GoldInxs Mining (TSX-V:INXS) is seeking up to C$1.15 million ($1.15 million) through a private placement to support exploration at its Fishpot Project in central British Columbia, Canada.
The company plans to direct net proceeds towards drilling, sampling, and other exploration work, alongside general working capital.
The offering comprises ordinary units priced at C$0.11 and Critical Mineral Exploration Tax Credit flow-through units at C$0.13. Each contains one common share and one warrant, with the shares in the latter qualifying as flow-through shares.
Warrants are exercisable at C$0.25 for 24 months after closing. GoldInxs may shorten their remaining life if its shares close at or above C$0.50 for 10 consecutive trading days. Holders would then have 30 days from notification by news release to exercise them.
Closing is expected around 30 September, subject to regulatory approvals, including TSX Venture Exchange approval. Securities will carry a four-month hold period.
GoldInxs may pay eligible finders cash fees of up to 7% of proceeds raised from introduced subscribers, plus warrants representing up to 7% of the units they place. Finder warrants would be exercisable at C$0.11 or C$0.13, depending on the unit type, for 24 months.
The company says it expects related-party participation to qualify for exemptions from formal valuation and minority shareholder approval requirements.
Funding follows drill target refinement
The proposed raise follows GoldInxs’ identification of six priority targets ahead of a planned 2,000m maiden drilling program at Fishpot, as reported by Mining.com.au.
A 53.4 line-kilometre induced polarisation survey identified anomalies overlapping geological, alteration, and geochemical features. Drilling permits are in place, with pad locations and hole orientations being finalised.
Fishpot has seen only two historical drill holes totalling 378m, with no drilling since 1995.
Separately, GoldInxs has engaged Outside The Box Capital for investor communications and social media content distribution from 28 September to 28 December.
The three-month agreement carries a C$50,000 cash fee plus taxes, requires exchange acceptance, and includes no securities-based compensation.
GoldInxs Mining is a British Columbia-based explorer focused on gold and copper, with Fishpot as its flagship project.
Write to France Pinzon at Mining.com.au
Main image: GoldInxs Mining
