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California Gold (TSXV:CGM) Extending the final closing of its non-brokered Private Placement

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The company originally planned to raise gross proceeds of $1.5 million from the placement of 6 million units priced sat $0.25 per unit.

Additional Information:

Company: California Gold Mining Inc.
Website: http://www.caligold.ca
Stock Symbol: TSXV: CGM
Date Published: Mar 29, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch media

California Gold Mining Inc. is extending the final closing of its non-brokered private placement

The company originally planned to raise gross proceeds of $1.5 million from the placement of 6 million units priced sat $0.25 per unit.

Each unit consisted of 1 share and one-half a warrant, with each warrant exercisable at $0.50 for 24 months, subject to an acceleration clause.

The company has the right to increase the size of the offering by an additional 1.2 million units.

The company is focused on developing its 100%-owned Fremont Project in Mariposa County, California.

The project consists of an entirely private and patented land package totaling 3,351 acres of historically producing gold mines, with a state highway, PG&E electric substation and abundant water present on the Property itself.

The property lies within California’s prolific Mother Lode Gold Belt that has produced over 50 million oz of gold historically.

The property has an initial NI 43-101 resource of 879,000 ounces grading 1.6 grams per tonne gold, with a
12,000 metre resource expansion drill program in progress.

The company is headed by President and CEO, Vishal Gupta, a Professional Geologist (P.Geo.) with extensive experience working with numerous junior exploration and development stage mining companies.

Most recently he worked as an equity research analyst covering junior mining companies for Toronto-based financial institutions including Dundee Capital Markets, Fraser Mackenzie and Global Financial where he conducted independent technical due diligence on several exploration and resource development programs
throughout North, Central and South America.

The shares are trading at $0.22.

For more information, please visit the company’s website www.caligold.ca, contact Vishal Gupta, President & CEO, at 647-977-9267 ext 333, or email vgupta@caligold.ca.

I’m Samantha Deutscher for Investmentpitch media