Another junior miner has become attractive to investors, and with the proceeds from its equity placement, intends to take on the world.
Grand Junction, Colorado-based Bullfrog Gold Corp (OTC:BFGC) Tuesday announce the final closing of a non-brokered $1.127-million equity private placement. The subscriptions were priced at $0.05 per unit, which consisted of one share of the Company’s common stock and a two-year warrant to purchase a one-half share at a price of $0.10 per share. The initial closing of $835,000 was announced early last month.
Bullfrog says proceeds will be used for a variety of purposes; pursuing a listing on a Canadian stock exchange; securing Nevada and Federal exploration permits; metallurgical testing; exploration programs and developing greater exposure of its Bullfrog Project to Canadian and European markets.
The Bullfrog Project is located 125 miles (about 200 kilometres) NW of Las Vegas, and consists of 5,250 acres of patented and unpatented mining claims that have an established mineral estimate
The company’s stock took off like a Saturn rocket just before noon EDT on Tuesday, gaining 7.6%, to 10.2 cents, on volume of 150,000 shares.
