Saskatoon, Sask.-based Shore Gold Fund (ASE) has completed a private placement of 1.4 million shares at 25 cents each and issued an additional 483,549 shares at the same price.
Proceeds will be used to increase working capital and pay off debt. Shore has almost 10 million shares issued and is active in exploration. Its main holdings are a 15% stake in the Jojay property near LaRonge, Sask. (where reserves total 325,900 tons averaging 0.22 oz. gold per ton), and an option to earn a 70% interest in the Grassy Lake property near Flin Flon, Man.
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