Goldgroup Mining Secures Additional $774,999 in Second Tranche Closing
Vancouver, British Columbia -- March 28, 2025 -- NewsGenie -- Goldgroup Mining Inc. (TSX-V:GGA, OTC:GGAZF) has announced the second tranche closing of its non-brokered private placement. The Company issued 2,583,330 units at CAD $0.30 per Unit, generating approximately CAD $774,999.
The company has issued 25,916,664 Units for gross proceeds of approximately CAD $7,774,999 inclusive of the first and second tranche closings.
Each unit includes one common share and one-half of a common share purchase warrant. Each warrant allows the holder to purchase one common share at $0.45 within 24 months of issuance.
Goldgroup plans to allocate the net proceeds to improvements at the Cerro Prieto mine, updating the Pinos Project preliminary economic assessment, debt reduction, and for general working capital. The securities from this tranche are subject to a four-month hold, expiring on July 28, 2025. The closing remains subject to final TSX Venture Exchange approval.
The company paid finders fees of $300 relating to the second tranche. Goldgroup is a Canadian mining company operating the Cerro Prieto heap-leach gold mine in Sonora, Mexico.
Ralph Shearing, CEO of Goldgroup, can be reached at +1 (604) 764-0965. Additional information is available at www.goldgroupmining.com.