GoldON Resources Ltd: GoldON Resources Corporate Update
Victoria, British Columbia--(Newsfile Corp. - February 16, 2021) -
GoldON Resources Ltd. (TSXV: GLD) ("GoldON" or the "Company") is a Canadian gold explorer focused on discovery through the exploration of overlooked and underexplored properties, and is pleased to provide an overview of the Company.
Capital Structure:
GoldON has no debt other than current trade payables and has raised approximately $2,856,000 over the last five months at an average price of $0.73 per share, with the latest financing closed with Mr. Eric Sprott. Share capitalization includes 22,318,292 common shares issued, 4,882,633 common share purchase warrants exercisable at an average price of $0.77, 2,616,000 incentive stock options exercisable at an average price of $0.41, and 29,816,925 common shares outstanding on a fully diluted basis assuming all warrants and options are exercised. Insider ownership is approximately fifteen percent of shares issued and GoldON's President Michael Romanik is the largest individual shareholder. The current market cap based on shares issued is ~$11,000,000.