/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, Sept. 24, 2018 /CNW/ - Medgold Resources
Corp. (TSXV: MED) announces that it proposes, subject to stock
exchange approval, to complete a non-brokered private placement
financing of up to approximately 3.33 million units at $0.30 per unit, for proceeds of up to
$1.0 million. Each unit will consist
of one common share and one full warrant, each warrant entitling
the holder to purchase one additional common share of the Company
at $0.40 for two years from
closing. The warrants will be subject to an acceleration
provision such that if the closing price of the Company's shares
for 10 consecutive trading days is $0.60 or greater, the Company may give notice to
the holders of the warrants that the warrants will expire 30
calendar days after receipt of such notice. The Company may pay a
finder's fee on a portion of this financing.
The proceeds of the placement are intended to be used for
exploration of the Company's 100% owned Ljubata Project in Serbia,
project generation and for general working capital purposes.
The securities referred to in this news release
have not been, and will not be, registered under the United
States Securities Act of 1933, as amended, and may not be offered
or sold in the United States
or to, or for the account or benefit of, U.S. persons
absent registration or an applicable exemption from the
registration requirements of such Act. This
news release shall not constitute an offer to
sell, nor the solicitation of an offer to
buy, any securities. Any public offering of securities in
the United States must be made by
means of a prospectus containing detailed information about the
company and management, as well as financial statements.
About Medgold Resources Corp.
Medgold is a Serbia-focused, TSX-V listed, project generator
company targeting early-stage gold properties in the Oligo-Miocene
Belt of Serbia. Run by an experienced management team with a
successful track-record of building value in resource companies,
Medgold is aiming to become a leading European gold exploration
company.
Additional information on Medgold can be found on the
Company's website at www.medgoldresources.com and by
reviewing the Company's page on SEDAR at
www.sedar.com.
ON BEHALF OF THE BOARD
"Dan James"
Daniel P.
James, President & Director
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this
release.
Forward-looking statements
Certain statements contained in this news release constitute
forward-looking statements within the meaning of Canadian
securities legislation. All statements included herein, other than
statements of historical fact, are forward-looking statements and
include, without limitation, statements about the proposed private
placement, and the Company's projects. Often, but not always, these
forward looking statements can be identified by the use of words
such as "estimate", "estimates", "estimated", "potential", "open",
"future", "assumed", "projected", "used", "detailed", "has been",
"gain", "upgraded", "offset", "limited", "contained", "reflecting",
"containing", "remaining", "to be", "periodically", or statements
that events, "could" or "should" occur or be achieved and similar
expressions, including negative variations.
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 results, performance or achievements expressed
or implied by forward-looking statements. Such uncertainties
and factors include, among others, whether the private
placement will be completed as planned, and whether the Company
will spend the financing proceeds as intended; the exploration
plans for the Company's projects; changes in general economic
conditions and financial markets; the Company or any joint venture
partner not having the financial ability to meet its exploration
and development goals; risks associated with the results of
exploration and development activities, estimation of mineral
resources and the geology, grade and continuity of mineral
deposits; unanticipated costs and expenses; and such other risks
detailed from time to time in the Company's quarterly and annual
filings with securities regulators and available under the
Company's profile on SEDAR at www.sedar.com. Although the Company
has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results to differ from those
anticipated, estimated or intended.
Forward-looking statements contained herein are based on the
assumptions, beliefs, expectations and opinions of management,
including but not limited to: that the proposed exploration of the
Tlamimo Project will proceed as intended; that the Company
will complete the private placement as planned, and spend the
financing proceeds as intended; that the Company's stated goals and
planned exploration and development activities will be achieved;
that there will be no material adverse change affecting the Company
or its properties; and such other assumptions as set out herein.
Forward-looking statements are made as of the date hereof 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, except 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. Accordingly, investors should not place undue
reliance on forward-looking statements.
SOURCE Medgold Resources Corp.