Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Canada
  4. Bourse de Toronto
  5. Pure Gold Mining Inc.
  6. News
  7. Summary
    PGM.H   CA74624E1007

PURE GOLD MINING INC.

(PGM.H)
  Report
Delayed Bourse de Toronto  -  02:39:43 2023-02-07 pm EST
0.0150 CAD    0.00%
01/24PureGold files Notice of Intent to Delist from London Stock Exchange
AQ
01/24Correction: Pure Gold Mining Sinks 33% on Planned Delisting from London Bourse
MT
01/23TRADING UPDATES: CyanConnode to raise funds; Pure Gold cancels listing
AN
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Pure Gold Mining : Inc. Closes Previously Announced Non-Brokered Financing of Approximately C$3.47 Million

10/18/2021 | 04:26am EST

VANCOUVER - Pure Gold Mining Inc. (TSXV: PGM LSE: PUR) ('PureGold' or the 'Company') is pleased to announce that it has closed the non-brokered private placement (the 'Offering') announced on October 5, 2021.

Pursuant to the Offering, the Company issued a total of 3,307,619 units of the Company (the 'Units') to AngloGold Ashanti Limited ('AngloGold') at a price of C$1.05 per Unit, for aggregate gross proceeds of approximately C$3,473,000. The Offering brings AngloGold's ownership percentage in the Company to 14.96% of the issued and outstanding common shares on a non-diluted basis upon completion of the Offering.

Each Unit consists of one common share of the Company (a 'Unit Share') and one-half of one common share purchase warrant (each whole common share purchase warrant, a 'Warrant'). Each Warrant is transferrable and entitles the holder to acquire one common share of the Company until April 15, 2023, at a price of C$1.36.

Due to its share ownership, AngloGold is considered a 'related party' of Pure Gold and, accordingly, the Offering constitutes a 'related party transaction' within the meaning of Multilateral Instrument 61-101 ('MI 61-101'). A material change report in connection with the Offering will be filed less than 21 days before the closing of the Offering. This shorter period was reasonable and necessary in the circumstances as the Company wished to complete the Offering in a timely manner.

The net proceeds received from the Offering will be used to fund the continued ramp up of operations at its 100%-owned PureGold Mine Project located in Red Lake, Ontario, underground drilling and development of the high-grade 8 zone, and for general corporate purposes. The securities issued under the Offering have a hold period of four months and one day from closing, expiring on February 16, 2022.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered or sold to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.

ABOUT PURE GOLD MINING INC.

PureGold is a growth company, located in the very heart of Red Lake, Canada. Our objective is pure and simple. To develop a highly-profitable long life gold mining company, becoming Canada's next iconic gold producer. Our plan is very disciplined, very methodical and financially sound. To expand organically, and develop PureGold's multi-million ounce high grade gold asset incrementally, step-by-step, using a phased mining development plan to deliver maximum return.

Contact:

Adrian O'Brien

Tel: 604-809-6890

Email: aobrien@puregoldmining.ca

Forward-Looking Information

This news release contains 'forward-looking information' which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects and the expected use of proceeds of the Offering. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or variations (including negative variations) of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

(C) 2021 Electronic News Publishing, source ENP Newswire

All news about PURE GOLD MINING INC.
01/24PureGold files Notice of Intent to Delist from London Stock Exchange
AQ
01/24Correction: Pure Gold Mining Sinks 33% on Planned Delisting from London Bours..
MT
01/23TRADING UPDATES: CyanConnode to raise funds; Pure Gold cancels listing
AN
01/23CORRECTION - PureGold files Notice of Intent to Delist from London Stock Exchange
GL
01/23PureGold Filed Notice of Intent to Delist from London Stock Exchange
MT
01/23North American Morning Briefing: Stock Futures -3-
DJ
01/23Pure Gold Mining Sinks 33% on Planned Delisting from London Bourse
MT
01/23Pure Gold Mining to Delist from London Bourse in Mid-February
MT
2022TRADING UPDATES: Gulf Marine wins deal; Rockpool considers acquisition
AN
2022PureGold files Third Quarter 2022 Financials,áProvides LOM Plan and Technical Report Up..
GL
More news
Analyst Recommendations on PURE GOLD MINING INC.
More recommendations
Financials
Sales 2022 108 M 80,7 M 80,7 M
Net income 2022 -45,6 M -33,9 M -33,9 M
Net Debt 2022 93,9 M 69,9 M 69,9 M
P/E ratio 2022 -0,22x
Yield 2022 -
Capitalization 10,9 M 8,14 M 8,14 M
EV / Sales 2022 0,97x
EV / Sales 2023 0,53x
Nbr of Employees 350
Free-Float 72,4%
Chart PURE GOLD MINING INC.
Duration : Period :
Pure Gold Mining Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PURE GOLD MINING INC.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 0,02 CAD
Average target price 0,65 CAD
Spread / Average Target 4 233%
EPS Revisions
Managers and Directors
Mark G. O'Dea President, Chief Executive Officer & Director
Chris Haubrich Chief Financial Officer
Graeme Currie Chairman
Philip Smerchanski Vice President-Exploration & Technical Services
Terrence F. D. Smith Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
PURE GOLD MINING INC.0.00%8
NEWMONT CORPORATION0.85%37 782
BARRICK GOLD CORPORATION6.20%32 184
AGNICO EAGLE MINES LIMITED0.87%23 922
WHEATON PRECIOUS METALS CORP.10.98%19 752
POLYUS0.00%15 880