Allegiant Gold Ltd. announced a private placement of 6,994,114 subscription receipts at a price of CAD 0.60 for gross proceeds of CAD 4,196,468.4 on January 29, 2018. The transaction involved participation from existing investor, Columbus Gold Corp. (TSX:CGT).

The subscription receipts are convertible into one common share and share purchase warrant. The company paid cash commission of CAD 164,094 to agents and finders and issued a total of 273,490 compensation options and warrants.