closing.
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