Golden Predator Announces $6 Million Private Placement; Eric Sprott to Purchase 5 Million Shares
July 05 2019 - 11:42AM
Golden Predator Mining Corp. (TSX.V:GPY,
OTCQX:NTGSF) (the “
Company”) is pleased
to announce a proposed private placement of up to 8 million charity
flow-through shares at a price of $0.45 per share. The Company is
also offering up to 4 million traditional flow through shares at
$0.38 per share and up to 3 million non-flow-through shares at a
price of $0.32 per share. Combined gross proceeds of the offerings
totals up to $6.08 million. Eric Sprott has agreed to acquire 5
million shares sold through the offering, which would increase his
total ownership to 13 million shares of the Company. No warrants
will be issued.
The Company has engaged Canaccord Genuity Corp.,
Clarus Securities Inc. and PowerOne Capital Markets Limited as
financial advisors in connection with the offerings. The Company
will pay fees to certain finders on a portion of the
offerings.
The proceeds of the private placement will be
applied to the Company’s Brewery Creek and 3 Aces projects and
general working capital. Closing of the private placement is
subject to TSX Venture Exchange approval.
Golden Predator Mining
Corp.Golden Predator is advancing the past-producing
Brewery Creek Gold Mine towards a timely resumption of mining
activities, under its valid Quartz Mining and Water Licenses, in
Canada’s Yukon. With established resources grading more than 1.0
g/t Gold and low capex to production in a safe first world
jurisdiction, Brewery Creek has a clear path to production as an
economically and environmentally proven project. Optimization
studies are progressing to enhance the already positive multi-phase
project economics described in the 2014 Preliminary Economic
Assessment(1). Drilling continues to expand the numerous open ended
resources and untested targets across the 186 km2 brownfield
property. At 3 Aces, Golden Predator continues to expand on
discoveries of native gold in quartz veins while ongoing bulk
sampling and processing at our 50 tpd Company-owned processing
plant has demonstrated gold recoveries of over 85% using a
chemical-free process. This green gold provides the gold for the
mintage of .9999 gold coins from the Yukon Mint™, a wholly-owned
subsidiary of Golden Predator.
For additional
information:
Janet Lee-Sheriff Chief Executive Officer (604)
260-8435info@goldenpredator.com www.goldenpredator.com
- NI 43-101 Technical Report on Preliminary Economic Assessment
for the Brewery Creek Property, Yukon Territory, Canada, Tetra-Tech
EBA dated November 19, 2014 (filed on SEDAR)
The securities referenced in this news release
have not and will not be registered under the U.S. Securities Act
of 1933 and may not be offered or sold in the United States absent
registration or an applicable exemption from registration
requirements. Neither 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.
No stock exchange, securities commission or
other regulatory authority has approved or disapproved the
information contained herein. This press release contains
forward-looking information that involve various risks and
uncertainties regarding future events. Such forward-looking
information can include without limitation statements express or
implied regarding completion of the private placement. Actual
results and future events could differ materially from those
anticipated in such information. These and all subsequent written
and oral forward-looking information are based on estimates and
opinions of management on the dates they are made and are expressly
qualified in their entirety by this notice. Except as required by
law, the Company assumes no obligation to update forward-looking
information should circumstances or management's estimates or
opinions change.
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