California Gold Mining Inc. (CNSX:CGM) announced a private placement of up to 4,687,500 common shares at a price of CAD 0.16 per common share for gross proceeds of up to CAD 750,000 on May 21, 2020. All securities to be issued will be subject to a hold period of four months, expiring on September 22, 2020. On the same date, company issued 1,718,750 common shares for gross proceeds of CAD 275,000 in its first tranche.