Athena Gold Corp Celebrates Successful Financing Round

In a significant development for the mining sector, Athena Gold Corp, a U.S.-based mining company listed on the OTC Bulletin Board, has successfully closed an oversubscribed flow-through financing round. This strategic move underscores the company’s commitment to advancing its exploration projects in Ontario, Canada.

On April 28, 2025, Athena Gold Corp announced the completion of a non-brokered private placement of flow-through common shares, initially announced on April 7, 2025, and subsequently amended on April 21, 2025. The company issued a total of 15.3 million flow-through shares at a price of CAD $0.05 each, raising gross proceeds of CAD $765,000. This figure notably exceeds the original financing target by CAD $265,000, highlighting the strong investor confidence in Athena Gold’s potential.

The oversubscription prompted the company to seek and secure approval from the Canadian Securities Exchange to increase the size of the offering from the initially planned CAD $500,000. This adjustment reflects the heightened demand and investor interest in Athena Gold’s strategic initiatives.

The proceeds from this financing round are earmarked for the development of the Laird Lake and Oneman Lake Projects, both located in Ontario, Canada. These projects represent a significant opportunity for Athena Gold to expand its exploration activities and potentially increase its resource base.

Flow-through shares, as issued by Athena Gold, offer investors a tax advantage under the Income Tax Act (Canada). The gross proceeds from the issuance of these shares will be used to incur eligible expenses on the company’s Canadian mineral exploration properties, providing a tax credit to investors.

Despite a challenging financial landscape, as indicated by a negative price-to-earnings ratio of -13.01 and a market capitalization of USD $9,350,000, Athena Gold’s successful financing round is a testament to its strategic focus and the potential of its exploration projects. The company’s ability to attract significant investor interest and secure additional funding will be crucial as it continues to advance its operations in Canada.

As Athena Gold Corp moves forward with its plans for the Laird Lake and Oneman Lake Projects, the mining community and investors alike will be watching closely. The company’s strategic initiatives and the successful financing round may well set the stage for future growth and development in the mining sector.