Stuve Gold Completes $350,000 Private Placement to Fund Coba SW Project
Calgary, Alberta -- August 9, 2021 -- NewsGenie -- Stuve Gold Corp. (TSXV:STUV) has announced the closing of its private placement, initially announced on April 22 and June 9, 2021. The placement involved the sale of 1,750,000 units at $0.20 per unit, resulting in gross and net proceeds of $350,000 for the Corporation. Each unit included one common share and one common share purchase warrant, with each warrant allowing the holder to acquire a common share at $0.35 until August 6, 2023.
The proceeds will fund the initial drilling program for Stuve Gold’s Coba SW project. The private placement is still subject to final approval by the TSX Venture Exchange, and the securities issued are subject to a four-month hold period. An insider subscribed for 125,000 units, representing 7.1% of the private placement, classifying it as a "related party transaction" under Multilateral Instrument 61-101.
Stuve Gold is focused on advancing mineral properties in Chile with potential for gold, copper, silver, and cobalt, including the ‘Coba SW’, ‘Inca’, and ‘Santa Gracia’ properties. Stuve Gold's shares are listed on the TSX-V under the symbol "STUV".