/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO
U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
(In Canadian Dollars unless otherwise
VANCOUVER, BC, April 30, 2021 /CNW/ - Goldsource Mines Inc.
("Goldsource" or the "Company") is pleased to
announce that in connection with its previously announced bought
deal financing, the Company and Cormark Securities Inc. and Sprott
Capital Partners (collectively the "Underwriters") have
agreed to increase the size of the previously announced financing.
The Company will now issue 100,000,000 units of the Company (the
"Units) at a price of $0.11
per Unit (the "Offering Price") for gross proceeds of
C$11.0 million (the
"Offering"). The Company has also granted the Underwriters
an option to sell up to an additional 15,000,000 Units at the
offering price up to the closing of the Offering, which would
increase the aggregate gross proceeds to approximately C$12.7 million if exercised in full.
Each Unit will consist of one common share of the Company (a
"Common Share") and one-half of one Common Share purchase
warrant (each full warrant, a "Warrant"). Each Warrant will
entitle the holder to acquire one Common Share of the Company at an
exercise price of $0.14 for a period
of 24 months following the closing of the Offering.
The net proceeds from the Offering will be used for ongoing
exploration and pre-feasibility work at the Eagle Mountain Gold
Project in Guyana, working capital
and general corporate purposes.
The Offering is scheduled to close on or about May 20, 2021 and is subject to certain conditions
including, but not limited to, the receipt of all necessary
regulatory and other approvals including the approval of the TSX
Venture Exchange ("TSXV").
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities
Act"), or any state securities laws and may not be offered or
sold within the United States or
to or for the account or benefit of a U.S. person (as defined in
Regulation S under the U.S. Securities Act) unless registered under
the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
About Goldsource Mines Inc.
Goldsource Mines Inc. (www.goldsourcemines.com) is a Canadian
exploration company focussed on the 100%-owned Eagle Mountain gold
project in Guyana, South America. The Company is led by an
experienced management team, proven in making precious metals
exploration discoveries and executing on phased project development
in the Americas.
Goldsource Mines Inc.
CAUTIONARY STATEMENT AND FORWARD-LOOKING
This news release contains "forward-looking statements"
within the meaning of Canadian securities legislation. Such
forward–looking statements concern the closing of the Offering, use
of proceeds of the Offering, TSXV approval, Goldsource's strategic
plans, timing and expectations for the Company's exploration and
drilling programs at Eagle Mountain. Such forward–looking
statements or information are based on a number of assumptions,
which may prove to be incorrect. Assumptions have been made
regarding, among other things: conditions in general economic and
financial markets; accuracy of assay results and availability of
mining equipment; availability of skilled labour; timing and amount
of capital expenditures; performance of available laboratory and
other related services; and future operating costs. The actual
results could differ materially from those anticipated in these
forward–looking statements as a result of the risk factors
including: the timing and content of work programs; results of
exploration activities and development of mineral properties; the
interpretation of drilling results and other geological data; the
uncertainties of resource estimations; receipt, maintenance and
security of permits and mineral property titles; environmental and
other regulatory risks; project costs overruns or unanticipated
costs and expenses; availability of funds and general market and
industry conditions. Forward-looking statements are based on the
expectations and opinions of the Company's management on the date
the statements are made. The assumptions used in the preparation of
such statements, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date the statements were
made. The Company undertakes no obligation to update or revise any
forward-looking statements included in this news release if these
beliefs, estimates and opinions or other circumstances should
change, except as otherwise required by applicable law.
Neither TSX-V nor its Regulation Services Provider (as that
term is defined in policies of the TSX-V) accepts responsibility
for the adequacy or accuracy of this release.
SOURCE Goldsource Mines Inc.