Golden Dawn Minerals Inc. Announces Corporate Update

Rhea-AI Summary

Golden Dawn Minerals Inc. has announced a name change to CanXGold Mining Corp. effective September 21, 2022, with a new ticker symbol, TSX-V: CGX. Existing shareholders will not need to take any action, as there is no change in share capital.

The company has also secured $300,000 in a loan agreement for general working capital and drilling on the Phoenix Property, with a one-year term at an interest rate of 12.0% per annum, and has issued 800,000 bonus shares.

Positive

• Secured a loan agreement of $300,000 for working capital and drilling.
• Interest rate of 12.0% per annum is reasonable for the financing.
• Issued 800,000 bonus shares, potentially increasing investor interest.

Negative

• Forward-looking statements warn of potential risks related to share consolidation and capital raising.

VANCOUVER, BC / ACCESSWIRE / September 16, 2022 / Golden Dawn Minerals Inc., (TSXV:GOM)(FRANKFURT:3G8C)(OTC PINK:GDMRF), ("Golden Dawn" or the "Company"), is pleased to announce that it has filed with the TSX Venture Exchange (the "Exchange") a notice of name change to "CanXGold Mining Corp." Effective at the opening of trading on or about Wednesday, September 21, 2022 CanXGold Mining Corp. will commence trading under the new ticker symbol TSX-V: CGX.

No further action is required by existing shareholders with respect to the name change. There is no change in the share capital of the Company. The Company's new CUSIP number is 13875F101. and its new ISIN number is CA13875F1018. Certificates representing common shares of the Company will not be affected by the name and symbol change and will not need to be exchanged.

The Company also announces it has received Exchange approval for its previously announced loan agreement of September 6, 2022. The loan agreement with an arm's length accredited investor in the amount of $300,000 will be used for general working capital and drilling on the Phoenix Property. The term of the loan is one year. Interest for the loan is at 12.0 percent per annum. The Company issued 800,000 bonus shares with a hold expiry date of January 14, 2023.

On behalf of the Board of GOLDEN DAWN MINERALS INC.

Per:
"Christopher R. Anderson"

Christopher R. Anderson
Chief Executive Officer

For further information, please contact:
Golden Dawn Minerals Inc. - Corporate Communications:
Tel: 604-221-8936
Email: Office@goldendawnminerals.com

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

Forward-Looking Statement Cautions:

This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, preliminary plans for a consolidation of the Company's Shares. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange will not approve the proposed share consolidation, and that the Company may not be able to raise sufficient additional capital to continue its business. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.

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

SOURCE: Golden Dawn Minerals Inc.

View source version on accesswire.com:
https://www.accesswire.com/716364/Golden-Dawn-Minerals-Inc-Announces-Corporate-Update

FAQ

What is the new name for Golden Dawn Minerals Inc.?

Golden Dawn Minerals Inc. will be known as CanXGold Mining Corp., effective September 21, 2022.

What is the new ticker symbol for CanXGold Mining Corp.?

The new ticker symbol will be TSX-V: CGX.

How much funding has Golden Dawn secured?

Golden Dawn secured a loan of $300,000 for general working capital.

What is the interest rate on the loan agreement?

The loan agreement has an interest rate of 12.0% per annum.

What are the terms for the bonus shares issued by Golden Dawn?

Golden Dawn issued 800,000 bonus shares with a hold expiry date of January 14, 2023.