Masuparia Closes Private Placement Financing
Masuparia Gold Corporation (TSX.V: MAS) (“Masuparia” or the “Company”) has closed its private placement financing (see news releases of September 18 and 26, 2017), subject to regulatory acceptance.
Gross proceeds of $440,000 have been realized from the sale of 5,500,000 Units (“Units”) at a price of $0.08 CDN per unit, subject to regulatory approval. Each Unit is comprised of one common share and one full warrant for one common share exercisable for 2 years at $0.12 CDN. Shares issued under this financing are subject to a hold period of 4 months from the closing date of the offering.
Finders’ fees totaling $960 were paid to qualified agents on a portion of the funds raised in accordance with Exchange regulations.
Funds from this financing will be used towards general working capital.
About Masuparia Gold
Masuparia Gold Corporation is a Canadian mineral exploration company focused on exploration projects in Saskatchewan. Masuparia currently is the Operator of a joint venture in the La Ronge Gold Belt of Saskatchewan on three properties: Greywacke Lake, North Lake and Preview Lake. The Company believes the Greywacke Lake gold project to be an excellent regional exploration opportunity within the large 5,786 hectare project area. The Greywacke North deposit is at an advanced stage with several known high-grade gold-bearing zones and a NI 43-101 compliant Indicated Mineral Resource of 255,500 tonnes at 9.92 g/t Au plus an Inferred Mineral Resource of 59,130 tonnes at 7.42 g/t Au (at a cut-off of 5 g/t Au) (Masuparia’s 43-101 Technical Report of June 1, 2016 is available on SEDAR and the Company’s website).
On Behalf of the Board of Directors of
Masuparia Gold Corporation
Ronald K. Netolitzky
President & CEO