Canadian Gold Explorer Blue Jay Completes C$14.7 Million Private Placement

en.Wedoany.com Reported - Canadian gold exploration company Blue Jay Gold Corporation has completed a "best efforts" brokered private placement led by Beacon Securities, with total gross proceeds of C$14.7 million.

Since May 28, all 18.7 million outstanding subscription receipts have been 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 C$1.20 per share within 24 months.

Blue Jay's net proceeds from this placement amount to C$13.9 million. Currently, the company has a total of 47 million common shares issued and outstanding.

Blue Jay focuses on expanding and discovering resources in established gold-producing regions of Canada. The company's flagship asset is the wholly-owned Steller Gold Project in southern Yukon, a previously mined mine with well-developed infrastructure, offering exploration potential and clear near-term catalysts.

Additionally, Blue Jay has built a portfolio of projects in Ontario. With strategically positioned assets and an experienced leadership team in geology and capital markets, the company plans to advance a disciplined, modern exploration program focused on target definition, resource growth, and new discoveries within known gold mineralized zones.

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