Gold79 Mines Ltd (AUU.V) (OTCQB:AUSVF) Announces Extension of Closing Date for Private Placement Financing

Any investors who may be interested in gold stocks at the moment could consider taking a look into Gold79 Mines Ltd (AUU.V) (OTCQB:AUSVF). The company is listed on the TSX Venture Exchange and is involved in building up ounces of gold in the Southwestern part of the United States.

At this point, Gold79 Mines holds 100% earn in options to the purchase agreements on three different gold projects. Two of those, the Tip Top Gold Project and the Jefferson Canyon Gold Project, are both in Nevada. The third one is the Gold Chain project located in Arizona. However, that is not all. Gold79 Mines also owns a 32.3% stake in the Greyhound Project in Canada through a joint venture by Agnico Eagle Mines Limited.

The company had come into focus on June 26 when it announced that it had decided to extend the final closing date of its non-brokered private placement that it had announced on June 2, 2023. The revised closing date of the private placement was set for on or prior to July 26, 2023. The company added that all the other terms of the private placement remained unchanged. The private placement is going to raise gross proceeds of $1,000,000 for the company through the offering of 33,333,333 units for the price of $0.03 a unit.

Each unit is made up of one common share in Gold79 Mines and one common share purchase warrant. A warrant would entitle the holder to pick up one common share in the company for the price of $0.05 each for a period of 24 months following the date of closing. On June 9, Gold79 Mines announced that it had completed the first tranche of the private placement through the offering of 7,000,000 units and raised $210,000.