Warrior Gold Announces $500,000 Offering
June 20 2022 - 07:40AM
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Warrior Gold Inc. (TSX-V - WAR) (“Warrior Gold” or the
“Company”) is pleased to announce a non-brokered private
placement to raise up to $500,000 through the issuance of a
combination of common share units (the “Units”) and
flow-through share units (the “FT Units”) of the Company at
a price of $0.05 per Unit and $0.07 per FT Unit (the
“Offering”). Each Unit will comprise one common share and
one-half common share purchase warrant (each whole common share
purchase warrant, a “Warrant”), and in the case of the FT
Units, one flow-through share, and a Warrant (as defined above).
Each Warrant will entitle the holder to purchase one additional
common share in the capital of the Company for a period of 12
months from the date of closing of the Offering, at a purchase
price of $0.10 per common share, provided, however, that, if, at
any time following the statutory four month hold period, the
closing price of the common shares of the Company on the TSX
Venture Exchange is greater than $0.20 for 20 or more consecutive
trading days, the Warrants will be accelerated and will expire on
the 30th business day following the date of such notice.
The Company may pay finders’ fees on a portion of the Offering
in accordance with applicable securities laws and the policies of
the TSX Venture Exchange. All securities issued under the Offering
will be subject to a four month and one day “hold period” under
applicable Canadian securities legislation.
The Offering is subject to approval of the TSX Venture
The proceeds from the sale of the Units will be utilized by the
Company for working capital and general corporate purposes and the
proceeds from the sale of the FT Units and Charity FT Units will be
used by the Company to incur eligible "Canadian exploration
expenses" that will qualify as "flow-through mining expenditures"
as such terms are defined in the Income Tax Act (Canada) related to
the Company's properties located in Kirkland Lake, Ontario.
About Warrior Gold Inc.
Warrior Gold is a TSX Venture Exchange-listed company that has
consolidated a significant and prospective land package in the
Kirkland Lake Gold Camp in Ontario, Canada. The properties are
hosted in the Abitibi Greenstone Belt, one of the world’s
best-endowed greenstone belts with +200 million ounces of gold
produced to date1. The properties are host to regional and
property-scale mineralized structures that are considered to be
second order structures off the Larder Lake Cadillac Deformation
Zone – LLCDZ – the regional structure in the belt known to be
spatially associated with the gold mines hosted in the camp.
The properties assembled include: the 100%-owned
Goodfish-Kirana, the Arnold property and the recently optioned KL
West (KLW) and KL Central (KLC). Warrior Gold’s land position in
the Kirkland Lake Gold Camp comprises approximately 21,469 ha, over
480 claims and 29 patented claims and ranks the company as one of
the largest landholders in the Kirkland Lake region.
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, 2021 and the
third quarter ended December 31, 2021 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.
version on businesswire.com: https://www.businesswire.com/news/home/20220620005119/en/
For additional information:
Danièle Spethmann, P.Geo. President & CEO Warrior Gold Inc.
+1 647 344-3433 email@example.com
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