March 7, 2023
NorthIsle Copper and Gold Inc. (TSXV:NCX, BUY, C$1.25 target, Taylor Combaluzier) has closed its previously announced non-brokered private placement of 12.14M common shares at C$0.165/sh for gross proceeds of ~C$2M. The net proceeds are expected to be used for development and exploration expenditures for the North Island Cu-Au project, as well as for general corporate purposes. As previously reported, three of the company’s cornerstone investors, Mr. Donald K. Johnson, Mr. Michael Gentile, and Mr. Dale Corman participated in the private placement. All three individuals have increased their positions in the company – Donald K. Johnson to 9.97%, Michael Gentile to 9.98%, and Dale Corman to 11.64% on a partially diluted basis. In addition to those three shareholders, Mr. Sam Lee (CEO), participated in the private placement. The company remains fully funded for further exploration plans with >C$8M in working capital at the end of 2022, pro forma this financing. Read more
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NorthIsle Copper and Gold Inc. – TSXV:NCX – 1,2,3
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