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Lode Gold Resources Closes C$8 Million First Tranche of Upsized Private Placement Financing

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Lode Gold Resources (LOD.V) on Wednesday said it is upsizing a private placement financing by C$2 million to C$9 million and closed the first tranche, raising C$8 million.

The second and final tranche will close on July 31, a statement added.

The company placed 29.85-million units priced at $0.27 apiece in the initial trance. Each unit is made up of share and a three-year warrant to buy a share for $0.45.

Proceeds will be used to advance technical work at the Fremont Gold Mine in California.

Lode Gold shares were last seen up C$0.02 to C$0.31 on the TSX Venture Exchange.

Price: $0.31, Change: $+0.02, Percent Change: +5.08%

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