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THUNDER BAY, ON, Sept. 12, 2016 /CNW/ - PREMIER GOLD MINES
LIMITED (PG:TSX) ("Premier" or the "Corporation") is pleased to
announce that it intends to complete a non-brokered private
placement (the "Offering") of up to 850,000 common shares that are
"flow-through shares" within the meaning of the Income Tax
Act (Canada) (each, a
"Flow-Through Share") at a price of $5.50 per Flow-Through Share for aggregate gross
proceeds of up to approximately $4,675,000.
The securities to be issued under this Offering will be offered
by way of private placement in the provinces of British Columbia, Alberta and Ontario and such other provinces or
territories of Canada as may be
determined by the Corporation, in each case, pursuant to applicable
exemptions from the prospectus requirements under applicable
securities laws. Securities issued under the Offering will be
subject to a four-month hold period which will expire four months
and one day from the date of closing of the Offering.
Closing of the Offering is anticipated to occur on or about
October 14, 2016. The Offering is
subject to approval by the Toronto Stock Exchange and other
customary conditions for a transaction of this nature. The proceeds
from the Offering will be used for exploration activities on the
Corporation's Canadian mineral exploration projects.
Premier Gold Mines Limited is one of North America's leading junior producing
companies with a high-quality pipeline of projects focused in
proven, safe and accessible mining jurisdictions in Canada and the
United States that includes world class gold mining
districts such as Red Lake and
Geraldton in Ontario and the Carlin and Eureka-Battle Mountain Trends in
Nevada. The Company is currently
in the process of acquiring the Mercedes Mine located in
Sonora, Mexico.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION: This press release contains certain information
that may constitute "forward-looking information" under applicable
Canadian securities legislation. Forward-looking information
includes, but is not limited to, statements about use of proceeds
of the Offering and other terms of the Offering, the ability to
satisfy conditions to completion of the Offering, the anticipated
closing date of the Offering, strategic plans, future
operations, future work programs, capital expenditures, discovery
and production of minerals, price of gold and currency exchange
rates, timing of geological reports, mineral resource estimates and
corporate and technical objectives. Forward-looking information is
necessarily based upon a number of assumptions that, while
considered reasonable, are subject to known and unknown risks,
uncertainties, and other factors which may cause the actual results
and future events to differ materially from those expressed or
implied by such forward-looking information, including risks
inherent to the mining industry, adverse economic and market
developments and the risks identified in Premier's annual
information form under the heading "Risk Factors". There can be no
assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should
not place undue reliance on forward-looking information. All
forward-looking information contained in this press release is
given as of the date hereof and is based upon the opinions and
estimates of management and information available to management as
at the date hereof. Premier disclaims any intention or
obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by law.
SOURCE Premier Gold Mines Limited