Sky Gold Corp. Closes First Tranche of Financing

Sky Gold Corp. (TSXV:SKYG) (US:SRKZF) announced the closing of the first tranche of its non-brokered private placement, raising $330,000. The company issued 6,600,000 non-flow through units (NFT Units) at $0.05 per unit. Each NFT Unit includes one common share and one transferable share purchase warrant, allowing the purchase of an additional share at $0.07 within 36 months.

The company paid finders' fees of $22,000 and issued 440,000 non-transferable share purchase warrants to Canaccord Genuity Corp. and Sherbrooke Street Capital Inc., each exercisable at $0.07 for 12 months. A senior officer and a director subscribed for 700,000 units, classified as a "related party transaction." Securities issued are subject to a hold period until October 20, 2024.

The funds will be used for exploration and administrative activities. The financing is conditionally approved by the TSX Venture Exchange, pending final approval.