GoldInxs Mining (TSX-V:INXS) is upsizing its previously arranged private placement to C$1.5 million ($1.52 million) after closing a second tranche.
Under this tranche, GoldInxs raised C$602,783 through the issuance of approximately 3.93 million flow-through (FT) units at C$0.13 each and 831,213 ordinary units at C$0.11 each.
This brought the total raised through two tranches to C$1.25 million, which exceeded the C$1.15 million that the company had initially targeted.
Due to the “additional investor demand”, GoldInxs says it will now increase the offering to C$1.5 million.
As disclosed earlier this month, the funds will be used for exploration work and other operations at its flagship Fishpot Project in British Columbia, Canada, as well as other expenses.
Board changes
In addition, GoldInxs has announced that its shareholders have elected Deepak Malhotra and Zoran Pudar as new directors of the company at the recently held annual meeting.
Both Malhotra and Pudar have decades of experience in the mining sector, including involvement in international development projects. Pudar recently served as exploration manager of Mako Mining (TSX-V:MKO).
They replace Darcy Vis and Stephen Soock, neither of whom stood for re-election.
Vis will retain his role as VP Exploration, while Soock will depart the company.
Following the annual meeting, GoldInxs’ board appointed Gordana Slepcev as an additional director. She was previously COO, president, and CEO of Lomiko Metals, now part of Global Battery Materials.
GoldInxs Mining is an early-stage mineral exploration company based in British Columbia, dedicated to identifying, acquiring, and advancing gold and copper assets.
Write to Jackson Chen at Mining.com.au
Main image: GoldInxs Mining
