Medgold Resources Corp. announced a non-brokered private placement of 21,600,000 subscription receipts at a price of CAD 0.10 per subscription receipt for gross proceeds of CAD 2,160,000 on January 19, 2024. Each subscription receipt converted into one unit.

Each unit comprises one share and one warrant in the company. Each warrant is exercisable at a price of CAD 0.20 for a period of two years. The company paid 7% cash finder?s fees in the aggregate amount of CAD 41,300 to certain finders and also having the same terms as the warrants issued pursuant to the Private Placement issued to the finders an aggregate of 413,000 share purchase warrants.

The Finders? Warrants entitles the holder thereof to purchase one Resulting Issuer Share at a price of CAD 0.20 per share for a period of 12 months. The net proceeds of financing is CAD 2,118,700.

As a result of the Transaction, the Company has 63,313,064 Resulting Issuer Shares outstanding on a non-diluted basis and 90,247,214 Resulting Issuer Shares outstanding on a fully diluted basis. The company raised CAD 99,761.950 pursuant to Regulation D in the transaction from single investor.