Big Gold Closes Upsized Non-Brokered Private Placement
Executive Summary
- Big Gold Inc. closed an upsized non‑brokered private placement, issuing 13,750,000 HD Units at $0.04 and 2,222,222 FT Units at $0.045, raising a total of $650,000 in gross proceeds.
- The offering includes flow‑through units; all proceeds from the FT Units will be used for Canadian exploration expenses and qualifying flow‑through mining expenditures through Dec 31 2027.
- Alex Pekurar was appointed Chief Financial Officer, replacing Jennifer McGuinty.
Key Details
- Units Issued:
- 13,750,000 non‑flow‑through Hard (HD) Units @ $0.04 each → $550,000 gross proceeds.
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2,222,222 flow‑through (FT) Units @ $0.045 each → $100,000 gross proceeds.
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Unit Composition:
- Each HD Unit = 1 common share + ½ of a common share purchase warrant (full warrant gives right to buy 1 share at $0.075 for 36 months).
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Each FT Unit = 1 flow‑through common share + ½ of a common share purchase warrant (same exercise terms as HD warrants).
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Warrant Allocation:
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Finder’s fees paid: $47,200 cash plus 807,777 non‑transferable warrants (exercise price $0.075, 3‑year term).
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Use of Proceeds – FT Units:
- Entire amount directed to Canadian Exploration Expenses and flow‑through mining expenditures as defined under the Income Tax Act (Canada) and Ontario tax provisions.
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Expenditures must be incurred by 31 Dec 2027 with renunciation completed no later than 31 Dec 2026.
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Corporate Update:
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Alex Pekurar appointed CFO, effective immediately; brings 13+ years of senior finance experience and CPA designation.
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Regulatory Notes:
- Offering made under NI 45‑106 Listed Issuer Financing Exemption; no statutory hold period applies.
- Securities not offered or sold in the United States absent registration/exemption.
Notable Quotes
“We are pleased to close this financing, which provides us with the capital needed to advance our exploration programs and demonstrates strong investor confidence in Big Gold’s growth strategy.” – Scott Walters, President & CEO
Materiality Assessment: Material – Positive (significant cash infusion supporting exploration activities).