Golden Predator Mining Corp. Announces Proposed Marketed Financing
April 21 2020 - 1:18PM
Golden Predator Mining Corp. (
TSXV:GPY)
(“
Golden Predator” or the
“
Company”) announces that it has filed a
preliminary short form prospectus (the
“
Prospectus”) with respect to a marketed offering
(the “
Offering”) of 10,000,000 units
(“
Units”) at a price of C$0.25 per Unit (the
“
Issue Price”). Each Unit consists of one
Class A common share (a “
Common Share”) of the
Company and one-half of one Common Share purchase warrant, with
each whole warrant (a “
Warrant”) exercisable for
one Common Share at an exercise price of C$0.35 for 36 months
following the completion of the Offering. Warrants are
subject to acceleration of the expiry date to 30 calendar days upon
notice provided to the warrant-holder by the Company in the event
that the volume weighted average price of the Common Shares is
equal to or higher than $0.75 for a period of 5 consecutive trading
days on the TSX Venture Exchange or other Canadian stock exchange
on which the Common Shares are principally traded.
The Offering will be conducted on a best efforts
agency basis under the terms of an agency agreement to be entered
into between the Company and Clarus Securities Inc. (the
“Agent”). On closing of the Offering the
Company has agreed to pay the Agent a cash fee equal to 7.0% of the
gross proceeds of the Offering. The Offering will be conducted in
the provinces of British Columbia, Alberta, and Ontario, and
in such other jurisdictions as are agreed to by the Company and the
Agent.
PowerOne Capital Markets Limited has been
appointed as special advisor to the Company.
The net proceeds raised from the sale of the
Units under the Offering will be used by the Company for the
completion of a feasibility level study to determine the parameters
for heap leach reprocessing at the Company’s Brewery Creek
Property, metallurgical column and geotechnical testing,
preparation of an updated mineral resource estimate for the Brewery
Creek Property, and for working capital and general corporate
purposes.
The Offering is expected to close on or about
May 12, 2020 and is subject to certain conditions including, but
not limited to the receipt of regulatory approvals and the approval
of the TSX Venture Exchange.
The securities being offered have not, nor will
they be registered under the United States Securities Act of 1933,
as amended, and may not be offered or sold within the United States
or to, or for the account or benefit of, U.S. persons in the
absence of U.S. registration or an applicable exemption from the
U.S. registration requirements. This release does not constitute an
offer for sale of securities in the United States.
ABOUT GOLDEN PREDATOR MINING
CORP.
Golden Predator is advancing the past-producing
Brewery Creek Mine towards a timely resumption of mining
activities, under its valid Quartz Mining and Water Licenses, in
Canada’s Yukon. With established resources grading over 1.0 g/t
Gold and both a technical report and feasibility level study
underway considering the economics of a restart of heap leach
operations at the Brewery Creek Mine, 2020 proves to be a pivotal
year for the Company. Drilling continues to expand the
open-ended resources and untested targets across the 180 km2
brownfield property located 55 km by road from Dawson City,
Yukon. The Company has a Socio-Economic Accord with the
Tr’ondëk Hwëch’in First Nation.
For further information:
Janet Lee-SheriffChief
Executive Officer604-260-0289info@goldenpredator.com
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 news release contains
"forward-looking information" which may include, but is not limited
to, statements with respect to the future financial or operating
performance of the Company and its projects. Often, but not always,
forward-looking statements can be identified by the use of words
such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes"
or variations (including negative variations) of such words and
phrases, or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements.
Forward-looking statements contained herein are made as of the date
of this press release and the Company disclaims any obligation to
update any forward-looking statements, whether as a result of new
information, future events or results or otherwise. There can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. The
closing of the Offering could be delayed if the Company is not able
to obtain the necessary regulatory and stock exchange approvals or
some other condition to the closing is not satisfied. There
is a risk that the Offering will not be completely sold, completed
within the anticipated time or at all. Additional information
on these and other factors that could affect the Company’s planned
operations and results are included in the Preliminary Prospectus,
including the documents incorporated by reference therein, and
reports on file with Canadian securities regulatory authorities and
may be accessed through the SEDAR website (www.sedar.com). The
Company undertakes no obligation to update forward-looking
statements if circumstances, management's estimates or opinions
should change, except as required by securities legislation.
Accordingly, the reader is cautioned not to place undue reliance on
forward-looking statements.
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