Vancouver, Feb. 17, 2021 - Edgemont Gold Corp.
(CSE: EDGM) is pleased to announce that, due to demand, it has increased the non-brokered private placement of 8,750,000 units announced on February 2, 2021 to 10,247,500 units at $0.20 per unit, for gross proceeds to the Company of $2,049,500. This placement has now closed, with all securities issued with respect to this private placement subject to a four month plus a day hold period expiring on June 18, 2021, in accordance with applicable securities laws.
Each unit is comprised of one common share and one half warrant, with each full warrant entitling the holder to purchase an additional common share at an exercise price of $0.30 per share for a period of one year from the date of closing. Finder's fees in cash of $99,330 have been paid on a portion of this placement along with the issuance of 496,650 finders' warrants. The finders' warrants have the same terms and conditions as the subscriber warrants issued under the offering.
The net proceeds of this private placement will be used to fund drilling planned for this spring on the Company's Dungate copper/gold porphyry project near Houston. B.C. and for working capital.
Edgemont is currently actively exploring the Dungate copper/gold porphyry project located just 6 km south of Houston in the Omenica Mining Division of northern British Columbia. The property consists of five mineral tenures covering 1,582.2 hectares and can be explored year round by all-season roads. For more information, please visit our web site at www.edgemontgold.com.
For further information, please contact:
Chief Executive Officer
Edgemont Gold Corp.
Tel: (778) 239-3775
Neither the Canadian Securities Exchange nor its Market Regulator (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.