Chimata Gold is a Canadian mineral exploration company that is focused on the acquisition and exploration of properties of merit with a focus on gold and other precious metals.
Currently, Chimata is preparing an initial exploration plan for its Maggie Gold Property, located in British Columbia, and is arranging financing for exploration expenditures on existing mining properties, due diligence on potential acquisition targets, reserve for potential asset acquisition investigations and for general working capital purposes.
The company recently concluded a share consolidation on the basis of one post consolidation share for each 5 pre-consolidation shares and commenced trading July 31, 2017 with 10,329,800 shares issued and outstanding.
On August 1, 2017 Chimata announced the arrangement of a non-brokered private placement of up to 15 million units at a price of $0.055 per unit, for proceeds of up to $825,000 if fully subscribed. Each unit is comprised of one common share in the capital of the company and one common share purchase warrant entitling its holder to purchase an additional common share at a price of 5.5 cents per common share for a period of 36 months from the closing date of the offering.