Gold’n Futures Announces Private Placement Closes and Options and Restricted Share Units Granted
April 13 2022 - 2:30PM
Gold’n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M), (OTC: GFTRF)
(the "
Company” or “
Gold’n
Futures”) announces that the Company has closed a
non-brokered private placement of flow-through units (the
“
FT Offering”) and non-flow-through units (the
“
NFT Offering”) (together, the FT Offering and NFT
Offering are the “
Private Placement”) for combined
proceeds of $339,000.04 as set out below.
Flow-Through Offering
The Company has issued 2,238,462 units (the
"FT Units") at a price of $0.065 per FT Unit for
gross proceeds of $145,500. Each FT Unit consists of one
transferable warrant (each a “Warrant”) that is
exercisable to purchase one additional common share (each a
“Common Share”) at a price of $0.10 for a period
of two (2) years from closing. The Flow-Through Shares will qualify
as flow-through shares for purposes of the Income Tax Act
(Canada).
The gross proceeds of the FT Offering will be
used to complete exploration and drilling activities on the
Company’s Hercules Gold Project located in the Thunder Bay North
Mining District of Ontario, and other Canadian Exploration Expenses
that will qualify as "flow through mining expenditures" as defined
in subsection 127(9) of the Income Tax Act (Canada).
Non-Flow-Through Offering
The Company has issued 3,518,182
non-flow-through units (the "Units") at a price of
$0.055 per Unit for gross proceeds of $193,500. Each Unit consists
of one Common Share in the capital of the Company and one
transferable Warrant that is exercisable to purchase one additional
Common Share at a price of $0.10 for a period of two (2) years from
closing. The proceeds of the NFT Offering will be used for
exploration and general corporate purposes.
In connection with the Private Placement, the
Company has paid finder’s fee of $8,120.00 in cash, issued a total
of 70,000 finder’s warrants (“Finder’s Warrants”).
Each Finder’s Warrant is exercisable to acquire one additional
Common Share at a price of $0.10 per Warrant for a period of two
years from issuance.
All securities issued are subject to a statutory
four month and one day hold period that will expire August 13,
2022.
The Company also announces that, subject to
Canadian Securities Exchange approval and in accordance with the
Company's stock option plan, the Company has granted a total of
3,900,000 options to directors, officers, employees and consultants
of the Company. Each option is exercisable to purchase one Common
Share of the Company at $0.05 per share for a period of 5 years
from the date of issuance.
The Company also announces it has granted
2,000,000 restricted share units (“RSUs”) to
certain executive officers and senior employees of the Company
under the terms of the Company’s restricted share unit plan. Each
RSU entitles the holder to one Common Share of the Company or a
cash payment equal to the equivalent of one Common Share on
vesting.
About Gold’n Futures Mineral
Corp.
Gold’n Futures Mineral Corp. (CSE: FUTR) (FSE:
G6M) (OTC: GFTRF) is a Canadian based exploration company focused
on advancing its Hercules Project. The Hercules Project is located
200 kilometres northeast of Thunder Bay, Ont., in the townships of
Elmhirst and Rickaby, within the Thunder Bay North Mining District.
The Hercules Project is in the heart of the Beardmore – Geraldton
gold mining camp, the 4th largest gold camp in Canada and is 40 km
west of the Hardrock-Greenstone gold mine development. The Hercules
Project lies within an Archean greenstone belt that extends from
the Longlac area in the east to Lake Nipigon in the west, a
distance of about 130 kilometres and consists of 475 contiguous
claim cells (10,052 ha). From the historical work completed on the
Hercules Project, the Company has built an extensive database
including reconnaissance grab samples; channel samples; a variety
of geophysical surveys; and a drill hole database that includes
historical drilling totalling in the order of 537 holes with more
than 107,000 m of drill core. With surface grab samples grading up
10,374 g/t gold and channel samples up to 32.96 g/t gold across
11.6 m, the Hercules gold zones offer top tier targets for the
expansion of its historical resources.
For more information, please visit our website
at: www.goldnfuturesmineralcorp.com
For further information
Stephen WilkinsonPhone: 604-687-2038
Neither the Canadian Securities Exchange nor its
Market Regulator (as that term is defined in the policies of the
Canadian Securities Exchange) accepts responsibility for the
adequacy or accuracy of this release.
The Canadian Securities Exchange accepts
no responsibility for the adequacy or accuracy of this
release.
This news release may contain forward-looking
statements based on assumptions and judgments of management
regarding future events or results. Such statements are subject to
a variety of risks and uncertainties which could cause actual
events or results to differ materially from those reflected in the
forward-looking statements. There is no assurance the private
placement, property option, change of board or reinstatement of
trading referred to above will close on the terms as stated, or at
all. The Company disclaims any intention or obligation to revise or
update such statements.
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