Avidian Gold Corp. (“
Avidian” or the
“
Company”) (TSX-V: AVG) wishes to provide an
update to the previously announced (see July 6, 2020 news release)
private placement of units of the Company
(“
Units”) at $0.10 per Unit for gross proceeds of
up to $2,500,000 (the “
Offering”). Each Unit will
consist of one common share of the Company (a “
Common
Share”) and one Common Share purchase warrant (a
“
Warrant”) exercisable into a Common Share at a
price of $0.14 for twenty-four (24) months following the issuance
of Warrants. The terms of the Warrants restrict the exercise of the
Warrants in a manner that causes the warrant holder to hold 20% or
more of Common Shares without having previously obtained required
approvals in accordance with the policies of the TSX Venture
Exchange.
The Company advises that it has now received
subscriptions for the entirety of the Offering, including a
subscription from Mr. Eric Sprott. The Company expects to close the
Offering next week.
The net proceeds from the Offering shall be
primarily used for the development of Avidian’s mineral properties
and for general and administrative expenses.
The Offering is conditional upon receipt of
required regulatory approvals, including the final approval of the
TSX Venture Exchange. The securities issued pursuant to the
Offering will be subject to a four months and a day statutory hold
period in accordance with applicable Canadian securities laws.
Pursuant to the Offering, Mr. Sprott through
2176423 Ontario Ltd., a corporation that is beneficially owned by
him, will acquire 20,000,000 Units for a total consideration of
$2,000,000. Subsequent to the closing of the Offering, Mr. Sprott
will beneficially own or control 20,000,000 Common Shares and
20,000,000 Warrants representing approximately 16.75% of the issued
and outstanding Common Shares on a non-diluted basis and
approximately 28.69% of the issued and outstanding Common Shares on
a partially diluted basis assuming exercise of the Warrants. Prior
to the Offering, Mr. Sprott did not beneficially own or control any
securities of the Company.
The Units were acquired by Mr. Sprott for
investment purposes. Mr. Sprott has a long-term view of the
investment and may acquire additional securities of Avidian
including on the open market or through private acquisitions or
sell securities of Avidian including on the open market or through
private dispositions in the future depending on market conditions,
reformulation of plans and/or other factors that Mr. Sprott
considers relevant from time to time. For the purposes of this
notice, the address of Mr. Sprott is 200 Bay Street, Suite 2600,
Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1.
In satisfaction of the requirements of the
National Instrument 62-104 – Take-Over Bids and Issuer Bids and
National Instrument 62-103 – The Early Warning System and Related
Take-Over Bid and Insider Reporting Issues, an Early Warning report
respecting the acquisition of Units by and a copy of the early
warning report may also be obtained by calling Mr. Sprott’s office
at (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza,
South Tower, Toronto, Ontario M5J 2J1).
About Avidian Gold Corp.
Avidian brings a disciplined and veteran team of
project managers together with a regional scale advanced stage
gold-copper exploration portfolio in Alaska. Avidian’s Golden Zone
project also hosts a NI 43-101 Indicated gold resource of 267,400
ounces (4,187,000 tonnes at 1.99 g/t Au) plus an Inferred gold
resource of 35,900 ounces (1,353,000 tonnes at 0.83 g/t Au).
Additional projects include the Amanita gold property which is
adjacent to Kinross Gold’s Fort Knox gold mine in Alaska and the
Jungo gold/copper property in Nevada.
The information in respect of the Golden Zone
project is adopted from the Technical Report on the Golden Zone
Property, August 17, 2017, L. McGarry P.Geo & I. Trinder P.Geo,
A.C.A Howe International Ltd (the “Technical
Report”).
Avidian is the majority owner of High Tide
Resources, a private company with an option on the Labrador West
iron ore property and owns the base metal Strickland Property and
the Black Raven gold property, all located in Newfoundland and
Labrador, Canada.
Avidian is focused on and committed to the
development of advanced stage mineral projects throughout first
world mining friendly jurisdictions using industry best practices
combined with a strong social license from local communities.
Further details on the Corporation and the individual projects,
including the NI 43-101 Technical report on the Golden Zone
property, can be found on the Corporation’s website at
www.avidiangold.com.
The technical information in this news release
has been approved by Steve Roebuck, P.Geo and President of Avidian
Gold, who is a Qualified Person as defined in National Instrument
43-101 - Standards of Disclosure for Mineral Projects.
For further information, please contact: Steve
Roebuck, PresidentE: sroebuck@avidiangold.com or +1(905) 741-5458E:
info@avidiangold.com
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 news release.
Forward-looking information
This News Release includes certain
"forward-looking statements". These statements are based on
information currently available to the Company and the Company
provides no assurance that actual results will meet management's
expectations. 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 Offering,
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,
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. These and other factors
should be considered carefully and readers should not place undue
reliance on the Company's forward-looking statements. The Company
does not undertake to update any forward-looking statement that may
be made from time to time by the Company or on its behalf, except
in accordance with applicable securities law.
Avidian Gold (TSXV:AVG)
過去 株価チャート
から 10 2024 まで 11 2024
Avidian Gold (TSXV:AVG)
過去 株価チャート
から 11 2023 まで 11 2024