Gold Standard Ventures Corp. Announces Full Exercise of Underwriters’ Over-Allotment Option for Bought Deal Financing
July 29 2019 - 6:30AM
Gold Standard Ventures Corp. (TSX:GSV, NYSE AMERICAN:GSV) (“Gold
Standard” or the “Company”) has announced today that, in connection
with its previously announced public offering of 15,000,000 common
shares (“Shares”) at a price of C$1.22 per Share (the “Offering
Price”) for aggregate gross proceeds to Gold Standard of C$18.3
million (the “Offering”) pursuant to an agreement with a syndicate
of underwriters led by BMO Capital Markets (“the Underwriters”),
the Underwriters have fully exercised their option to purchase an
additional 2,250,000 Shares at the Offering Price, increasing the
aggregate gross proceeds to Gold Standard to approximately C$21.0
million. The Offering is expected to close on or about July 31,
2019 and is subject to Gold Standard receiving all necessary
regulatory approvals.
The net proceeds of the Offering will be used
for continued exploration and for permitting and development at the
Company’s 100% owned Railroad-Pinion Project and for working
capital purposes.
The securities offered have not been registered
under the U.S. Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or an
applicable exemption from the registration requirements. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful.
About Gold Standard
VenturesGold Standard is an advanced stage gold
exploration company focused on district scale discoveries on its
Railroad-Pinion Project, located within the prolific Carlin Trend.
Gold Standard’s successful exploration of the Pinion and Dark Star
gold deposits has created potential near-term development option
and further consolidates the Company’s premier land package on the
Carlin Trend.
The Pinion deposit has a resource estimate
prepared in accordance with NI 43-101 consisting of an Indicated
Mineral Resource of 31.61 million tonnes grading 0.62 g/t Au,
totaling 630,300 ounces of gold and an Inferred Resource of 61.08
million tonnes grading 0.55 g/t Au, totaling 1,081,300 ounces of
gold, using a cut-off grade of 0.14 g/t Au. This resource will be
re-estimated this year to include drill results from 2018.
The Dark Star deposit, 2.1 km to the east of
Pinion, has a resource estimate prepared in accordance with NI
43-101 consisting of an Indicated Mineral Resource of 15.38 million
tonnes grading 0.54 g/t Au, totaling 265,100 ounces of gold and an
Inferred Resource of 17.05 million tonnes grading 1.31 g/t Au,
totaling 715,800 ounces of gold, using a cut-off grade of 0.2 g
Au/t. This resource will also be re-estimated this year to include
highly favourable 2018 drill results.
The North Bullion deposit, 7 km to the north of
Pinion, has a resource estimate prepared in accordance with NI
43-101 consisting of an Indicated Mineral Resource of 2.92 million
tonnes grading 0.96 g/t Au, totaling 90,100 ounces of gold and an
Inferred Resource of 10.97 million tonnes grading 2.28 g/t Au,
totaling 805,800 ounces of gold, using a cut-off grade of 0.14 g
Au/t for near surface oxide and 1.25 to 2.25 g Au/t for near
surface sulfide and underground sulfide respectively.
Neither the Toronto Stock Exchange nor its
regulation services provider nor the NYSE AMERICAN Exchange accepts
responsibility for the adequacy or accuracy of this news
release.
For further information, please contact:
Jonathan AwdePresidentTel: 604-669-5702Email:
info@goldstandardv.comWebsite: www.goldstandardv.com
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS This news release contains
forward-looking statements, which relate to future events or future
performance and reflect management’s current expectations and
assumptions. Such forward-looking statements reflect management’s
current beliefs and are based on assumptions made by and
information currently available to the Company. All statements,
other than statements of historical fact, included herein
including, without limitation, statements about the re-estimation
of mineral resource estimates, potential near term development
options, the use of proceeds from the Offering, the timing of
closing of the Offering and the receipt of all necessary regulatory
approvals, are forward looking statements. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Risk factors affecting the Company include, among
others: the results from our exploration programs, global financial
conditions and volatility of capital markets, uncertainty regarding
the availability of additional capital, fluctuations in commodity
prices; title matters; and the additional risks identified in our
filings with Canadian securities regulators on SEDAR in Canada
(available at) and with the SEC on EDGAR (available at
www.sec.gov/edgar.shtml). These forward-looking statements are made
as of the date hereof and, except as required under applicable
securities legislation, the Company does not assume any obligation
to update or revise them to reflect new events or
circumstances.
CAUTIONARY NOTE FOR U.S. INVESTORS
REGARDING RESERVE AND RESOURCE ESTIMATES
All resource estimates reported by the Company
were calculated in accordance with the Canadian National Instrument
43-101 and the Canadian Institute of Mining and Metallurgy
Classification system. These standards differ significantly from
the requirements of the U.S. Securities and Exchange Commission for
descriptions of mineral properties in SEC Industry Guide 7 under
Regulation S-K of the U. S. Securities Act of 1933. In particular,
under U. S. standards, mineral resources may not be classified as a
“reserve” unless the determination has been made that
mineralization could be economically and legally produced or
extracted at the time the reserve determination is made.
Accordingly, information in this press release containing
descriptions of the Company’s mineral properties may not be
comparable to similar information made public by US public
reporting companies.
Gold Standard Ventures (AMEX:GSV)
Historical Stock Chart
From Mar 2024 to Apr 2024
Gold Standard Ventures (AMEX:GSV)
Historical Stock Chart
From Apr 2023 to Apr 2024