Canadian Mining Journal


GOLD: Great Bear raises $11M in flow-through shares

Visible gold in core recovered from the high grade Dixie Lake Hinge zone. (Image: Great Bear Resources)

ONTARIO – Vancouver-based Great Bear Resources has successfully closed a deal worth $10.9 million with which to continue exploration at its gold projects in this province.

A consortium led by Cormark Securities and including Canaccord Genuity Corp. subscribe to 2.0 million flow-through shares priced at $5.45 each for aggregate proceeds of $10.9 million. The shares are subject to a four-month and one day hold period that expires on November 4, 2019. The underwriters will receive a commission of 6% on the gross amount raised.

Great Bear is currently in the midst of a 90,000-metres drilling program at its 100% owned Dixie Lake gold project located a 15-minute drive from downtown Red Lake.

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