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VANCOUVER, BC, June 28,
2023 /CNW/ - Eminent Gold Corp. (TSXV: EMNT)
(OTCQB: EMGDF) (the "Company") is pleased to announce a
non-brokered private placement (the "Offering") for up to
$1,500,000. Pursuant to the Offering,
if fully subscribed to, the Company will issue 4,687,500 units at a
price of $0.32 per unit, for gross
proceeds of $1,500,000.
Each unit will consist of one common share of the Company and
one common share purchase warrant (the "Warrant") exercisable to
acquire one common share at a price of $0.50 for a period of 36 months. After 4 months
from closing, if the closing price of the common shares is at a
price equal to or greater than $1.00
for a period of ten consecutive trading days, the Company will have
the right to accelerate the expiry date of the Warrants by giving
notice, via news release, to the holders of the Warrants that the
Warrants will expire on the date that is 30 days after the issuance
of said news release. The proceeds of the Offering is for the
Company's general working capital and for exploration activities.
Closing of the Offering is subject to the approval of the TSX
Venture Exchange and the Company may pay finders fees upon closing
of the Offering.
The Offering will be conducted in reliance upon certain
prospectus and private placement exemptions. The securities issued
under the private placement will be subject to a hold period
expiring four months and one day after the closing date. The common
shares have not been and will not be 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 does not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the common shares in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
On behalf of the Board of Directors,
"Paul Sun"
CEO and Director
About Eminent Gold
Eminent Gold is a gold exploration company focused on creating
shareholder value through the exploration and discovery of
world-class gold deposits in Nevada. Its multidisciplinary team has had
multiple successes in gold discoveries and brings expertise and new
ideas to the Great Basin. The Company's exploration assets in the
Great Basin include: Hot Springs Range Project, Weepah,
Gilbert South and Spanish Moon
District.
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.
This news release contains certain statements that may be
deemed "forward-looking statements" with respect to the Company
within the meaning of applicable securities laws. Forward-looking
statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects",
"plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or
conditions "will", "would", "may", "could" or "should" occur.
Forward-looking statements made in this news release include the
anticipated completion of the private placement and the use of
proceeds from the private placement. Although Eminent Gold
Corp. believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, including the
assumption that records and reports of historical work are accurate
and correct, such statements are not guarantees of future
performance, are subject to risks and uncertainties, and actual
results or realities may differ materially from those in the
forward-looking statements. Such material risks and uncertainties
include, but are not limited to, the Company's ability to raise
sufficient capital to fund its obligations under its property
agreements going forward, to maintain its mineral tenures and
concessions in good standing, to explore and develop the Company's
projects or its other projects, to repay its debt and for general
working capital purposes; changes in economic conditions or
financial markets; the inherent hazards associates with mineral
exploration and mining operations, future prices of gold, silver
and other metals, changes in general economic conditions, accuracy
of mineral resource and reserve estimates, the ability of the
Company to obtain the necessary permits and consents required to
explore, drill and develop the Company's projects and if obtained,
to obtain such permits and consents in a timely fashion relative to
the Company's plans and business objectives for the projects; the
general ability of the Company to monetize its mineral resources;
and changes in environmental and other laws or regulations that
could have an impact on the Company's operations, compliance with
environmental laws and regulations, aboriginal title claims and
rights to consultation and accommodation, dependence on key
management personnel and general competition in the mining
industry. Forward-looking statements are based on the reasonable
beliefs, estimates and opinions of the Company's management on the
date the statements are made. Except as required by law, the
Company undertakes no obligation to update these forward looking
statements in the event that management's beliefs, estimates or
opinions, or other factors, should change.
SOURCE Eminent Gold Corp.