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THUNDER BAY, ON, Oct. 14, 2016 /CNW/ - PREMIER GOLD MINES
LIMITED (PG:TSX) ("Premier" or the "Corporation") is pleased to
announce that it has completed a previously announced non-brokered
private placement (the "Offering") of 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 $5.00 per Flow-Through Share for aggregate gross
proceeds of $4,534,250 on the sale of
906,850 Flow-Through Shares.
The proceeds from the Offering are intended to be used for
exploration activities on the Corporation's Canadian mineral
exploration projects. All Flow-Through Shares issued under the
Offering are subject to a four-month plus one day hold period
pursuant to applicable Canadian securities laws.
Premier Gold Mines Limited is a respected production,
exploration and development company with a high-quality pipeline of
gold projects focused in proven, safe, and accessible mining
jurisdictions in Canada,
the United States, and
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, strategic plans, future
operations, future work programs, capital expenditures, use of
proceeds from the Offering, 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