VANCOUVER, May 19, 2016 /CNW/ - Intact Gold Corp. (TSX-V:
ITG) (FSE: 1A5) (the "Company" or "Intact Gold"), is pleased to
announce that the company has closed its previously announced
non-brokered private placement (news release dated April 25, 2016).
The private placement consisted of the issuance of 2.8 million
units at a price of 12.5 cents per
unit for gross proceeds of $350,000.
Each unit comprises one common share and one-half of one common
share purchase warrant. Each whole warrant entitles the holder to
acquire one additional common share until May 17, 2018 at a price of 17.5 cents.
In connection with closing of the private placement, the Company
paid certain finder's fees: $2,812.50
cash and 32,900 purchase warrants (the "Finder's Warrants"). Each
Finder's Warrant entitles the holder to purchase one additional
common share at a price of $0.175
until May 17, 2018.
The securities issued under the private placement are subject to
a hold period expiring on September 18th,
2016.
Proceeds of the placement will be applied to the Company's
properties and to general working capital.
All securities issued in connection with the offering will be
subject to a statutory hold period of four months plus a day from
the date of issuance in accordance with applicable securities law.
The offering is subject to a number of conditions, including
receipt of all necessary corporate and regulatory approvals,
including approval of the TSX-V.
ON BEHALF OF THE BOARD OF DIRECTORS OF INTACT GOLD
CORP.
Per: Anthony Jackson,
President and CEO
Disclaimer for Forward-Looking Information
Except for statements of historical fact, this news release
contains certain "forward-looking information" within the meaning
of applicable securities law. Forward-looking information is
frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions
"may" occur. Forward-looking information in this press release
includes, but is not limited to, statements regarding expectations
of management regarding the acquisition of the Property. Although
the Company believes that the expectations reflected in the
forward-looking information are reasonable, there can be no
assurance that such expectations will prove to be correct. Such
forward-looking information is subject to risks and uncertainties
that may cause actual results, performance or developments to
differ materially from those contained in the statements including,
without limitation, the risks that the Company may not have the
funds necessary to make its payments pursuant to the Agreement,
that the TSX-V may not approve the transaction, and other factors
beyond the control of the Company. Except as required by law, the
Company expressly disclaims any obligation, and does not intend, to
update any forward-looking information in this news release.
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 release.
SOURCE Intact Gold Corp
