Canadian gold explorer Blue Jay raises $14m for exploration
Canadian gold exploration company Blue Jay Gold Corporation has successfully raised gross proceeds of $14.7-million following a “best efforts” brokered private placement led by Beacon Securities.
Effective May 28, all 18.7-million outstanding subscription receipts were automatically converted into underlying shares and underlying warrants.
Each of the 9.3-million warrants entitles the holder to purchase one additional common share of the company at a price of $1.20 apiece for 24 months.
Net proceeds received by Blue Jay were $13.9-million, with the company now having 47-million common shares issued and outstanding.
Blue Jay is focused on growing and discovering resources within established gold-producing regions in Canada. The company’s flagship asset is the 100%-owned Steller gold project in southern Yukon, an infrastructure-supported, past-producing mine with significant exploration upside and clear near-term catalysts.
Blue Jay has also built a portfolio of projects in Ontario.
With strategically located assets and a leadership team experienced in geology and capital markets, Blue Jay will advance disciplined, modern exploration programmes focused on target definition, resource growth, and new discoveries in known gold-mineralised regions.
