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Vancouver, British Columbia, May 26, 2022 (GLOBE NEWSWIRE) — St. James Gold Corp. (the “Company“) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) announces that, further to its press release of April 29, 2022 announcing a non-brokered private placement offering (the “Offering“) of units of the Company (each, a “Unit“), the Company is reducing the price of the Units from $0.60 to $0.38 per Unit.
Pursuant to the revised terms of the Offering, the Company proposes to issue up to 1,842,106 Units at a price of $0.38 per Unit for aggregate proceeds to the Company of up to $700,000.
Each Unit shall be comprised of one common share in the capital of the Company (each, a “Share“) and one common share purchase warrant of the Company (each, a “Warrant“), with each Warrant entitling the holder thereof to purchase one additional Share, at an exercise price of $0.45 for a period of three (3) years from the closing date of the Offering.
The proceeds raised from the sale of Units under the Offering will be used to advance the Company’s exploration programs and for general corporate matters.
Further to the Company’s news releases of April 8, 2022 and April 29, 2022, Mr. Jay Jiang Yu intends to subscribe for 526,316 Units under the Offering for gross proceeds to the Company of $200,000.
The Company may pay finder’s fees to eligible persons in connection with the Offering. The Offering may…
