Yesterday's announced financings: May 23

May 24, 2023 04:20 PM PST

Here’s your roundup of yesterday's announced equity financings, courtesy of PrivatePlacements.com: the only database that tracks every financing, every day.

1. Gabriel Resources Ltd. (TSX-V: GBU)

  • Gross Proceeds: $6.4 million
  • Sector: Precious metals
  • Units issued: 24.78 million
  • Type: Common shares
  • Price: $0.26
  • Warrants: None
  • Agents: Non-brokered
  • Use of Proceeds: Ongoing arbitration

Company breakdown:

  • Precious metals company with a focus on the Roşia Montană project in Romania
  • Project has 10Moz of gold 47 Moz of silver in proven and probable reserves
  • Proceeds from the financing are slated for its ongoing arbitration case against Romania before the World Bank International Centre for Settlement of Investment Disputes

2.  Lode Metals Corp. (CSE: LODE)

  • Gross Proceeds: $3 million
  • Sector: Precious metals
  • Units issued: 15 million
  • Type: Special units
  • Price: $0.20
  • Warrants: Full; $0.30; Two years
  • Agents: Non-brokered
  • Use of Proceeds: Ongoing exploration

Company breakdown:

  • Gold junior with the Cracker Creek project in Oregon
  • The area was historically mined for 525,000 ounces of gold at 24.5 grams of gold per tonne
  • Project has a historical resource of 95,000 ounces proven and probable

3. Zacapa Resources Ltd. (TSX-V: ZACA)

  • Gross Proceeds: $2 million
  • Sector: Precious metals
  • Units issued: 40 million
  • Type: Special units
  • Price: $0.05
  • Warrants: Full; $0.075; Three years
  • Agents: Non-brokered
  • Use of Proceeds: Ongoing exploration

Company breakdown:

  • A new precious metals and copper junior focused on projects in Idaho, Nevada, and Arizona
  • Its South Bullfrog project is located on the same trend as the Bullfrog Mine in Nevada, which historically produced 2.04 million ounces at 3.2 g/t Au

4. Resouro Gold Inc. (TSX-V: RAU)

  • Gross Proceeds: $1.25 million
  • Sector: Precious metals
  • Units issued: 8.33 million
  • Type: Common shares
  • Price: $0.15
  • Warrants: None
  • Agents: Taylor Collison Ltd.
  • Use of Proceeds: Ongoing exploration

Company breakdown:

  • Titanium and gold junior focused on projects in Brazil
  • Its Novo Mundo project has a historical resource of 160,000 ounces of gold at 2.99 g/t Au

5. Gensource Potash Corp. (TSX-V: GSP)

  • Gross Proceeds: $800,000
  • Sector: Fertilizer development
  • Units issued: 5.33 million
  • Type: Special units
  • Price: $0.15
  • Warrants: Full; $0.30; Two years
  • Agents: Non-brokered
  • Use of Proceeds: Ongoing exploration

Company breakdown:

  • Fertilizer development company that aims to use potash to improve crop yields and improve sustainability
  • Shares of the company rose after potash was called "essential" by finance minister Chrysita Freeland last August, but have declined since

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