Allegiant owns 100% of the district-scale Eastside gold-silver project in Nevada. Credit: Allegiant Gold
Allegiant Gold (TSXV: AUAU) has once again increased the size of its recently arranged private placement to fund the company’s exploration plans in Nevada.
In a press release Friday, the gold junior said it will now issue up to 21 million units at C$0.50 each. Each unit comprises one common share and one-half of a warrant that is exercisable at C$0.70 per share for 18 months.
This represents Allegiant’s second upsizing since its initial financing announcement of C$7 million on July 29. Shortly after, it increased the financing size to C$8.5 million, and has now raised it by 50% to C$10.5 million.
Shares of Allegiant Gold soared on the news, trading at a new 52-week high of C$0.85 with a market capitalization of C$58.1 million ($42 million). The stock had traded as low as $0.20 this year.
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