VANCOUVER, Dec. 4, 2018 /CNW/ - Goldplay
Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF) ("Goldplay" or the
"Company"), is pleased to announce that the Company has closed
the first tranche of its non-brokered private placement (the
"Offering") previously announced on November 19, 2018 and has issued 5,573,834 units
for gross proceeds of $1,226,243.48.
In connection with this closing, the Company paid finder's fees
totaling $47,653.93 cash and issued a
total of 216,608 finder's warrants. Each finder's warrant is
exercisable for one common share at a price of $0.25/share for two years, provided that after
the four month hold period expires, if for 10 consecutive days the
closing price of the Company's shares on the TSX-V exceeds
$0.65, then the Company may anytime
thereafter accelerate the expiry date of the Warrants to the date
that is 10 days following the date on which the Company issues
notice of the new expiry date.
All securities issued under this private placement are subject
to a four month and one day hold period in accordance with
applicable securities laws and the policies of the TSX Venture
Exchange.
Marcio Fonseca, President of the
Company stated: "We are very pleased to have completed the first
tranche of the private placement and we expect the final closing of
the private placement this week".
About Goldplay Exploration Ltd.
Goldplay owns a >250 sq. km exploration portfolio in the
historical Rosario Mining District, Sinaloa, Mexico. Goldplay's current
exploration focus includes surface exploration and drilling, with a
resource update to follow at the advanced-stage San Marcial Project
and follow up exploration program at the El Habal Project.
The San Marcial land package consists of 1,250 ha, located south
of the La Rastra and Plomosas
historical mines and 20 km from the Company's 100% owned El Habal
Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive,
near-surface high-grade silver, lead and zinc project for which a
historical resource estimate has been previously disclosed.
San Marcial exhibits significant exploration upside supported by
regional exploration programs completed by previous operators who
identified 14 exploration targets similar to San Marcial within its
100% Goldplay-owned concessions. Some of these exploration targets
consist of old shallow pits, caved shafts and historical
underground workings in areas with extensive hydrothermal
alteration, hosted by major regional structures.
The El Habal Project is a drilling stage project. The oxidized
gold mineralized zone outcrops along a series of rolling hills with
evidence of historical shallow underground mining along a 6 km long
prospective corridor. The El Habal Project is located near the
historical gold-silver Rosario Mine which reportedly operated for
over 250 years. Goldplay's team has over 30 years of experience
with senior roles in exploration, financing, and development in the
mining industry, including over ten years of extensive exploration
experience in the Rosario Mining District, leading to previous
successful discoveries. A current NI 43-101 report on the El Habal
Project is filed on SEDAR.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and
information that are based on the beliefs of management and reflect
the Company's current expectations. When used in this press
release, the words "estimate", "project", "belief", "anticipate",
"intend", "expect", "plan", "predict", "may" or "should" and the
negative of these words or such variations thereon or comparable
terminology are intended to identify forward-looking statements and
information. Such statements and information reflect the current
view of the Company. Risks and uncertainties may cause actual
results to differ materially from those contemplated in those
forward-looking statements and information. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. THE FORWARD-LOOKING INFORMATION CONTAINED IN
THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF
THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO
CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE
ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE GOLDPLAY MAY ELECT TO, IT
DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR
TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE
LAWS.
Mr. Marcio Fonseca,
P. Geo, President & CEO
Goldplay Exploration Ltd.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this press release.
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SOURCE Goldplay Exploration Ltd