Goldrich Mining Engages Castle Placement, LLC for $20 Million Financing Package

Goldrich Mining Company (OTCMKTS:GRMC) recently disclosed in an 8-K filing with the Securities and Exchange Commission that it has entered into an agreement with Castle Placement, LLC to initiate a comprehensive financing package with the aim of raising up to $20 million. The company plans to utilize the funds acquired through this financing to reinitiate mining operations at its Little Squaw Creek placer mine situated in Alaska.

The financing package put forth by Goldrich Mining includes a $10 million public offering that involves up to 200 million common shares of the company priced at $0.05 per share, alongside $10 million in forward gold sales set at a fixed rate of $1,200 per ounce. These financial arrangements are a pivotal aspect of the company’s strategy to resume mining activities at the Alaskan site.

According to information contained in the filing, the net proceeds generated from the financing are earmarked for the purpose of restarting operations at the Little Squaw Creek placer mine, based on the outcomes of an independent Initial Assessment Report by Global Resources Engineering. The company is aiming to recommence its mining endeavors at the location in 2025, subject to the successful completion of the financing package.

Goldrich Mining’s press release, which accompanies the filing, outlines the specifics of the financing terms and the anticipated implications for the company’s operational activities. It underscores the company’s commitment to relaunching its mining operations and highlights the significance of these financial arrangements in facilitating this objective.

Investors and stakeholders are advised that the information detailed in the 8-K filing, along with the attached exhibit, should not be considered as filed for regulatory purposes, as specified in the General Instruction B.2 of Form 8-K. The terms and conditions of the Financing Package, as well as other pertinent details, have been provided within the filing for transparency and disclosure purposes.

As Goldrich Mining endeavors to leverage this strategic infusion of capital to propel its operations forward, the focus remains on the company’s goal of advancing its activities in the Chandalar gold district in Alaska, USA. Through these financial endeavors, the company aims to bolster its position in the resource sector and maximize the potential of its significant gold assets.

The content of the disclosure in this release about Goldrich Mining’s plans and projections involves forward-looking statements, as delineated under the Private Securities Litigation Reform Act of 1995. These statements are based on certain assumptions and management’s evaluations concerning future outcomes and capital utilization. Investors are urged to review the risks and uncertainties associated with such forward-looking statements as stipulated in the company’s SEC filings.

By Editor

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Goldrich Mining’s 8K filing here.

Goldrich Mining Company Profile

Goldrich Mining Company, an exploration stage company, acquires and explores for mineral properties in the Americas. The company primarily explores for gold and associated base, and precious metals. Its flagship property is the Chandalar property consisting of 426.5 acres as twenty-one federal lode claims, one patented federal placer claim, and one patented federal mill site and 22,432 acres of unpatented State of Alaska mining claims.