TomaGold enters private placement for proceeds of $2.25M

* TomaGold (LOT:CA [https://seekingalpha.com/symbol/LOT:CA]) announced [https://seekingalpha.com/pr/20299482-tomagold-announces-proposed-private-placement]on Friday that it intends to complete a non-brokered private placement for gross proceeds of up to $2.25M.
* The offering will consist of up to 30M common shares of the company issued on a “flow-through” basis at a price of $0.05 per FT share and up to 18.75M units at a price of $0.04 per unit.
* Each unit will consist of one common share and one-half of one warrant, each entitling the holder to purchase one additional share at $0.08 for a period of 24 months from the date of issuance.
* The net proceeds from the sale of the units will be mainly used by the company for general and corporate working capital purposes.
* The company intends to use the gross proceeds from the sale of the FT shares to incur exploration expenses.

MORE ON TOMAGOLD CORPORATION

* Seeking Alpha’s Quant Rating on TomaGold Corporation [https://seekingalpha.com/symbol/LOT:CA/ratings/quant-ratings]
* Financial information for TomaGold Corporation [https://seekingalpha.com/symbol/LOT:CA/income-statement]