Medallion Resources (TSE:GAB) has released an update.
GABO Mining Ltd, formerly known as Medallion Resources Ltd, has announced an expansion of its private placement from $1 million to $2 million, with the first tranche closing at $1,103,000. The offering includes units priced at $0.10, each comprising one common share and a warrant allowing the purchase of an additional share at $0.15 within three years. The first tranche saw participation from company directors, and a second tranche is expected to follow pending regulatory acceptance.
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