Murgold offering raises $690,000

Recently listed for trading on the Toronto Stock Exchange (symbol mgd), Murgold Resources reports it has completed an offering yielding the company $690,000.

Murgold, which also trades on the Vancouver Stock Exchange and on nasdaq in the U.S., offered 841,464 units at 82 cents per unit (comprising one flow-through share and one-half of one series C warrant). The one-half warrants are not separable from the flow-through shares until Feb 1; the warrants will be listed on the tse at that time.

Proceeds of the sale will be used primarily to fund the company’s 40% of the exploration costs associated with a 63-claim gold property in Chester Twp. in northern Ontario, Murgold says. Earning a 60% interest in the property is Murgold’s joint-venture partner, Chesbar Resources.

Proceeds of the sale not used for the above project will help fund ongoing exploration work on 231 adjoining claims which are wholly owned by Murgold.