Fairchild Gold announces non-brokered private placement for up to C$1.2M

* Fairchild Gold (TSXV:FAIR:CA [https://seekingalpha.com/symbol/FAIR:CA]) on Wednesday said it will complete a non-brokered private placement for gross proceeds of up to C$1.2M from the sale of up to 20M units of the company at a price of C$0.06 per unit.
* Each unit will consist of one common share of the company and one-half warrant.
* Each whole warrant shall entitle the holder to purchase one common share of the company at a price of C$0.10 at any time on or before that date which is 3 years after the closing date of the offering.
* The offering is scheduled to close in one or more tranches on or about August 25.
* The company expects to use the net proceeds of the offering over the coming 12 months for project expenditures at the company's Copper Chief Project in Nevada, USA as well as general working capital purposes.
* Source: Press Release [https://seekingalpha.com/pr/20200283-fairchild-gold-announces-non-brokered-private-placement-for-up-to-c-1_2-million]

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* Financial information for Fairchild Gold Corp. [https://seekingalpha.com/symbol/FAIR:CA/income-statement]