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Advance Gold (TSXV:AAX) has announced a non-brokered private placement

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The company is looking to raise gross proceeds of up to $500,000 from the placement of up to 5 million units priced at $0.10 per unit. The units consist of 1 share and 1 warrant, with each warrant exercisable at $0.12 for 24 months, subject to an acceleration clause.

Additional Information:

Company: Advance Gold
Website: http://www.AdvanceGold.ca
Stock Symbol: TSXV: AAX
Date Published: Jul 22, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Advance Gold has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $500,000 from the placement of up to 5 million units priced at $0.10 per unit.

The units consist of 1 share and 1 warrant, with each warrant exercisable at $0.12 for 24 months, subject to an acceleration clause.

The shares are currently trading at $0.125.

The proceeds will be used to advance the Tabasquena project in Mexico and for general corporate purposes.

The company acquired a 100% interest in the Tabasquena Silver Mine in 2017, near the Milagros silver mine, and the Venaditas project in April, 2018, both in Zacatecas state, Mexico.

The Tabasquena project has road access and power to the claims, a 100-metre underground shaft and underground workings, plus it is a fully permitted mine.

The area has a number of active projects including Teck Cominco’s San Nicholas Mine 11 kilometers to the east.
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The first ten drill holes found widespread gold and silver mineralization in epithermal veins, with the IP geophysical survey revealing a large continuous chargeability anomaly below the veins.

In addition, Advance Gold holds a 12.84% interest on strategic claims in the Liranda Corridor in Kenya, East Africa.

The remaining 87.16% of the Kakamega project is held by Barrick Gold Corporation.

For more information, please visit the company’s website at www.AdvanceGold.ca, contact Allan Barry Laboucan, President & CEO, at 604-505-4753 or by email at allan@AdvanceGold.ca

I’m Megan Edwards for Investmentpitch Media