/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Aug. 16,
2022 /CNW/ - Gold Line Resources
Ltd. (TSXV: GLDL) (OTCQB: TLLZF) ("Gold Line" or
the "Company") is pleased to announce a non-brokered private
placement of up to 16,666,668 shares at a price of $0.12 per unit for proceeds of up to $2,000,000 (the "Financing")
Each unit will consist of one common share and one-half of one
share purchase warrant (the "Units"). Each full warrant will
entitle the holder to purchase one common share at a price of
$0.25 per common share for a period
of twenty-four (24) months from the date of issuance (the
"Warrants").
The Company will pay a finder's fee of 6% on the gross proceeds
of the Financing from subscribers introduced by certain finders,
and will issue such number of finder's warrants ("Finder's
Warrants") as is equal to 6% of the Units sold to subscribers
introduced by certain finders. Each Finder's Warrant will entitle
the holder thereof to purchase one common share of the Company (a
"Finder's warrant Share") at a price of $0.25 per Finder's Warrant Share for a period of
twenty-four (24) months from the date of issuance.
Gold Line intends to use the proceeds from the Financing for
drilling and other exploration activities and general working
capital purposes.
All securities issued under the Financing are subject to TSX
Venture Exchange approval will be subject to a four month and one
day hold period after the date of closing.
ABOUT GOLD LINE RESOURCES
LTD.
Gold Line Resources is focused on acquiring mineral properties
with exceptional exploration potential in the most prolific
gold-producing regions of Sweden
and Finland. Gold Line is working
in two of the world's top mining jurisdictions and emerging
exploration frontiers due to their strong mineral endowment, stable
tenure, straightforward permitting, favourable tax regime and
supportive geopolitical landscape.
Gold Line currently holds a prospective portfolio of gold
exploration projects in Sweden and
Finland. In Sweden projects are located in the Gold Line
Mineral Belt and Skellefteå Belt of north-central Sweden, and the Mjøsa-Vänern Belt in southwest
Sweden. In Finland Gold Line holds the entire
underexplored Oijärvi Greenstone Belt located in northern
Finland.
ON BEHALF OF THE BOARD OF
DIRECTORS OF GOLD LINE RESOURCES,
Adam Cegielski
CEO & Director
FOLLOW US:
Website: https://www.goldlineresources.com/
Facebook: https://www.facebook.com/Gold-Line-Resources
Twitter: https://twitter.com/GLDL_Resources
Instagram: https://www.instagram.com/gold_line_resources/
LinkedIn:
https://www.linkedin.com/company/gold-line-resources-ltd
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Gold Line Resources Ltd.