Nighthawk Gold Corp (OTCMKTS:MIMZF) was down 25% in a month. The company has announced the finalization of a non-private brokered agreement of CD$5.63 million in gross proceeds. The offering comprised the issuance of 5.63 million units at CD$1 per FT Unit.
Trading Data
On Friday, MIMZF stock fell 0.07% to $0.6150 with more than 2.7K shares traded, compared to its average volume of 12.79k shares. The stock has moved within a range of $0.6150 – 0.6200 after opening trading at $0.62.
Closes C$5.63 Million Private Placement of Flow-Through Units
Notably, each unit comprises a common share of Nighthawk qualifying as “flow-through shares” within the Canadian Income Tax Act and one-half of one non-flow-through common share warrant. Each warrant will entitle the holder to acquire a company’s common share at $1.5 per Warrant Share for three years, effective December 9, 2021.
CEO KeyvanSalehi said that the company completed drilling of 72,325 meters this year, focusing on near-surface mineralization delineation near Colomac. In 2022 the company plans to have a busy year in which it expects to expand its resource base and the company targets completion of drilling of up to 100,00 meters of drilling. The offering proceeds offer required capital to carry the first phase of the exploration program. So, MIMZF is worth watching.
Key Quote
Keyvan Salehi, President and CEO commented, “We successfully completed 72,325 metres of drilling this year focused on the delineation of near-surface mineralization proximal to Colomac. Next year we anticipate another busy and exciting year as we look to further increase the global resource base, where we anticipate completing upwards of 100,000 metres of drilling. This financing provides us with the necessary capital to carry out the first part our 2022 exploration program, which is expected to commence towards the end of March 2022.
Technical Data
MIMZF stock is trading below the 20-Day and 50-Day Moving averages of $0.67 and $0.71 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.81. The stock is down 26% in the past month.
