NSJ Gold Corp. has closed the first tranche of its financing, raising gross proceeds of $1,577,350 to fund exploration and development across its New Brunswick portfolio.

The financing comprises $1,065,850 raised through the issuance of 3,552,833 flow-through shares, alongside $511,500 secured from 1,705,000 hard dollar shares. All securities issued under this initial tranche are priced at $0.30 per share and carry a four-month hold period. In connection with the placement, the company paid finder fees totaling $54,925, distributing $17,500 to PB Markets Inc., $30,380 to Castlewood Capital Corporation, and $7,045 to Leede Financial Inc.

Net proceeds from the offering will be directed toward exploration and development activities on the Antimony 2.0 Property in New Brunswick, Canada, as well as general working capital. The 35-square-kilometre project features provincial and logging roads and hydro power, and shares the same interbedded Silurian greywacke and argillite geology that characterizes the nearby Lake George Antimony Mine located approximately 15 kilometres to the southwest. The historical mine operated intermittently from the 1860s to 1998 and produced up to 4% of the world's antimony demand from 1970 through 1992.

The latest raise marks a substantial scale-up from previous funding efforts. The company previously closed a first tranche financing at $0.15 per share raising $260,004.30; the current announcement reports closing a larger first tranche raising $1,065,850 in Flow-Thru shares and $511,500 in hard dollar shares at a higher issue price of $0.30 per share. NSJ Gold intends to apply the net proceeds from the first tranche toward ongoing exploration and development activities on its Antimony 2.0 Property in New Brunswick, Canada.

Read the full announcement: NSJ Gold Corp. (NSJ) (9PZ) Announces Closing of First Tranche of Financing for Exploration on Its Antimony 2.0 Property, New Brunswick, Canada