Gold Bag Inc., a Reno-based mining company that operates as Focus Gold Corp, said last week it raised more than $1.5 million in a private placement of restricted stock.
The company said it will use the money for exploration on its Mexican properties and also plans to lend $250,000 to Metallum Resources for an exploration program on properties in Scotland. Gold Bag plans to acquire Metallum, which is headquartered in Sydney, Australia.
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