Dakota Territory Resource Corp Announces Up To $25 Million Financing

Rhea-AI Summary

Dakota Territory Resource Corp (OTCQB: DTRC) announced plans for a non-brokered private placement of up to 5,555,556 shares at $4.50 each, targeting gross proceeds of $25 million. The placement is anticipated to close by July 9, 2021, pending approvals. Proceeds will support general working capital and exploration of gold properties. The shares will be offered under exemptions from registration requirements. Forward-looking statements highlight potential risks, including market conditions and completion uncertainties.

Positive

• Targeting up to $25 million in gross proceeds through private placement.
• Funds will support exploration of high-caliber gold properties.

Negative

• Completion of the private placement is uncertain and subject to market conditions.
• Shares offered may not be registered under the Securities Act.

Lead, South Dakota, June 15, 2021 (GLOBE NEWSWIRE) -- Dakota Territory Resource Corp (OTCQB: DTRC) ("Dakota Territory" or the "Company") is pleased to announce its intention to complete a non-brokered private placement (the "Private Placement") of up to 5,555,556 shares of common stock of the Company (each a “Common Share”) at a price of $4.50 per Common Share for aggregate gross proceeds of up to $25 million pursuant to an exemption from the registration requirements under the Securities Act of 1933, as amended (the “Securities Act”).

The Private Placement is expected to close on or before July 9, 2021, subject to all necessary approvals. The net proceeds of the Private Placement will be used by Dakota Territory for general working capital purposes and exploration of its gold properties.

This new release is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful. Any securities offered and sold under the Private Placement have not been, and will not be, registered under the Securities Act, or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the Securities Act and applicable state securities requirements or pursuant to exemptions therefrom.

About Dakota Territory Resource Corp

Dakota Territory Resource Corp is a Nevada corporation with offices located at Lead, South Dakota. Dakota Territory is committed to creating shareholder value through the acquisition and responsible exploration and development of high caliber gold properties in the Black Hills of South Dakota.

Inquiries

Shareholder and Investor Inquiries: For more information, please contact Jonathan Awde at 604-761-5251 or info@gold-sd.com.

Social and Public Relations Inquiries: For more information, please contact Elizabeth Sailer at 605-580-0480 or info@gold-sd.com.

Forward Looking Statements

This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including the statements regarding the Private Placement. These forward-looking statements are based on assumptions and expectations that may not be realized and are inherently subject to numerous risks and uncertainties, which could cause actual results to differ materially from these statements. These risks and uncertainties include, among others, the inability to complete the Private Placement on the terms contemplated, or at all, the use of proceeds of the Private Placement, the state of the economy and financial markets generally and the effect on our industry, and the market for our common stock. The foregoing list is not exhaustive. For additional information regarding factors that may cause actual results to differ materially from those indicated in our forward-looking statements, we refer you to the risk factors included in Item 1A of our Annual Report on Form 10-K for the year ended March 31, 2020, as amended, as updated by annual, quarterly and other reports and documents that we file with the SEC. We caution investors not to place undue reliance on the forward-looking statements contained in this communication. These statements speak only as of the date of this communication, and we undertake no obligation to update or revise these statements, whether as a result of new information, future events or otherwise, except as may be required by law.

FAQ

What is Dakota Territory Resource Corp planning on June 15, 2021?

Dakota Territory Resource Corp is planning a non-brokered private placement of up to 5,555,556 shares at $4.50 each.

What is the target amount Dakota Territory Resource Corp aims to raise?

The company aims to raise up to $25 million through the private placement.

When is the expected closing date for the private placement?

The private placement is expected to close on or before July 9, 2021.

What will the proceeds from the private placement be used for?

The proceeds will be used for general working capital and exploration of gold properties.

Is the private placement subject to regulatory approvals?

Yes, the private placement is subject to necessary approvals.