Vancouver-based Artemis Gold has raised C$32.6 million (about $24 million) through a non-brokered private placement. The company issued approximately 36.3 million units at a price of C$0.90 per unit.
Each unit consists of one common share and one purchase warrant, allowing the holder to purchase one additional common share of Artemis at C$1.08 each for a period of 60 months.
Artemis plans to use the proceeds of the offering to further explore the GK property in the Telegraph Creek area. The property was optioned from Strategic Metals in June 2019. The GK property was the target of historic exploration from 1916 to 1991 and again in 2005. With only two holes drilled on the property, no resource estimate has yet been made.
(This article first appeared in the Canadian Mining Journal)