- Black Dragon Gold (BDG) has received commitments from institutional and sophisticated investors to undertake a $1.5 million placement
- The company received commitments for over 21 million CHESS depositary interests (CDIs) for seven cents per CDI
- Funds from the placement will go towards the development of the Salave Gold Project in Northwest Spain
- On market close, Black Dragon is up 22.2 per cent and is trading for 11 cents per share
Black Dragon Gold (BDG) has received commitments from institutional and sophisticated investors to undertake a $1.5 million placement.
The company received commitments for over 21 million CHESS depositary interests (CDIs) for seven cents per CDI.
Funds from the placement will go towards the development of the Salave Gold Project in Northwest Spain, due diligence investigation on potential project acquisitions and working capital.
Executive Director Paul Cronin is pleased with the placement.
“I am pleased that this placement was very well supported and we are now resourced to continue to push the progression of the company’s Salave Gold Project in Spain as well as undertake a review of complementary resource projects,” he said.
“Our restrained expenditure has led to this placement being sized appropriately and I look forward to providing further updates as we progress our plan,” he added.
On market close, Black Dragon is up 22.2 per cent and is trading for 11 cents per share.