TSX-V: VEIN
TORONTO, April 12, 2017 /CNW/ - Enforcer Gold
Corporation ("Enforcer" or the "Company") (TSX-V: VEIN FSE: N071)
is pleased to announce an increase of its previously announced
non-brokered private placement (as press released April 5, 2017) from $2
million to $4 million due to
increased demand from various funds and additional institutional
interest. The non-brokered private placement will consist of
up to 10,000,000 units (the "Units") and up to 8,000,000 common
shares to be issued on a "flow-through" basis (the "Flow-Through
Shares") (the "Offering"). Each Unit will be comprised of one
common share of the Company and one half of one common share
purchase warrant (the "Warrant").
The Units will be offered at a price of $0.20 per Unit and the Flow-Through Shares will
be offered at a price of $0.25 per
Flow-Through Share for aggregate gross proceeds of up to
$4 million. Each whole Warrant will
be exercisable for one common share of the Company for a period of
24 months from the closing date of the Offering at an exercise
price of $0.30. The proceeds from the
sale of the 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. The offering is subject to TSX
Venture Exchange approval.
About Enforcer Gold Corp
Enforcer Gold Corp is earning a 100% interest in the 7300
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