(via TheNewswire)
To date under the Unit Offering, the Company has issued an aggregate of 6,628,000 Units for aggregate gross proceeds of
Further, as previously announced, the Company had engaged an independent Canadian investing banking firm to assist with obtaining financing under the Unit Offering. That engagement has terminated and no commission was payable to the broker. Instead, the Company may pay fees to certain finders of up to 8% of the aggregate gross proceeds of subscriptions under the Unit Offering facilitated by such finders.
Lastly, further to the Company's previouslyannounced unsecured convertible debenture offering ("Debenture Offering"), withthe increase to the Unit Offering due to increased demand, the Company will no longer pursue theDebenture Offering.No convertible debentures were issuedunder the Debenture Offering.
The proceeds from the Unit Offering will be used for exploration and development of the Company's Fontaine mineral and placer gold claims, as well as equipment and inventory purchases and working capital.
The Company plans on closing the final tranche of the Unit Offering by
About
The Company controls a 100% interest in the flagship
Additional information about
Below is a current map of the Company's mining claims:
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For more information contact:
Mr.
President and Chief Executive Officer
780-993-2193
This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date ofthis news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release include, without limitation, statements regarding the offering. In making the forward- looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
The securities of the company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in
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