Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United States
  4. OTC Markets
  5. Ophir Gold Corp.
  6. News
  7. Summary
    KPZIF   CA68374D1069

OPHIR GOLD CORP.

(KPZIF)
SummaryQuotesChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

MinKap Announces Closing of Private Placement

09/22/2020 | 11:15am EDT

Toronto, Ontario--(Newsfile Corp. - September 22, 2020) - MinKap Resources Inc. (TSXV: KAP) (the "Company" or "MinKap"), is pleased to announce that further to its news release of September 15, 2020, the Company has completed the previously announced non-brokered private placement through the issuance of an aggregate of 9,999,998 ("Units") of the Company at a price of $0.075 per Unit for gross proceeds of $749,999.85 (the "Offering").

Each Unit consists of one common share (each, a "Common Share") in the capital of the Company and one Common Share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.15 for a period of twenty-four (24) months from the closing date of the Offering.

The net proceeds of the offering will be used for the exploration and development of the Breccia Gold property and the contiguous Lightning Tree property (collectively referred to as, the "Breccia Gold Property"), located in Lemhi County, Idaho, USA, as well as for general working capital purposes.

All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day. The Offering remains subject to final acceptance of the TSX Venture Exchange ("TSX-V"). The Offering remains subject to receipt of all necessary regulatory and other approvals, including the final approval of the TSX-V.

In connection with the Offering, certain eligible persons (the "Finders") were paid a cash commission equal to 8% of the gross proceeds raised from subscribers introduced to the Company by such Finders.

The Breccia Gold Property

The Company has an option to earn a 100% interest in the Breccia Gold Property (as previously announced in the Company's press releases of September 15, 2020 and July 6, 2020, which are available under the Company's issuer profile on SEDAR), which is accessible by paved highway and a network of well-maintained gravel roads, situated approximately 40 kilometres southwest of Salmon, Idaho. The Breccia Gold Property is host to the historic Gahsmith gold mine, which is central to a significant low-sulphidation epithermal gold system. The Breccia Gold Property consists of 80 claims covering approximately 1,650 acres within the Blackbird Mining District, and contiguous to the south and southwest of the historic Musgrove Creek Gold Mine.

On behalf of the Board of Directors

MinKap Resources Inc.

Jonathan Armes
President & CEO
Phone 1 (416) 708-0243

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

Forward-Looking Information

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to the Transaction and the Offering, risk related to the failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances, except in accordance with applicable securities laws. Actual events or results could differ materially from the Company's expectations or projections.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64381


© Newsfilecorp 2020
All news about OPHIR GOLD CORP.
06/22OPHIR GOLD CORP.  : Collars First Hole of its 2021 Drill Program at the Breccia ..
AQ
06/21OPHIR GOLD  : Collars First Hole of 2021 Drill Program at Breccia Gold Property,..
MT
06/02Ophir Gold Corp. Announces Commencement of 2021 Drill Program with Mobilizati..
NE
05/17Ophir Gold Announces Submission of a 5-Year Plan of Operations for Extended E..
NE
04/30OPHIR GOLD  : President Resigns
MT
04/30Ophir Gold Corp. Announces Resignation of President and Director
NE
04/20Canagold Offers Update on Three Optioned Properties
MT
04/06Ophir Gold Corp. Commences Trading in the USA on the OTCQB (R) Venture Market
NE
03/25OPHIR GOLD  : Ubique minerals and ophir gold corp agree to a second amendment to..
AQ
03/16Ophir Gold Corp. Engages Cabo Drilling Corp. for the 2021 Drill Program at Br..
NE
More news
Financials
Sales 2020 - - -
Net income 2020 -0,24 M -0,19 M -0,19 M
Net cash 2020 0,22 M 0,18 M 0,18 M
P/E ratio 2020 -6,17x
Yield 2020 -
Capitalization 10,1 M 8,22 M 8,21 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 95,5%
Chart OPHIR GOLD CORP.
Duration : Period :
Ophir Gold Corp. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Managers and Directors
NameTitle
Shawn Westcott Chief Executive Officer & Director
Marco Guidi Chief Financial Officer
James Garnet Clark Independent Director
Errin Kimball Director
Jon Bey Director
Sector and Competitors
1st jan.Capitalization (M$)
OPHIR GOLD CORP.-27.82%8
NEWMONT CORPORATION4.63%50 295
BARRICK GOLD CORPORATION-10.62%37 311
POLYUS-3.00%27 487
WHEATON PRECIOUS METALS CORP.2.13%19 878
NEWCREST MINING LIMITED1.12%16 127