Golden Predator Completes $2.8 Million Offering
May 20 2020 - 11:17AM
Golden Predator Mining Corp. (TSX.V: GPY;
OTCQX: NTGSF) (the
“
Company” or “
Golden Predator”)
is pleased to announce that it has completed its previously
announced short form prospectus offering (the
“
Offering”) and has issued a total of 11,200,000
units (the “
Units”) at a price of $0.25 per Unit
for gross proceeds of $2.8 million. The Offering was fully
subscribed.
Each Unit consists of one Class A common share
(a “Common Share”) and one-half of one Common
Share purchase warrant. Each whole warrant is exercisable at
$0.35 per Common Share for a period of three years from closing,
subject to acceleration of the expiry date to the 30th calendar day
following notice to holders in the event that the volume weighted
average price of the Company’s 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 Company’s
shares are principally traded.
The Offering was completed pursuant to an agency
agreement dated May 13, 2020 among Clarus Securities Inc. as agent
(the “Agent”) and the Company. The Company
paid the Agent a cash fee equal to 7.0% of the gross proceeds of
the Offering.
The net proceeds raised from the sale of the
Units under the Offering will be used by the Company for the oxide
core development/metallurgy drilling on the Reserve and Classic
Trends at the Brewery Creek Property, bulk sampling, metallurgical
column and geotechnical testing, preparation of an updated mineral
resource estimate for the Brewery Creek Property, completion of a
mineral resource estimate on the material on the heap leach pad, a
feasibility study (subject to establishing a mineral resource on
the heap leach material) on reprocessing the material on the heap
leach pad at the Brewery Creek Property, and for working capital
and general corporate purposes.
PowerOne Capital Markets Limited also acted as a special advisor
to the Company.
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 additional information: Janet Lee-Sheriff Chief
Executive Officer (604) 260-0289 info@goldenpredator.com
www.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, other than as
required by law. 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. This news release contains forward-looking
statements and assumptions pertaining to the use of proceeds from
the Offering. Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors. Additional information
on these and other factors that could affect the Company’s planned
operations and results are included in the 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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