Mayfair Gold Increases Private Placement Financing
VANCOUVER, British Columbia, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Mayfair Gold Corp. (“Mayfair” or the “Company”) (TSX-V: MFG; OTCQB: MFGCF) today announced that the previously announced non-brokered private placement financing of common shares has been increased from $5 million to $6.05 million due to strong demand.
- VANCOUVER, British Columbia, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Mayfair Gold Corp. (“Mayfair” or the “Company”) (TSX-V: MFG; OTCQB: MFGCF) today announced that the previously announced non-brokered private placement financing of common shares has been increased from $5 million to $6.05 million due to strong demand.
- The Company announced on October 10, 2023, that it had arranged a non-brokered private placement financing of 2,381,000 common shares (the “Shares”) at a price per Share of $2.10 for gross proceeds of approximately $5 million, and a concurrent non-brokered private placement financing of 2,040,000 common shares on a flow-through basis (the “FT Shares”) at a price per FT Share of $2.94 (together the “Offering”) for gross proceeds of approximately $6 million.
- Under the increased Offering, the Company will issue 2,881,000 Shares at a price per Share of $2.10 for gross proceeds of approximately $6.05 million.
- Proceeds of the Offering will be used to further exploration, and metallurgical and engineering studies at the Fenn-Gib gold project in the Timmins region of Ontario.