Angus Gold Announces $3,297,000 Private Placement
February 22 2021 - 04:05PM
Angus Gold Inc. (TSX-V: GUS)
(“Angus” or the
“
Company”) is pleased to announce a non-brokered
private placement consisting of 2,800,000 flow-through shares
of the Company (“
FT Shares”) at a price of C$1.00
per FT Share and 700,000 hard dollar shares of the Company
(“
Hard Shares”
) at a price of
C$0.71 per Hard Share for aggregate gross proceeds of C$3,297,000
(the “
Financing”).
The net proceeds from the Financing will be used
to fund exploration on the Company’s projects in Ontario and for
working capital purposes. The Company has agreed to incur and
renounce in favour of the subscribers for the Flow-Through Shares
“Canadian exploration expenses” (within the meaning of the Income
Tax Act (Canada)) in an amount equal to the subscription price for
the Flow-Through Shares.
The closing of the Financing is expected to
occur on or about March 18, 2021 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.
About Angus Gold:Angus Gold is
a Canadian gold exploration company with a 234-square-kilometres
land package located in north-central Ontario approximately
50 kilometres west of the town of Wawa and lies between
Wesdome Gold Mines’ two producing mines.
ON BEHALF OF THE BOARD OF DIRECTORSAndrey
ShamisChief Executive Officer and Director
INQUIRIES:Email: info@angusgold.comCompany
Website: www.angusgold.com
TSXV: GUS | USOTC: ANGVF
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
Transaction, 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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