StrikePoint Gold closes C$2 million private placement

StrikePoint Gold Inc. (TSXV:SKP) has successfully closed a non-brokered private placement, raising C$2 million in gross proceeds through the issuance of 10 million units. Each unit comprises one common share and one-half of a common share purchase warrant, exercisable at C$0.30 for three years from the closing date. The funds raised will be allocated towards the acquisition of the Northumberland Gold Project, a concurrent bought deal financing, a share consolidation, and general working capital.

Additionally, a portion of the proceeds will be used to repay C$500,000 in non-interest bearing promissory notes held by certain individuals. The company's directors and officers subscribed for 2,081,750 units, constituting C$416,350 in gross proceeds. This private placement is exempt from formal valuation and minority shareholder approval requirements, as the fair market value of the transactions does not exceed 25% of the company's market capitalization.

The securities issued are subject to a four-month and one-day hold period, and the closing remains subject to final approval from the TSX Venture Exchange.

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