Forge Resources Corp. Completes “Flow-Through” Financing

Forge Resources Corp. (CSE:FRG) completed a second tranche of its previously-announced private placement, pursuant to which it issued “flow-through” units for gross proceeds of $2,656,500. Together with the first tranche, more details of which can be found here, the offering was completed for aggregate gross proceeds of $6,000,000.

The gross proceeds from the sale of the “flow-through” units will be used to incur exploration expenses that qualify as “Canadian exploration expenses” and “flow-through mining expenditures” for purposes of the mineral exploration tax credit, in each case as defined in the Income Tax Act (Canada).

The offering was conducted by Ventum Financial Corp., as lead agent and sole bookrunner.

Forge Resources is a Canadian-listed junior exploration company focused on exploring and advancing the Alotta project, a prospective porphyry copper-gold-molybdenum project consisting of 230 mineral claims that cover 4,723 hectares, located 50 km south-east of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt in the Yukon Territory of Canada. In addition, the Company holds an 80% interest in Aion Mining Corp., a company that is developing the fully permitted La Estrella coal project in Santander, Colombia. The project contains eight known seams of metallurgical and thermal coal.

Wildeboer Dellelce LLP acted for Ventum Financial in connection with the offering with a team that consisted of Michael Rennie, Natalie Tershakowec, Sepehr Yousef Pour and Karla Ledesma (corporate and securities / mining, energy and natural resources) and Marija Tasevska (Tax).