Highway 50 increases private placement to $2.1-million

Executive Summary

• Highway 50 Gold Corp. has upsized its non-brokered private placement of units, increasing the total gross proceeds to up to $2.1 million.
• The offering involves the issuance of up to 5.25 million units at a price of $0.40 per unit, with each unit comprising one common share and one common share purchase warrant.
• Proceeds are designated for a drill program at the Gold Knob project and general working capital.

Key Details

• Gross Proceeds: Up to $2.1 million.
• Units Issued: Up to 5.25 million units.
• Price Per Unit: $0.40.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of $0.50 per share.
• Warrant Expiry: One year from the closing date of the offering.
• Use of Proceeds:
  1. Drill program at the company's Gold Knob project.
  2. General working capital purposes.
• Hold Period: Four-month hold period applies to securities issued, in accordance with applicable securities laws and exchange rules.
• Finders' Fees: 6% (or other amount determined by the company) may be paid to arm's-length finders in cash and/or finders' warrants.
• Regulatory Status: Offering subject to acceptance of the exchange.

Notable Quotes

• None provided in the text.