Thursday, December 09, 2021
FenixOro Gold (FDVXF)
Private Placement Provides Financial Flexibility to Accelerate Drilling Program
FenixOro Gold Corp is a Toronto based company acquiring and exploring high grade gold projects in Colombia. The company’s flagship Abriaqui Project is the nearest exploration project to Continental Gold’s Buritica Mine.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
First tranche of financing closed. FenixOro closed the first tranche of its previously announced non-brokered private placement. The company has issued a total of 7,725,531 units at a subscription price of $0.31 per unit for gross proceeds of $2,394,914.61 in the first tranche. Each unit consists of one common share of the company and one common share purchase warrant, with each warrant being exercisable for one additional common share at an exercise price of $0.34 for a period of two years from their date of issuance. During the next few weeks, FenixOro expects to close a second tranche of the private placement bringing aggregate gross proceeds up to C$3,000,000.
Enhanced flexibility to accelerate drilling. Net proceeds of the private placement will be used to accelerate the company’s Phase 2 drilling program at the Abriaqui project by adding one or two drill rigs and identifying and drilling new discovery targets, particularly on the highly prospective southeast license area …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
