Stone Gold Inc. Announces Closing of Second and Final Tranche of Non-Brokered Private Placement

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Last update: Dec 29, 2021

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TORONTO, Dec. 29, 2021 (GLOBE NEWSWIRE) -- Stone Gold Inc. (TSX-V: STG) ("Stone Gold" or the "Company") is pleased to announce that, in connection with its previously announced non-brokered private placement on December 14, 2021 (the “Offering”), the Company is closing the second and final tranche (“Second Tranche”) of the Offering. The Offering is comprised of the sale of a combination of flow-through units of the Company (“FT Units”) at a price of $0.12 per FT Unit and hard-dollar units of the Company (“HD Units”) at a price $0.10 per HD Unit (the “Offering”). The First tranche (the “First Tranche”) consisted of the sale of 2,384,999 FT Units and 1,450,000 HD Units for aggregate gross proceeds of $431,199.88 and the Second Tranche consisted of the sale of 2,908,333 FT Units and 250,000 HD Units for aggregate gross proceeds of $373,999.96. In total, 5,293,332 FT Units and 1,700,000 HD Units were issued pursuant to the Offering, for aggregate gross proceeds of $805,199.84.