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Snowline Gold Completes Oversubscribed C$31.9 Million Financing

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Snowline Gold Corp. has successfully completed an oversubscribed C$31.9 million financing, consisting of a bought deal private placement of charity flow-through common shares and a non-brokered private placement. The Company raised a total of C$31,907,850, with existing shareholder B2Gold Corp. maintaining its 9.9% interest in Snowline. The proceeds will fund Canadian exploration expenses for projects in the Yukon Territory until December 2025. The financing allows Snowline to expand exploration activities and advance its Canadian gold district projects.
Snowline Gold Corp. ha completato con successo un finanziamento sovra-sottoscritto di 31,9 milioni di dollari canadesi, costituito da una colocazione privata comprata di azioni ordinare a flusso di beneficenza e una colocazione privata non mediata. La società ha raccolto un totale di 31.907.850 dollari canadesi, con il socio esistente B2Gold Corp. che ha mantenuto il suo interesse del 9,9% in Snowline. I proventi finanzieranno le spese di esplorazione canadese per i progetti nel territorio dello Yukon fino a dicembre 2025. Questo finanziamento permette a Snowline di espandere le attività di esplorazione e di avanzare nei suoi progetti nel distretto aurifero canadese.
Snowline Gold Corp. ha completado exitosamente una financiación excesivamente suscrita de C$31.9 millones, consistente en una colocación privada comprada de acciones comunes de caridad y una colocación privada sin intermediarios. La compañía recaudó un total de C$31,907,850, con el accionista existente B2Gold Corp. manteniendo su interés del 9.9% en Snowline. Los fondos se destinarán a los gastos de exploración canadienses para proyectos en el Territorio de Yukón hasta diciembre de 2025. La financiación permite a Snowline expandir sus actividades de exploración y avanzar en sus proyectos del distrito aurífero canadiense.
스노라인 골드 코퍼레이션이 자선 흐름을 통한 공통 주식과 비중개 사적 배치로 구성된 C$31.9백만의 과대모집 자금 조달을 성공적으로 완료하였습니다. 회사는 총 C$31,907,850를 조성하였으며, 기존 주주 B2Gold Corp.는 스노라인에서 9.9%의 이익을 유지하였습니다. 이 자금은 2025년 12월까지 유콘 지역의 프로젝트를 위한 캐나다 탐사 비용을 지원할 것입니다. 이 자금 조달은 스노라인이 탐사 활동을 확대하고 캐나다 금 광구 프로젝트를 발전시키는 데 도움이 될 것입니다.
Snowline Gold Corp. a réussi à compléter un financement sursouscrit de 31,9 millions de dollars canadiens, comprenant un placement privé acheté d’actions ordinaires avantageuses pour des œuvres caritatives et un placement privé non intermédié. La société a levé un total de 31 907 850 dollars canadiens, avec l’actionnaire existant B2Gold Corp. conservant son intérêt de 9,9 % dans Snowline. Les recettes financeront les dépenses d'exploration canadienne pour les projets dans le territoire du Yukon jusqu'à décembre 2025. Ce financement permet à Snowline d'élargir ses activités d'exploration et de faire avancer ses projets dans le district aurifère canadien.
Snowline Gold Corp. hat erfolgreich eine überzeichnete Finanzierung von 31,9 Millionen Kanadischen Dollar abgeschlossen, bestehend aus einem fest übernommenen Private Placement von gemeinnützigen Durchlauf-Aktien und einer nicht vermittelten privaten Platzierung. Das Unternehmen hat insgesamt C$31.907.850 aufgebracht, wobei der bestehende Aktionär B2Gold Corp. seinen Anteil von 9,9% an Snowline beibehalten hat. Die Erlöse werden die kanadischen Erkundungsausgaben für Projekte im Yukon-Territorium bis Dezember 2025 finanzieren. Die Finanzierung ermöglicht es Snowline, seine Erkundungsaktivitäten auszudehnen und seine Projekte im kanadischen Goldbezirk voranzutreiben.
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Not for distribution to the United States newswire services or for dissemination in the United States

VANCOUVER, BC / ACCESSWIRE / April 25, 2024 / Snowline Gold Corp. (TSX-V:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce that it has completed its previously announced "bought deal" private placement of 3,685,750 charity flow-through common shares of the Company (the "FT Shares") at a price of C$7.80 per FT Share (the "Offering Price") for aggregate gross proceeds of C$28,748,850 (the "Offering"), including C$3,749,850 from the full exercise of the underwriters' option. Each FT Share will qualify as a "flow-through share" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act")).

