VANCOUVER, Feb. 21, 2019 /CNW/ - Warrior Gold Inc.
(TSX-V - WAR) ("Warrior Gold" or the "Company") is
pleased to announce that it has closed the first tranche (the
"First Tranche Closing") of its previously announced
non-brokered private placement offerings of Units, each Unit priced
at $0.07 and comprising one common
share ("Common Share") and one-half common share purchase warrant
and Flow Through Shares priced at $0.10. Under the First Tranche Closing, the
Company has raised $310,755 through
the issuance of 3,839,356 Units and 420,000 Flow Through
Shares. Each whole Warrant entitles the holder thereof to
purchase one Common Share at an exercise price of $0.15 for a period of 12 months from the date of
the First Tranche Closing, provided that, if at any time following
the expiry of the four month hold period the closing price of the
shares is greater than $0.30 for 20
or more consecutive trading days, the Company may give notice to
the Warrant holders that the expiry date of the Warrants will be
accelerated and that the Warrants will expire on the
30th business day following the date of notice.
The Company paid finders fees of $11,560.40 and issued 65,431 broker warrants
which have the same terms as the financing warrants.
The securities issued to this first closing are subject to a
hold period of four months and a day from the date of closing. The
Private Placement is subject to final approval by the TSX Venture
Exchange.
The net proceeds from the Unit offering will be used for
exploration and general corporate purposes and the gross proceeds
from the Flow-Through Share offering will be used for Canadian
Exploration Expenses and will qualify as "flow-through mining
expenditures", as defined in the Income Tax Act (Canada).
Neither the 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.
SOURCE Warrior Gold Inc.
