Labrador Gold: raises $2 million from exercise of share purchase warrants
(Bold added by me in the text below)
TORONTO, ON, July 24, 2020 – Labrador Gold Corp. (TSX-V: LAB) (“LabGold” or the “Company”) is pleased to announce that it has raised $2,039,233 from the exercise of share purchase warrants (the “warrants”) with a strike price of $0.35 and $0.40. Evanachan Limited, a company owned by Mr. Rob McEwen, Chairman and Chief Owner of McEwen Mining Inc. elected to exercise 100% of warrants held. The warrant exercise increases the Company’s cash position to $7.1 million.
“I would like to thank all of our long-term shareholders for increasing their shareholding in the Company through the exercise of warrants. These new funds allow us to aggressively explore our Kingsway Project and position us for discovery,” said Roger Moss, President and CEO. “LabGold has a very prospective land position in what we believe will develop into a significant gold district with more discoveries to come. I invite you to continue this exciting journey with us.”
The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.
CLICK HERE to read the full news release form Labrador Gold Corp (LAB.V).
