Sassy Closes $2.2 Million Gander Gold Financing

Rhea-AI Summary

Sassy Resources Corporation has successfully completed a non-brokered private placement through its subsidiary, Gander Gold Corporation, raising $2,200,000 by issuing 11,000,000 convertible special warrants at $0.20 each. A notable investment from Mr. Eric Sprott increased his ownership in Gander Gold to 17.35%. This brings Gander Gold's total raised capital to $5,001,208. Sassy CEO Mark Scott will participate in a panel discussion at the Newfoundland.Gold Virtual Investor Days event.

Positive

• Successful completion of a $2,200,000 private placement.
• Mr. Eric Sprott increased his ownership in Gander Gold to 17.35%.
• Total funding raised by Gander Gold now stands at $5,001,208.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / June 3, 2021 / Sassy Resources Corporation ("Sassy" or the "Company") (CSE:SASY)(OTCQB:SSYRF)(FSE:4E7) is pleased to announce that, further to its news release of May 28, 2021, it has closed a non-brokered private placement (the "Private Placement") in its subsidiary, Gander Gold Corporation ("Gander Gold"), including an additional strategic investment by Mr. Eric Sprott in the amount of $1,600,000 which brings Mr. Sprott's ownership position in Gander Gold (on conversion of special warrants) to 17.35%.

The Private Placement of 11,000,000 convertible special warrants, issued at a price of $0.20 per special warrant, generated net proceeds of $2,200,000. The special warrants will be converted into common shares of Gander Gold at a date to be determined by the board of directors of Gander Gold, but no later than two weeks after Gander Gold becomes a reporting issuer.

To date, Gander Gold has raised $5,001,208 through the issuance of convertible special warrants and common shares with no finder's fees.

Sassy CEO Mark Scott at Newfoundland.Gold Virtual Investor Days

Sassy reminds investors that Sassy President and CEO Mark Scott will be part of a panel discussion today, Thursday, June 3, 2021 at 10:00AM PST (1:00PM EST) as part of the Virtual Investor Days event hosted by the Newfoundland.Gold alliance. For more information and to register for today's event, please visit Newfoundland.Gold.

About Sassy Resources Corporation

Sassy Resources is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal and base metal projects in North America. Its focus is the Foremore Gold-Silver Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest B.C.'s prolific Golden Triangle, and the Central Newfoundland Gold Belt.

Caution Regarding Forward Looking Statements

Investors are cautioned that, except for statements of historical fact, certain information contained in this document includes "forward looking information", with respect to a performance expectation for Sassy Resources Corporation. Such forward looking statements are based on current expectations, estimates and projections formulated using assumptions believed to be reasonable and involving a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. Such factors include, without limitation, fluctuations in foreign exchange markets, the price of commodities in both the cash market and futures market, changes in legislation, taxation, controls and regulation of national and local governments and political and economic developments in Canada and other countries where Sassy carries out or may carry out business in the future, the availability of future business opportunities and the ability to successfully integrate acquisitions or operational difficulties related to technical activities of mining and reclamation, the speculative nature of exploration and development of mineral deposits, including risks obtaining necessary licenses and permits, reducing the quantity or grade of reserves, adverse changes in credit ratings, and the challenge of title. The Company does not undertake an obligation to update publicly or revise forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Some of the results reported are historical and may not have been verified by the Company.

Contact Info:

Mark Scott
Chief Executive Officer & Director
info@sassyresources.ca

Terry Bramhall
Sassy Resources Corporate Communications/IR
1.604.833.6999 (mobile)
1.604.675.9985 (office)
terry.bramhall@sassyresources.ca

In Europe:

Michael Adams
Managing Director - Star Finance GmbH
info@star-finance.eu

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Sassy Resources Corporation

View source version on accesswire.com:
https://www.accesswire.com/650203/Sassy-Closes-22-Million-Gander-Gold-Financing

FAQ

What is the total amount raised by Gander Gold in the recent financing?

Gander Gold has raised a total of $5,001,208 through the issuance of convertible special warrants and common shares.

How much did Mr. Eric Sprott invest in Gander Gold?

Mr. Eric Sprott invested $1,600,000 in Gander Gold through the recent private placement.

What is the price per special warrant in Sassy's private placement?

The price per special warrant in the private placement was $0.20.

When will the special warrants be converted into common shares of Gander Gold?

The special warrants will be converted into common shares no later than two weeks after Gander Gold becomes a reporting issuer.

Who is participating in the Virtual Investor Days event?

Sassy CEO Mark Scott will be part of a panel discussion at the Virtual Investor Days event hosted by Newfoundland.Gold.