Proceeds of the Private Placement will be used for drill programs, drill targeting, advancing the prospect pipeline from the Company's large portfolio of exploration projects, and for general working capital purposes. The Shares will be subject to a hold period of four months and one day in accordance with applicable securities laws.
The Company has agreed to pay a finder's fee to arm's length parties for services rendered in respect of the Private Placement. The finder's fee will consist of a cash fee equal to 6.0% of the gross proceeds from the sale of Shares to third parties sourced by the finders, and finder's warrants equal in number to 6.0% of the Shares sold to third parties sourced by the finders. Each finder's warrant will be exercisable into one common share of the Company at an exercise price of
This news release does not constitute an offer of securities for sale in
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Contact:
Tel: +1 (604) 644-1470
Email: jproust@japangold.com
Cautionary Note
This news release contains forward-looking statements relating to the Private Placement and the use of proceeds. These statements are forward-looking in nature and, as a result, are subject to certain risks and uncertainties that include, but are not limited to, general economic, market and business conditions; receipt and timing of regulatory approvals; new legislation; potential delays or changes in plans and the Company's ability to execute and implement future plans. There is no guarantee that the Private Placement will close or that it will close in the expected time frame. Actual results achieved may differ from the information provided herein and, consequently, readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this news release. The Company disclaims any intention or obligation to update or revise forward-looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.
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