Sanu Gold Corporation’s Private Placement: Montage Gold and Lundin Family’s Participation
Vancouver, BC – Sanu Gold Corporation (CSE: SANU) (OTCQB: SNGCF) (“Sanu Gold” or the “Company”) recently announced a non-brokered private placement (the “Placement”) to raise up to C$10,000,000 through the issuance of up to 35,714,286 common shares (each, a “Common Share”) at a price of C$0.28 per Common Share. The Company is pleased to announce the participation of Montage Gold Corp. (TSXV: MAU) (OTCQX: MAUTF) (“Montage Gold”) and the Lundin Family and associates (“Lundin Family”) in the Placement.
Placement Details
Montage Gold and the Lundin Family have indicated their intention to maintain their respective pro rata equity interests in Sanu Gold following the completion of the Placement. This means that Montage Gold is expected to acquire an additional 11,428,571 Common Shares, representing approximately 19.9% of the issued and outstanding Common Shares, while the Lundin Family will acquire an additional 14,285,715 Common Shares, representing approximately 10% of the issued and outstanding Common Shares.
Impact on Sanu Gold
The participation of Montage Gold and the Lundin Family in the Placement is a significant development for Sanu Gold. Both parties have a proven track record in the mining industry, and their continued support is a strong endorsement of Sanu Gold’s potential. The injection of additional funds into the Company will enable Sanu Gold to advance its exploration projects more efficiently and effectively, potentially leading to discoveries and increased shareholder value.
Impact on Investors
For existing Sanu Gold shareholders, the Placement and the participation of Montage Gold and the Lundin Family could be seen as a positive sign. The continued support of these strategic investors could potentially lead to increased investor confidence and a higher stock price. Additionally, the progression of Sanu Gold’s exploration projects could result in new discoveries and increased value for all shareholders.
Impact on the Mining Industry
The mining industry as a whole could also benefit from Sanu Gold’s Placement and the continued involvement of Montage Gold and the Lundin Family. The success of Sanu Gold’s exploration projects could lead to new discoveries and increased exploration activity in the region. Additionally, the involvement of strategic investors like Montage Gold and the Lundin Family can help attract further investment and interest to the sector.
Conclusion
Sanu Gold Corporation’s non-brokered private placement and the participation of Montage Gold and the Lundin Family are significant developments for the Company and the mining industry as a whole. The injection of additional funds and the continued support of strategic investors could lead to increased investor confidence, new discoveries, and increased value for all shareholders. As the exploration projects progress, it is expected that the impact of these developments will become more apparent.
- Sanu Gold Corporation announces non-brokered private placement to raise up to C$10,000,000
- Montage Gold and Lundin Family indicate intention to maintain respective pro rata equity interests in the Company
- Montage Gold to acquire approximately 19.9% of issued and outstanding Common Shares
- Lundin Family to acquire approximately 10% of issued and outstanding Common Shares
- Additional funds to enable more efficient exploration and potential discoveries
- Continued support of strategic investors to increase investor confidence
- Potential for new discoveries and increased value for all shareholders
- Impact on the mining industry through increased exploration activity and investment
