Mako Gold will raise $2.0 million through a placement at 1 cent per share to fund its gold and battery metal portfolio.
Mako has entered an exclusivity agreement with Goldridge Resources to explore a potential accretive transaction for a district-scale gold play.
The placement, comprising two tranches and a potential share purchase plan, will strengthen Mako's financial position for exploration and due diligence on Goldridge.
The placement is expected to close on Nov. 23 and, combined with existing cash reserves, will fund exploration, due diligence, and general working capital purposes.