Augustine Ventures announced June 21 that it has entered into a financing arrangement with IBK Capital to raise up to $600,000 in financing for its Wawa Gold project.
The first tranche of private placement financing will close on June 27 or a mutually agreed upon date between the two parties.
The proceeds from the financing will be used for exploration purposes at Augustine's Wawa Gold Project and for working capital.
Toronto-based Augustine Ventures Inc. has an option to earn up to a 75 per cent interest on the Wawa Gold Project which encompasses 2,345 hectares southeast of Wawa.
The property contains a gold resource of 1.1 million ounces at 1.5 grams per tonne and has a history pf past production along with a number of untested gold occurrences.
