/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, Sept. 17, 2019 /CNW/ - Warrior Gold Inc.
(TSX-V - WAR) ("Warrior Gold" or the "Company") is
pleased to announce that it intends to complete a non-brokered
private placement financing for aggregate gross proceeds of up to
$1,500,000 (the "Offering").
The Offering will consist of the sale of flow-through units ("FT
Units") at $0.10 per FT Unit and
the sale of hard dollar units ("HD Units") at $0.09 per HD Unit.
Each FT Unit will consist of one flow-through common share and
one-half of one common share purchase warrant (a "FT Warrant") and
each HD Unit will consist of one common share and one-half of one
common share purchase warrant (a "HD Warrant") of the Company. Each
whole FT Warrant and HD Warrant will entitle the holder, on
exercise, to purchase one additional common share of the Company (a
"Warrant Share"), at a price of CDN $0.15 per Warrant Share until the close of
business on the day which is 12 months from the Closing Date,
subject to an accelerated expiry date. If at any time following the
expiry of the statutory four month hold period, the closing price
of the common shares on the TSX Venture Exchange is greater than
$0.30 for 20 or more consecutive
trading days, the Company may give notice to the holders of
Warrants that the expiry date of the Warrants will be accelerated
and the Warrants will expire on the 30th business day
following the date of such notice.
Danièle Spethmann, President and CEO of Warrior Gold commented,
"The proceeds of this financing will be utilized to fund a mapping,
trenching and sampling program, as well as a 3,500 metre drill
program. Field work is underway, and the drilling is anticipated to
start in October, or early November 2019. The drill program
will test the A Zone extensions and C Zone as identified by the
Company's spring 2019 diamond drilling program. As well,
exploration targets identified by the company's previous drilling
and compilation work will be tested."
Warrior Gold may pay finder's fees on a portion of the Offering
in accordance with applicable securities laws and the policies of
the TSXV. All securities issued under the Offering will be
subject to a four month and one day "hold period" under applicable
Canadian securities legislation.
The gross proceeds from the Offering will be used for Canadian
exploration expenses that will qualify as "flow-through mining
expenditures", as defined in the Income Tax Act (Canada). The Offering is subject to
approval of the TSXV.
The securities offered herein have not been and will not be
registered under the Securities Act of 1933, as amended (the
"Securities Act"), or under the securities laws of any state or
other jurisdiction of the United
States and may not be offered or sold, directly or
indirectly, within the United
States, unless the securities have been registered under the
Securities Act or an exemption from the registration requirements
of the Securities Act is available. This news release shall
not constitute an offer to sell or a solicitation of an offer to
buy any of these securities within any jurisdiction, including
the United States.
About Warrior Gold Inc.
Warrior Gold is a TSX Venture Exchange listed Company that owns
the Goodfish-Kirana Property located five km from the town of
Kirkland Lake, Ontario. The
Property is located in the historic Kirkland Lake Gold Camp which is situated in the
prolific Abitibi Greenstone Belt, recognized as one of the world's
highest grade greenstone belts with over 200 million ounces of gold
produced to date.
The Goodfish-Kirana Property is 11.5 km long by roughly three km
wide (34 km2) and contains three major structural
trends: the east-west trending Kirana Deformation Zone; the
northeast trending Goodfish Deformation Zone; and the Victoria
Creek Deformation Zone on the recently acquired Sutton claims on the northeast side of the
property. The Property contains numerous historical gold showings,
as well as 18 historical pits and shafts.
For additional information please contact:
Danièle Spethmann, P.Geo.
President & CEO
Warrior Gold Inc.
+1 647 344-3433
dspethmann@warriorgoldinc.com
Malcolm Burke
Director
Warrior Gold Inc.
+1 604 220-2000
mburke@warriorgoldinc.com
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.
Forward-Looking Statements: This press
release contains forward-looking statements. Forward-looking
statements are frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate",
"may", "will", "would", "potential", "proposed" and other similar
words, or statements that certain events or conditions "may" or
"will" occur. The forward-looking statements are based on certain
key expectations and assumptions made by the Company. Although
Warrior Gold believes that the expectations and assumptions on
which the forward-looking statements are based are reasonable,
undue reliance should not be placed on the forward-looking
statements because Warrior Gold can give no assurance that they
will prove to be correct. Since forward-looking statements address
future events and conditions, by their very nature they involve
inherent risks and uncertainties. Actual results could differ
materially from those currently anticipated due to a number of
factors and risks. In addition to other risks that may affect the
forward-looking statements in this press release are those set out
in the Company's Management Discussion and Analysis of the
financial condition and results of operations for the year ended
March 31, 2019 and the first quarter
ended June 30, 2019, which are
available at www.sedar.com. The forward-looking statements
contained in this press release are made as of the date hereof and
Warrior Gold undertakes no obligation to update publicly or revise
any forward-looking statements or information, whether as a result
of new information, future events or otherwise, unless so required
by applicable securities laws.
This press release does not constitute an offer, invitation
or recommendation to subscribe for or purchase any securities and
neither this press release nor anything contained in it shall form
the basis of any contract or commitment. In particular, this press
release does not constitute an offer to sell, or a solicitation of
an offer to buy, securities in the United
States, or in any other jurisdiction in which such an offer
would be illegal.
SOURCE Warrior Gold Inc.
