/NOT FOR DISSEMINATION IN OR INTO
Each FT Unit was comprised of one common share of the
The Offering was conducted pursuant to the amendments to National Instrument 45-106 – Prospectus Exemptions ("NI 45-106") set forth in Part 5A thereof (the "Listed Issuer Financing Exemption") to purchasers resident in
The gross proceeds from the sale of FT Units will be used for exploration expenses on the Company's Wingdam gold project in
The Company paid the Agent a 6.5% cash commission based on the aggregate gross proceeds from the Offering, subject to a reduction for certain orders on a "president's list". The Company also granted the Agent, on the date of hereof (the "Closing Date"), non-transferable broker warrants (the "Broker Warrants") equal to 6.5% of the total number of FT Units sold pursuant to the Offering, subject to a reduction for certain orders on the "president's list". Each Broker Warrant entitles the holder thereof to purchase one unit of the Company (comprised of a Common Share and a Warrant) at an exercise price of
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in
Neither
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the expectation that the Offering will close in the timeframe and on the terms as anticipated by management. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or 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" or the negative connation thereof. These forward–looking statements or information relate to, among other things: the intended use of proceeds from the Offering and the incurrence of Qualifying Expenditures.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company will use the gross proceeds of the Offering as expected and in the timeframe anticipated by management. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to market conditions and timeliness of regulatory approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
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