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The latest update is out from Magnum Goldcorp ( (TSE:MGI) ).
Magnum Goldcorp Inc. has successfully closed a non-brokered private placement, raising $150,000 through the issuance of 3,000,000 units at $0.05 per unit. Each unit includes one common share and one share purchase warrant, allowing the purchase of an additional share at $0.20 within two years. The funds will be used for general working capital, and the transaction involved insider participation, qualifying as a related party transaction under certain regulatory exemptions. This move is expected to bolster the company’s financial position and support its operational activities.
More about Magnum Goldcorp
Magnum Goldcorp Inc. operates in the mining industry, focusing on the exploration and development of mineral properties. The company is primarily engaged in the production and sale of gold, with a market focus on expanding its resource base and enhancing shareholder value.
Average Trading Volume: 13,045
Technical Sentiment Signal: Sell
Current Market Cap: C$631.1K
See more data about MGI stock on TipRanks’ Stock Analysis page.