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MarketScreener Homepage  >  Equities  >  TSX VENTURE EXCHANGE  >  GoldON Resources Ltd.    GLD   CA38147L2066

GOLDON RESOURCES LTD.

(GLD)
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GoldON Resources : Arranges Non-Brokered Private Placement Financing

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09/18/2020 | 05:30pm EDT

VICTORIA, BC / ACCESSWIRE / September 18, 2020 / GoldON Resources Ltd. (TSXV: GLD) ('GoldON' or the 'Company') has arranged a non-brokered private placement of 1,000,000 common share units at a price of $0.50 per unit with qualified investors to raise $500,000 in gross proceeds. Each unit will consist of one common share and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.75 per share for a period of two years from the closing date.

Completion of this financing is subject to TSX Venture Exchange acceptance. The Company may pay a finder's fee of up to 6% cash and 6% agent's warrants on subscription proceeds. All securities issued pursuant to this offering will have a hold period expiring four months after the closing date.

The net proceeds of this financing will be used to fund work on the Company's exploration properties in the Red Lake Gold Camp and for general working capital purposes.

About GoldON Resources Ltd.

GoldON is an exploration company focused on discovery-stage properties located in the prolific gold mining belts of northwestern Ontario, Canada. Our current project portfolio includes four properties in the Red Lake Mining Division (West Madsen, Pipestone Bay, McDonough and Bruce Lake) and a fifth property in the Patricia Mining Division (Slate Falls). If you are an investor looking for exposure to the rising gold price, then GoldON is an explorer worthy of a closer look: tight share structure with a $9 million market cap, discovery-stage projects all in good standing, experienced management and advisors, and no debt with capital devoted to exploration not excessive salaries.

For additional information: please visit our website at https://goldonresources.com, you can download our latest presentation by clicking here and you can follow us on Twitter at https://twitter.com/GoldONResources.

ON BEHALF OF THE BOARD

Signed 'Michael Romanik'

Michael Romanik, President
Direct line: (204) 724-0613
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer

GoldON Resources Ltd. published this content on 18 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 September 2020 21:29:06 UTC


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Financials
Sales 2019 - - -
Net income 2019 -0,35 M -0,26 M -0,26 M
Net cash 2019 0,75 M 0,57 M 0,57 M
P/E ratio 2019 -26,0x
Yield 2019 -
Capitalization 11,3 M 8,61 M 8,61 M
EV / Sales 2018 -
EV / Sales 2019 -
Nbr of Employees -
Free-Float 87,2%
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Managers
NameTitle
Michael Romanik President, Chief Executive Officer & Director
Joseph Jerome Smulders Chief Financial Officer & Director
James Darcel Independent Director
Brian C. Doutaz Independent Director
Colleen Sue Davis Secretary
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