TomaGold closes $348,075 private placement and plans new offering

TomaGold Corporation (TSXV: LOT; OTCPK: TOGOF) completed a flow-through private placement raising $348,075.45 through the issuance of 5,355,007 common shares at $0.065 per share, according to a company statement.

The Montreal-based mining company paid $9,617.27 in finder's fees and issued 96,173 finder's compensation warrants. Each warrant allows the purchase of one common share at $0.10 for 24 months from issuance.

TomaGold plans to use proceeds for exploration expenses qualifying as Canadian exploration expenses and flow-through critical mineral mining expenditures under Canada's Income Tax Act. All securities carry a four-month statutory hold period and require final TSX Venture Exchange approval.

The company announced plans for an additional private placement targeting up to $150,000 through the sale of 2,727,273 units at $0.055 each. Each unit includes one common share and half of a share purchase warrant exercisable at $0.10 for 24 months. These proceeds will fund general corporate and working capital purposes.

TomaGold granted 9,750,000 stock options to directors, officers and consultants at $0.065 per share, exercisable for five years under the company's stock option plan.

The mining company focuses on precious and base metal projects in Quebec and Ontario, with core assets in the Chibougamau Mining Camp in northern Quebec. TomaGold owns the Obalski gold-copper-silver project and holds options on 12 additional properties. The company maintains a 24.5% joint venture interest in the Baird gold property near Ontario's Red Lake Mining Camp and holds lithium and rare earth element projects in the James Bay region.

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