Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Sassy Resources closes $2.2 million Gander Gold financing

% of readers think this story is Fact. Add your two cents.


Sassy Resources Corporation (CSE:SASY) (OTCQB:SSYRF) (FRA:4E7) announced that it had closed a $2.2 million non-brokered private placement in its subsidiary Gander Gold Corporation.

The Vancouver-based company revealed that renowned resources investor Eric Sprott increased his ownership in Gander Gold to 17.35% – a holding of 10,666,666 special warrants – by purchasing $1.6 million of the $2.2 million private placement.

The exploration stage resource company said the private placement of 11 million convertible special warrants, issued at a price of $0.20 per special warrant, generated net proceeds of $2,2 million. The special warrants will be converted into shares at a date to be determined by the Gander Gold’s board, but no later than two weeks after Gander Gold becomes a reporting issuer.

READ: Sassy Resources says renowned resources investor Eric Sprott is increasing his ownership in its Gander Gold 

“The additional $2.2 million injection into Gander Gold, nearly 75% of it coming from Mr Sprott, will allow us to significantly expand our current program across multiple projects that comprise the largest land position of any public company in Newfoundland,” Sassy Resources CEO Mark Scott said in a statement.

Scott had earlier indicated that the company is “working diligently” on a plan to list Gander Gold on a Canadian exchange.

“We appreciate Mr Sprott’s additional investment in Gander Gold which lifts our total raise to $5,000,000 to date,” he added.

To date, Gander Gold has raised $5,001,208 through the issuance of convertible special warrants and shares with no finder’s fees.

Meanwhile, Scott will be part of a panel discussion on June 3 at 10:00 am PST (1:00 pm EST) as part of the Virtual Investor Day event hosted by the Newfoundland.Gold alliance.

Contact the author Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/951368/sassy-resources-closes-22-million-gander-gold-financing-951368.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

MOST RECENT
Load more ...

SignUp

Login

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.