Pure Gold Mining : Raises $5 Million as AngloGold Raises Stake to 16%

By Adria Calatayud

Pure Gold Mining Inc. said Tuesday it has received an additional $5 million investment as the company's largest shareholder, AngloGold Ashanti Ltd., raised its stake to 16%.

AngloGold exercised share-purchase warrants with a strike price of $0.85, Pure Gold said. According to FactSet, AngloGold previously had a 12.99% stake in Pure Gold.

Pure Gold, a Canada- and U.K.-listed company, said it is in a solid financial position to complete construction of its Pure Gold mine in Canada while also advancing its exploration program.

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