Evolving Gold (CSNX:EVG) (OTCB:EVOGF) has closed a non-brokered flow-through private placement, which raised gross proceeds of $300,000.
The company issued 600,000 flow through shares at a price of 50 cents per flow-through share. Commissions of $18,000 (6 per cent) and expenses of $1,000 were paid in connection with the private placement. In accordance with applicable securities legislation, the flow-through shares issued in the private placement are subject to a statutory hold period of four months and one day.
The proceeds from the financing will be used to carry out an exploration program on the recently acquired Lithium Lakes property.
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