{"id":29682,"date":"2024-07-15T09:26:42","date_gmt":"2024-07-15T13:26:42","guid":{"rendered":"https:\/\/capital10x.com\/old\/?p=29682"},"modified":"2024-07-15T09:26:42","modified_gmt":"2024-07-15T13:26:42","slug":"element79-gold-closes-first-tranche-of-private-placement","status":"publish","type":"post","link":"https:\/\/capital10x.com\/old\/element79-gold-closes-first-tranche-of-private-placement\/","title":{"rendered":"Element79 Gold Closes First Tranche of Private Placement"},"content":{"rendered":"<p>Further to the Corporation\u2019s previous Financing announcement released on July 3, 2024,\u00a0<strong>Element79 Gold Corp (CSE: ELEM) (OTC: ELMGF)<\/strong>\u00a0announced the successful completion of its first tranche of its placement for $288,815 of funding through its Non-Brokered Private placement.<\/p>\n<p>This tranche of closing will see the Company issue a total of 1,255,717 Units for this tranche.<\/p>\n<h3><strong>Terms<\/strong><\/h3>\n<p>The Placement consists of Units of the Company (each a \u201cUnit\u201d) at a purchase price of $0.23 per Unit. \u00a0Each Unit will be comprised of one common share of the Company (a \u201cCommon Share\u201d) and one common share purchase warrant (each a \u201cWarrant\u201d). Each Warrant will be exercisable for one Common Share at a price of $0.35 per Common Share for four (4) years from the date of issuance. \u00a0 All securities issued for the placement will be subject to a four month and one day hold from the date of issue, keeping with CSE regulations.<\/p>\n<p>The warrants are subject to an acceleration clause whereby should the shares of the Company trade at or above $0.40 per share on the North American stock exchange on which it is then listed for ten consecutive trading days (after the date that is four months and one day from the closing of the Offering) the warrants may be accelerated.<\/p>\n<p>Element79 shall continue to seek funds, anticipating closing its final tranche of up to an aggerate of $450,000 within the following two weeks.<\/p>\n<h3><strong>About Element79 Gold Corp<\/strong><\/h3>\n<p>Element79 Gold is a mining company focused on gold and silver committed to maximizing shareholder value through responsible mining practices and sustainable development of its projects. \u00a0Element79 Gold&#8217;s focus is on developing its past-producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to restart production beginning in 2024.<\/p>\n<p>The Company also holds a portfolio of 5 properties along the Battle Mountain trend in Nevada, with the Clover and West Whistler projects believed to have significant potential for near-term resource development. Three properties in the Battle Mountain Portfolio are under contract for sale to Valdo Minerals Ltd., with an anticipated closing date in 2024.<\/p>\n<p>The Company, through its subsidiary, Synergy Metals Corp., holds an option to acquire a 100% interest in the Dale Property, 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, and is advancing through the Plan of Arrangement spin-out process.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Element79 Gold Closes the first tranche of an oversubscribed offering and anticipates raising another $400,000 in the coming weeks.<\/p>\n","protected":false},"author":30,"featured_media":29276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[56,2429],"tags":[2444,2455,2447,2443,2476,2141,2461,1467,2456,2460],"class_list":{"0":"post-29682","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-featured","8":"category-gold-silver","9":"tag-cse-elem","10":"tag-element-79-gold-corp","11":"tag-element79","12":"tag-element79-gold-corp","13":"tag-gold-pennystocks","14":"tag-investing-in-gold","15":"tag-investing-in-gold-miners","16":"tag-junior-gold-miners","17":"tag-otc-elmgf","18":"tag-small-cap-gold-miners"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Element79 Gold Closes First Tranche of Private Placement | Capital 10X<\/title>\n<meta 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