Snowline Gold Announces C$5 Million Non-brokered Private Placement
Snowline Gold Corp. has announced a non-brokered private placement to issue up to 757,575 flow-through common shares at C$0.66, generating gross proceeds of up to C$500,000, and up to 6,081,081 premium flow-through shares at C$0.74, with gross proceeds projected at C$4,500,000. The funds will be allocated to advancing exploration on the company's Yukon mineral properties. The offering's closing is anticipated around December 15, 2021, pending approval from the Canadian Securities Exchange.
- Gross proceeds of up to C$5 million will support exploration projects.
- The offering includes warrants exercisable for additional shares at C$0.75, potentially increasing shareholder value.
- None.
The gross proceeds from the issue and sale of the FT Shares and the Premium FT Shares will be used to support advancement of exploration.
VANCOUVER, BC / ACCESSWIRE / November 22, 2021 / Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce that it has arranged to issue, on a non-brokered private placement basis, (a) up to 757,575 flow-through common shares of the Company (the "FT Shares") at a price of C
The gross proceeds from the issue and sale of the FT Shares and the Premium FT Shares will be used to support advancement of exploration on the Company's Yukon Territory mineral properties, which will qualify as "Canadian Exploration Expenses" and "flow-through mining expenditures", as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial purchasers of the FT Shares and the Premium FT Shares with an effective date no later than December 31, 2021.
It is expected that the closing of the Offering will occur on or about December 15, 2021 (the "Closing Date") and is subject to the satisfaction of certain conditions, including receipt of acceptance of the Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months and one day from the Closing Date, in accordance with applicable Canadian securities laws.
The securities issued under the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and were not to be offered or sold in the United States absentregistration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securitiesin the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >100,000 ha. The Company is exploring its flagship 72,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline's project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross' Fort Knox mine, Newmont's Coffee deposit, and Victoria Gold's Eagle Mine. Snowline's first-mover land position provides a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
ON BEHALF OF THE BOARD
Scott Berdahl, MSc, MBA, PGeo
CEO & Director
For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements regarding the anticipated use of proceeds from the Offering, the expected Closing Date and the Company's future plans and intentions. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things, risks associated with executing the Company's plans and intentions. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
SOURCE: Snowline Gold Corp.
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FAQ
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