Golden Shield Resources (CSE:GSRI, OTCQB:GSRFF) said on Thursday it plans to raise up to C$975,000 through a non-brokered private placement for exploration at its Guyana gold property.
The offering will consist of up to 6.5 million common shares priced at C$0.15 each, the company said in a statement.
Proceeds from the financing will be used to fund exploration at the company’s Marudi Mountain Property and for general working capital.
Golden Shield controls the 5,457-hectare Marudi Mountain property, located in the Rupununi District of southwestern Guyana.