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HALIFAX, NS, March 8, 2022 /CNW/ - GoGold Resources
Inc. (TSX: GGD) ("GoGold" or the "Company") is pleased
to announce that it has closed its previously announced bought deal
offering (the "Offering") of 16,146,000 common shares (the
"Common Shares") at a price of C$2.85 per Common Share, for aggregate gross
proceeds of approximately C$46
million, including proceeds from the full exercise of the
over-allotment option to purchase an additional 2,106,000 Common
Shares.
The Offering was led by BMO Capital Markets, along with a
syndicate of underwriters including PI Financial Corp., Sprott
Capital Partners LP, Desjardins Securities Inc., Eight Capital, and
Echelon Wealth Partners Inc. (collectively, the
"Underwriters").
The Underwriters were paid a commission of 5.5% on the gross
proceeds of the Offering. The net proceeds of the offering
are intended to be used to support the continued advancement of the
Company's Los Ricos North and South projects.
The Offering was completed by way of short form prospectus in
each of the provinces of Canada,
except Québec, pursuant to National Instrument 44-101 – Short
Form Prospectus Distributions.
The securities offered in the Offering have not been registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), or any U.S. state securities laws,
and may not be offered or sold in the
"United States" (as such term is defined in Regulation S
promulgated under the U.S. Securities Act) absent registration or
an applicable exemption from the registration requirements of the
U.S. Securities Act and applicable U.S. state securities laws. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities in the United States, nor will there be any sale
of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About GoGold Resources
GoGold Resources (TSX: GGD)
(OTCQX: GLGDF) is a Canadian-based silver and gold producer focused
on operating, developing, exploring and acquiring high quality
projects in Mexico. The Company operates the Parral Tailings
mine in the state of Chihuahua and
has the Los Ricos South and Los Ricos North exploration projects in
the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of
low cost, high margin projects. For more information visit
gogoldresources.com.
CAUTIONARY STATEMENT:
This news release may contain "forward-looking information" as
defined in applicable Canadian securities legislation. All
statements other than statements of historical fact included in
this release constitute forward-looking information that
involve various risks and uncertainties. Forward-looking
information is based on a number of factors and assumptions which
have been used to develop such information but which may prove to
be incorrect, including, but not limited to, assumptions in
connection with the completion of the Offering, general economic
and market conditions, the intended use of proceeds from the
Offering, mineral prices and the accuracy of mineral resource
estimates. There can be no assurance that such
information will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
forward-looking information.
Important factors that could cause actual results to differ
materially from GoGold's expectations include exploration and
development risks associated with the GoGold's projects, the
failure to establish estimated mineral resources or mineral
reserves, volatility of commodity prices, variations of recovery
rates and global economic conditions. For additional information
with respect to risk factors applicable to GoGold, reference should
be made to GoGold's continuous disclosure materials filed from time
to time with securities regulators, including, but not limited to,
GoGold's Annual Information Form. The forward-looking information
contained in this release is made as of the date of this
release.
SOURCE GoGold Resources Inc.
