Angus Ventures Announces Flow-Through Private Placement
June 09 2020 - 4:00PM
Angus Ventures Inc. (TSX-V: GUS)
(“Angus” or the “
Company”) is
pleased to announce a non-brokered private placement up to
6,000,000 flow-through common shares (the “
FT Common
Shares”) of the Company at a price of $0.441 per FT Common
Share for gross proceeds of up to $2,646,000 (the
“
Financing”).
The gross proceeds from the Financing will be
used to fund Canadian Exploration Expenses (within the meaning of
the Income Tax Act (Canada)) which shall qualify as "flow-through
mining expenditures", for purposes of the Income Tax Act (Canada),
related to the Company's Golden Sky Project in Wawa, Ontario.
The closing of the Financing is expected to
occur on or about June 30, 2020 and is subject to the
receipt of regulatory approvals, including the
approval of the TSX Venture Exchange (the “TSXV”).
The securities to be issued under the Offering will have a hold
period of four months and one day from closing.
In connection with the Financing, the Company
may pay a finder's fees to qualified finders in consideration for
their assistance with the Financing. The finder’s fees may be
payable in cash or securities of Angus at the discretion of the
Company and in accordance to the rules of the TSXV.
About Angus Ventures:Angus
Ventures is a Canadian gold exploration company focused on
advancing the Golden Sky Project in Ontario. The
197-square-kilometres land package is located in north-central
Ontario approximately 50 kilometres west of the town of Wawa
and lies between Wesdome Gold Mines’ two producing mines.
For more information, please
contact:Patrick LangloisPresident and Chief Executive
OfficerAngus Ventures Inc.info@angusgoldinc.com
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This News Release includes certain
"forward-looking statements" which are not comprised of historical
facts. Forward-looking statements include estimates and statements
that describe the Company’s future plans, objectives or goals,
including words to the effect that the Company or management
expects a stated condition or result to occur. Forward-looking
statements may be identified by such terms as “believes”,
“anticipates”, “expects”, “estimates”, “may”, “could”, “would”,
“will”, or “plan”. Since forward-looking statements are based on
assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Although
these statements are based on information currently available to
the Company, the Company provides no assurance that actual results
will meet management’s expectations. Risks, uncertainties and other
factors involved with forward-looking information could cause
actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such
forward-looking information. Forward looking information in this
news release includes, but is not limited to, the Company’s
objectives, goals or future plans, statements, exploration results,
potential mineralization, the estimation of mineral resources,
exploration and mine development plans, timing of the commencement
of operations and estimates of market conditions. Factors that
could cause actual results to differ materially from such
forward-looking information include, but are not limited to: the
ability to anticipate and counteract the effects of COVID-19
pandemic on the business of the Company, including without
limitation the effects of COVID-19 on the capital markets,
commodity prices supply chain disruptions, restrictions on labour
and workplace attendance and local and international travel,
failure to receive requisite approvals in respect of the Financing,
failure to identify mineral resources, failure to convert estimated
mineral resources to reserves, the inability to complete a
feasibility study which recommends a production decision, the
preliminary nature of metallurgical test results, delays in
obtaining or failures to obtain required governmental,
environmental or other project approvals, political risks,
inability to fulfill the duty to accommodate First Nations and
other indigenous peoples, uncertainties relating to the
availability and costs of financing needed in the future, changes
in equity markets, inflation, changes in exchange rates,
fluctuations in commodity prices, delays in the development of
projects, capital and operating costs varying significantly from
estimates and the other risks involved in the mineral exploration
and development industry, and those risks set out in the Company’s
public documents filed on SEDAR. Although the Company believes that
the assumptions and factors used in preparing the forward-looking
information in this news release are reasonable, undue reliance
should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that
such events will occur in the disclosed time frames or at all. The
Company disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by
law.
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