Boreal Gold Ltd. has increased its non-brokered private placement to raise aggregate gross proceeds of up to $2,049,000, driven by strong investor demand.

The expanded financing comprises units priced at $0.20 each and flow-through shares priced at $0.30 per share. Each unit consists of one Class A share and one-half of a share purchase warrant, with whole warrants exercisable into non-flow-through shares at an exercise price of $0.30 for two years following the closing date.

Proceeds raised from the flow-through shares are earmarked for the exploration and advancement of the company’s North Star, Fay Lake, and Melgurd Lake properties. Funds collected from the ordinary units will support general corporate purposes.

As field work continues, Boreal Gold awaits assay results from its 1,000-metre drill program and trench sampling at the Fay Lake property, with samples currently at SRC Laboratories in Saskatoon.

Insiders are expected to participate in the offering, constituting a related party transaction under applicable Canadian securities laws. Juno International Corporation and its President and Chief Executive Officer, Robert Cudney, intend to acquire up to 1,000,000 units for a purchase price of up to $200,000.

All securities issued under the offering will be subject to a four-month and one-day statutory hold period from their issuance date. The financing may also involve finder's fees or finder's warrants payable on a portion of the placement, subject to Canadian Securities Exchange policies and applicable securities legislation.

Read the full announcement: Boreal Gold Increases Non-Brokered Private Placement to $2,049,000.00