THUNDER BAY, Ontario – Premier Gold Mines is making a $20-million non-brokered private placement of common shares at a price of $2.35 per share. Approximately $12.5 million worth of shares will be taken up by Goldcorp of Vancouver.
Premier plans to use the proceeds for “general working capital” purposes. The company has two advanced gold exploration projects in Ontario. The Rahill-Bonanza project is adjacent to Goldcorp’s Red Lake Gold Mines at Red Lake, ON. The Trans-Canada project near Geraldton, ON, has four promising deposits, foremost among them the Hardrock deposit. Premier is also exploring the McCoy-Cove gold property in Nevada.
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