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Manitou Gold Completes $2.317 Million Private Placement


On September 30, 2020, Manitou Gold Inc. closed a non-brokered private placement of 19,495,184 units at a price of $0.06 per unit and 12,747,777 flow-through common shares at a price of $0.09 per flow-through share for aggregate gross proceeds of approximately $2.317 million.

Each unit consists of one common share and one share purchase warrant of Manitou Gold. Each warrant entitles the holder to acquire one additional common share of Manitou Gold at an exercise price of $0.12 for a period of 24 months following the closing date.

Cassels acted for Manitou Gold with a deal team that included Jay Goldman, Lindsay Clements, Florence Lau and Tiffany Chiu (Securities and Mining).

RELATED EXPERTISE: Securities | Mining