Should Wesdome exercise these warrants in full, its share ownership in Angus would rise to 15%.
The Toronto-headquartered gold producer now joins two other Angus shareholders, Delbrook Capital Advisors and New Gold (TSX: NGD), who each hold 16.4% and 9.9% equity ownerships, respectively.
In total, Angus is expected to raise gross proceeds of approximately C$4.64 million, which will be used for the company’s exploration activities in Ontario.
Angus’ 100% owned Golden Sky project in Wawa, Ontario, is located within the same greenstone belt that hosts the high-grade Eagle River and the Mishi open-pit gold mines of Wesdome.
The 261 sq. km. project is host to the near-surface Dorset gold zone, which contains a historic estimated resource of 40,000 oz. of gold (780,000 tonnes grading 1.4 g/t gold) in the indicated category and 180,000 oz. of gold (4.76 million tonnes grading 1.2 g/t gold) in the inferred category.
“We are excited…
