Monarch Gold Corporation (TSX:MQR) announced that it has entered into an agreement for a bought deal private placement of 4,870,000 quebec flow-through units at a price of CAD 0.72 per quebec flow-through unit for gross proceeds of CAD 3,506,400 and 6,150,000 flow-through units at a price of CAD 0.57 per unit for gross proceeds of CAD 3,505,500, for aggregate gross proceeds of CAD 7,011,900 on August 25, 2020. Each quebec flow-through unit consist of one common share and one-half of one common share purchase warrant. Each flow-through unit consist of one common share and one-half of one warrant. Each warrant will entitle the holder thereof to purchase one common share of the company at an exercise price of CAD 0.60 for a period of 24 months following the closing of the transaction. The underwriters have also been granted an option exercisable, in whole or in part, up to 48 hours prior to the closing date to increase the size of the transaction by up to approximately CAD 3,000,000, in any combination of quebec flow-through units at the quebec flow-through offering price and/or flow-through units at the flow-through offering price. The transaction is scheduled to close on or about September 17, 2020. The transaction is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the conditional approval of the Toronto Stock Exchange.