/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
TORONTO, Sept. 21,
2023 /CNW/ - Gold Line Resources Ltd. (TSXV:
GLDL) (OTCQB: TLLZF) ("Gold Line" or the "Company") is pleased to
announce a non-brokered private placement of up to 20,000,000 units
at a price of $0.10 per unit for
proceeds of up to $2,000,000 (the
"Financing") (all figures in the current release are in Canadian
dollars).
Each unit will consist of one common share and one-half of one
share purchase warrant (the "Units"). Each full warrant will
entitle the holder to purchase one common share at a price of
$0.20 per common share for a period
of twenty-four (24) months from the date of issuance (the
"Warrants"). The Warrants are subject to an acceleration right that
allows the Company to give notice of an earlier expiry date if the
Company's closing share price on the TSX Venture Exchange is
equal to or greater than $0.40 for a
period of twenty (20) consecutive trading days (the "Acceleration
Right").
The Company will pay a finder's fee of 6% on the gross proceeds
of the Financing from subscribers introduced by certain finders and
will issue such number of finder's warrants ("Finder's Warrants")
as is equal to 6% of the Units sold to subscribers introduced by
certain finders. Each Finder's Warrant will entitle the holder
thereof to purchase one common share of the Company (a "Finder's
Warrant Share") at a price of $0.20
per Finder's Warrant Share for a period of twenty-four (24) months
from the date of issuance. Finder's Warrants are subject to the
Acceleration Right as the Warrants.
Gold Line intends to use the proceeds from the Financing for
drilling and other exploration activities and general working
capital purposes.
All securities issued under the Financing are subject to TSX
Venture Exchange approval will be subject to a four month and one
day hold period after the date of closing.
ABOUT GOLD LINE RESOURCES
LTD.
Gold Line is focused on acquiring mineral properties with
exceptional exploration potential in the most prolific
gold-producing regions of Sweden
and Finland, both regarded as
top-tier mining jurisdictions and emerging exploration frontiers.
Both countries possess very prospective mineral endowments, stable
tenures, straightforward permitting, favorable tax regimes and
supportive geopolitical landscapes. Gold Line's Swedish projects
are located in the Gold Line Mineral Belt and Skellefteå Belt of
north-central Sweden and the
Mjøsa-Vänern Belt in the southwest. In Finland, Gold Line holds the entire
underexplored Oijärvi Greenstone Belt located in the north of the
country.
ON BEHALF OF THE BOARD OF DIRECTORS OF GOLD LINE RESOURCES
LTD.,
Taj Singh, M.Eng, P.Eng, CPA
President, CEO & Director
FOLLOW US:
Website:
https://www.goldlineresources.com/
Twitter: https://twitter.com/GLDL_Resources
LinkedIn: https://www.linkedin.com/company/gold-line-resources-ltd
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Note Regarding
Forward-Looking Statements:
This news release contains statements that constitute
"forward-looking statements." Such forward looking statements
involve known and unknown risks, uncertainties and other factors
that may cause Gold Line's actual results, performance or
achievements, or developments to differ materially from the
anticipated results, performance or achievements expressed or
implied by such forward-looking statements. Forward looking
statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects,"
"plans," "anticipates," "believes," "intends," "estimates,"
"projects," "potential" and similar expressions, or that events or
conditions "will," "would," "may," "could" or "should" occur.
SOURCE Gold Line Resources Ltd.
