/THIS PRESS RELEASE, REQUIRED BY APPLICABLE
CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR
DISSEMINATION IN THE UNITED
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TSX-V: VEIN | FSE: N071
TORONTO, April 5, 2017 /CNW/ - Enforcer Gold Corp.
("Enforcer Gold" or the "Company") (TSX-V: VEIN, FSE: N071)
today announced its intent to complete a non-brokered private
placement financing (the "Offering") for gross proceeds of up to
$2 million.
Pursuant to the Offering, the Company expects to issue up to
4,000,000 flow-through shares ("Flow-Through Shares") at a price of
$0.25 per Flow Through Share for
gross proceeds of up to $1,000,000,
as well as, 5,000,000 units ("Units") at a price of $0.20 per Unit for gross proceeds of up to
$1,000,000. The proceeds from the
sale of Flow-Through Shares will be used for Canadian Exploration
Expenses (within the meaning of the Income Tax Act (Canada)) and will be renounced for the current
taxation year. Osisko Mining Inc. (TSX: OSK) will be
participating as a subscriber to this Offering.
Each Unit will consist of one common share in the capital of the
Company and one half of one common share purchase warrant (each
whole common share purchase warrant, (a "Unit Warrant"), with each
Unit Warrant being exercisable to acquire one common share of the
Company at a price of $0.30 for a
period of 24 months following the closing date of the Offering.
A finder's fee of cash and share purchase warrants or a
combination of both may be payable in connection with this Offering
which will not exceed the maximum allowable under the policies of
the TSX Venture Exchange. The offering and finder's fee are subject
to completion and execution of appropriate documentation and
acceptance for filing by the TSX Venture Exchange.
About Enforcer Gold Corp
Enforcer Gold Corp is earning a 100% interest in the 7300-square
hectare high-grade Montalembert gold project located west of
Chibougamau in Quebec's prolific Abitibi Greenstone Belt. The
project is very well situated only 5 kilometers from a paved
highway, hydro-electric power and with easy access to skilled
labour, fuel, food and accommodation it makes exploration costs
extremely low.
Two recent channel sample assays from the Galena vein, taken 20
meters apart along strike length, assayed 510.79 gpt Au over 1
meter and 118.79 gpt Au over 1 meter. Enforcer Gold has committed
over $2.2M to fund its 2017
exploration program which includes; data compilation, ground and
airborne geophysics, stripping of overburden, mapping, prospecting,
channel sampling, RC and diamond drilling.
On behalf of the Board of Directors
Enforcer Gold Corp.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
The TSX Venture Exchange has in no way passed upon the merits
of the proposed transactions and has neither approved nor
disapproved the contents of this press release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS
NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES, AND DOES NOT
CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL
ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT
BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATED
SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS,
AND MAY NOT BE OFFERED OR SOLD IN THE
UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT
THEREFROM.
SOURCE Enforcer Gold