SEFG has entered into definitive agreements with institutional investors to purchase $10 million of securities in a registered direct offering. After deducting placement agent fees and other offering expenses, Santa Fe Gold expects to receive net proceeds of $9,375,000.
Dr. W. Pierce Carson, CEO, said, “We are delighted to have completed this financing, which will enable us to accelerate our strategic agenda for precious metals acquisition and development. The financing demonstrates confidence from institutional investors in the company’s assets, its management and its future.”
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About Santa Fe Gold:
Santa Fe is a U.S.-based mining and exploration enterprise focused on acquiring and developing gold, silver, copper and industrial mineral properties. Santa Fe controls: (i) the Summit mine and Banner mill in southwestern New Mexico; (ii) the Ortiz gold property in north-central New Mexico (estimated to contain two million ounces of gold); (iii) the Pilar gold exploration project in Sonora, Mexico; (iv) the Black Canyon mica mine and processing facility near Phoenix, Arizona; and (v) a large resource of micaceous iron oxide (MIO) in western Arizona. Santa Fe intends to build a portfolio of high-quality, diversified mineral assets with an emphasis on precious metals.
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