Tucano Equity Raise & Exploration Spin-out
Following strong investor interest, Tucano Gold has decided to upsize the capital raise to C$10M at $0.50/share. This offering is priced at a post-finance valuation of only ~C$20 million and is expected to start its journey with a cash balance of around US$10 million.
Our seed round offering has a hard close on Friday the 29th of September and we expect the next round to be substantially higher than $0.50 per share. Please click on the link for the subscription agreement below if you would like to participate. We would like to thank many of our current Pilar and Laiva shareholders who are also backing us on Tucano and building a portfolio of 3 exciting gold miners that have the capacity to produce 300,000 ounces by the end of 2024.
Investors in this round of Tucano Gold will also benefit from the planned spin-out of Tucano Exploration in 2024 (like we did with the Laiva Gold spinout to Pilar Gold shareholders). Tucano Exploration will hold arguably the largest and most prospective set of tenements of any Junior explorer on the Guyana Shield that covers the Northern tip of South America and parts of West Africa.
Our tenements run 90km x 30km outside of our mining activities and we want exploration to accelerate in its own independent vehicle – Tucano Exploration – which will give investors in this seed round of Tucano Gold significant upside.
We have a strong track record of shareholder returns since our first seed round in Pilar Gold at $0.10 per share (last round was $1.00) and believe this seed round in Tucano Gold will be just as successful as production ramps up and Mina Tucano once again becomes a great success for all stakeholders.
