Newcore Gold (NCAU.V, NCAUF), a gold exploration and development company, Monday announced that the company has received total proceeds of approximately $3.8 million from the exercise of 9.56 million shares, which had a share price of $0.40 and were issued on September 26, 2024.
Luke Alexander, President CEO, stated Management and Board of Directors also exercised Warrants they held and continue to be in align with the shareholders through approximately 15 percent equity ownership.
The recent funding, along with existing cash, will support Newcore's continued advancement and de-risking of its Enchi Gold Project in Ghana. Additionally, it plans to execute a Pre-Feasibility Study in the first half of 2026.
Moreover, the company has issued 20.42 million common share purchase warrants at $0.50 exercise price that expires on February 27, 2026. If fully owned, this set of warrants would provide additional funding of approximately $10.2 million to continue to support drilling and development at Enchi.
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