The Company also completed a concurrent non-brokered private placement of 405,000 FT Shares at the Offering Price for additional gross proceeds of C$3,159,000, through which existing shareholder B2Gold Corp. (TSX: BTO, NYSE American: BTG, NSX: B2G) subscribed to maintain its 9.9% interest in the Company.

"The present financing provides Snowline the bandwidth to significantly expand the scope of our upcoming field season, allowing us to simultaneously pursue exploration at our Rogue Project's Valley target alongside an aggressive regional drill campaign," said Scott Berdahl, CEO & Director of Snowline. "We continue to be impressed both by the results from Valley and from our pipeline of regional targets, and we are keen to unlock value through discovery and efficient advancement of what we see as an emerging Canadian gold district. And we are grateful for the investment of supportive shareholders who have initiated, maintained, or expanded on their positions in Snowline through this raise."

The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Shares, in the amount of C$31,907,850, to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as both terms are defined in the Tax Act (the "Qualifying Expenditures") related to the Company's projects in the Yukon Territory, on or before December 31, 2025, and will renounce all the Qualifying Expenditures in favour of the subscribers of the FT Shares effective December 31, 2024.

The Offering was made through a syndicate of underwriters led by Cormark Securities Inc. and BMO Capital Markets, and including Canaccord Genuity Corp., CIBC World Markets Inc., National Bank Financial Inc., SCP Resource Finance LP and Paradigm Capital Inc. (collectively, the "Underwriters"). The Underwriters received a cash commission equal to 5% of the gross proceeds of the Offering. The Company paid a finder's fee equal to 2.5% of the gross proceeds of the non-brokered private placement to an arm's length party.

All securities issued in connection with the Offering are subject to a hold period of four months and one day from the closing of the Offering, in accordance with applicable Canadian securities laws, expiring on August 26, 2024. Closing of the Offering is subject to the final acceptance of the TSX Venture Exchange.

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 notconstitute 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 an eight-project portfolio covering >360,000 ha (>3,600 km2). The Company is exploring its flagship >110,000 ha (>1,100 km2) Rogue gold project 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's Fort Knox Mine, Newmont's Coffee deposit, and Victoria Gold's Eagle Mine. The Company's first-mover land position and extensive database provide 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 6505485
info@snowlinegold.com

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

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 ability of the Company to incur in full or at all "Canadian exploration expenses" that qualify as "flow-through mining expenditures" and the renunciation thereof to the purchasers of the FT Shares and timing thereof, the final acceptance of the TSX Venture Exchange, the tax treatment of the FT Shares, the expansion of the scope of the Company's field studies, the Company's pursuit of exploration and regional drilling, the Company's ability to unlock value through discovery, the establishment of a gold district, 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 risks, 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.



View the original press release on accesswire.com

FAQ

How much financing did Snowline Gold complete?

Snowline Gold completed an oversubscribed C$31.9 million financing.

What type of private placements did Snowline Gold undertake?

Snowline Gold undertook a bought deal private placement of charity flow-through common shares and a non-brokered private placement.

Who subscribed to maintain their interest in Snowline Gold?

Existing shareholder B2Gold Corp. subscribed to maintain its 9.9% interest in Snowline Gold.

What will the proceeds of the financing be used for?

The proceeds will be used for Canadian exploration expenses for projects in the Yukon Territory until December 2025.

What is the significance of the financing for Snowline Gold?

The financing allows Snowline Gold to expand exploration activities and advance its Canadian gold district projects.

SNOWLINE GOLD CORP

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