Getchell Gold Corp. (GGA1:Frankfurt) began publicly trading on the Frankfurt Stock Exchange earlier today. The company’s initial public offering (IPO) was priced at €4.00 per share, at which the company raised €8 million (US$9.46 million).
Getchell Gold Corp. is a Canadian-based development stage company engaged in the acquisition, exploration and development of gold projects in the United States. It currently holds an option to acquire a 100% interest in the Archer Gold Property, a 326 hectare prospective gold property located in Lander County, Nevada.
CEO and chairperson, Stuart Wolsey, commented on the listing: “We are delighted to become the first public gold exploration company to list on the Frankfurt Stock Exchange and share our exploration and discovery story with a larger German and European audience. We are busy executing on our business plan and look forward to being able to participate in the extensive European network of sophisticated investors and capital resources that the Frankfurt Stock Exchange offers.”
The company intends to use proceeds from this offering to fund exploration work on the Archer Gold Property. This includes working towards completing a NI 43-101 compliant mineral resource estimate, as well as geophysics, outcropping, mapping and drilling. In addition, Getchell Gold Corp. will use some of these funds for general working capital.
Now that the company has made its market debut, it is expected that Getchell Gold Corp. will be able to attract the attention of a wide array of institutional and retail investors. This will enable the company to build a strong relationship with current and potential shareholders as it continues to progress.
Overall, Getchell Gold Corp. is now beginning a new chapter in its history, as the company starts its journey on the Frankfurt Stock Exchange. With the listing, the company is now well positioned to take advantage of the numerous opportunities that the Frankfurt market offers to growing companies.