Golden Predator Increases Private Placement to $8.8 Million
July 08 2019 - 8:00AM
Golden Predator Mining Corp. (TSX.V:GPY,
OTCQX:NTGSF) (the “
Company”) is pleased
to announce that due to strong investor demand, it has increased
the maximum offering of its private placement previously announced
on July 5, from 11 million flow-through shares to 18.6 million
flow-through shares. The Company is offering a total of up to
11.6 million charity flow-through shares at a price of $0.45 per
share, and 7 million traditional flow through shares at a price of
$0.38 per share. In addition, the Company is offering 3
million non-flow-through shares at a price of $0.32 per
share. Combined gross proceeds of the offerings totals up to
$8.84 million.
Janet Lee-Sheriff, Chief Executive Officer,
commented, “The response to the private placement illustrates the
favourable reaction from the financial community to the planned
restart of the Brewery Creek Mine in Canada’s Yukon. With gold
prices picking up, a low capex and short timeline to production
combined with the support of the Tr’ondek Hwech’in and Yukon
Government, Golden Predator will accelerate its activities and
advance the timelines at the Brewery Creek Mine."
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, the turnkey Brewery Creek Mine 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) 260-8435
info@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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