Pure Gold Mining to Raise C$3.5 Million Via Share Issue to AngloGold Ashanti

By Ian Walker

Pure Gold Mining Inc. said Wednesday it is raising 3.5 million Canadian dollars (US$2.8 million) via a share issue to AngloGold Ashanti Ltd. and will use the money to fund operations at the Red Lake project in Ontario, as well as for general corporate purposes.

The London- and Toronto-listed company said it will issue 3.3 million units to AngloGold at C$1.05 each. Each unit is one common share and half a common-share purchase warrant. Each warrant entitles the owner to buy one common share within the next 18 months at C$1.36.

AngloGold currently owns 14.3% of Pure Gold's issued share capital, and is the company's largest shareholder, according to FactSet.

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(END) Dow Jones Newswires

10-06-21 0323ET