NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
TORONTO, March 30, 2023 (GLOBE NEWSWIRE) -- Golden Tag Resources Ltd. ("Golden Tag" or the "Company") (TSX.V: GOG) is pleased to announce that it has closed the first tranche (the "First Tranche") of its previously announced non-brokered private placement (the "Offering") of subscription receipts (each a "Subscription Receipt"). The gross proceeds received under the First Tranche combined with those to be received pursuant to subscription commitments secured by the Company will result in aggregate gross proceeds of $5.7 million.
This Offering is being completed in connection with the previously announced acquisition (the "Transaction") of the La Parrilla Silver Mine Complex in Durango State, Mexico ("La Parrilla") (as more fully described in the press release dated December 7, 2022 available at ).
Subscription Receipts
The Subscription Receipts were issued pursuant to the terms of a subscription receipt agreement (the "Subscription Receipt Agreement") entered into between Marrelli Trust Company Limited and the Company. The Escrow Release Conditions (as defined below) are set forth in the Subscription Receipt Agreement and provide that if the Escrow Release Conditions are not satisfied on or before the Release Deadline (as defined below), then the Subscription Receipts shall be cancelled and the subscription receipt agent shall distribute the escrowed funds to the holders of the Subscription Receipts, together with their pro rata share of interest earned thereon.
The gross proceeds from the sale of the Subscription Receipts, less any finders' fees and expenses payable on closing of the First Tranche, are being held in escrow pending satisfaction or waiver of certain conditions, including all conditions to the closing of the Transaction (the "Escrow Release Conditions"). Upon satisfaction or waiver (as applicable) of the Escrow Release Conditions on or prior to 5:00 p.m. (Toronto time) on August 15, 2023, or such later date as may be determined in accordance with the Subscription Receipt Agreement (the "Release Deadline") each Subscription Receipt will be exchanged for one Unit (subject to adjustment in certain events). The Transaction remains subject to a number of conditions, including, but not limited to: (i) the approval of the Company's shareholders as a result of the Transaction creating a new control person; (ii) the receipt of all necessary consents, approvals and authorizations (including approval of the TSX Venture Exchange (the "TSXV") and the Mexican Antitrust Commission) for the Transaction; (iii) the completion of the Offering for gross proceeds of CAD$9.0 million; and (iv) other conditions which are customary for a transaction of this type.
Each Unit consists of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant shall be exercisable to acquire one Common Share at a price of C$0.34 per Common Share for a period of 36 months from the date of the exchange of the Subscription Receipts.
Other Information Regarding the Offering
The Company intends to use the net proceeds of the Offering to fund drilling and exploration programs at La Parrilla, holding costs, technical work for restart, transaction costs and for working capital and general corporate purposes.
The Subscription Receipts were offered by way of private placement pursuant to exemptions from prospectus requirements under applicable securities laws. The securities issued and issuable pursuant to the Offering will be subject to a four month and one-day hold period from the date of closing.
In connection with the First Tranche, the Corporation, agreed to pay certain eligible arm's length parties (each a "Finder"): (1) up to 7% cash fees; and (2) issue upon satisfaction of the Escrow Release Conditions, up to 7% finder's warrants entitling the holder to acquire one Common Share at a price of C$0.20 for a period of 24 months.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold to persons in the United States absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Golden Tag Resources
Golden Tag Resources Ltd. is a Toronto based mineral resource exploration company. The Company holds a 100% interest, subject to a 2% NSR, in the San Diego Project, in Durango, Mexico. The San Diego property is among the largest undeveloped silver assets in Mexico and is located within the prolific Velardeña Mining District. Velardeña hosts several mines having produced silver, zinc, lead and gold for over 100 years. For more information regarding the San Diego property please visit our website at .
For additional information, please contact:
Greg McKenzie, President & CEO
Ph: 416-504-2024
greg.mckenzie@goldentag.ca
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
TSX Venture Exchange Inc. has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release.
Cautionary Note Regarding Forward Looking Statements:
Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of the phrase 'forward-looking information' in the Canadian Securities Administrators' National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. 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 completion of Transaction and the Offering on the terms described herein (or if at all), the ability to obtain requisite corporate and regulatory approvals, including, but not limited to, the approval from the TSXV for the Transaction and the Offering, the completion of subscription of subscription commitments under the Offering, the Company's use of the net proceeds of the Offering, and the payment of a finders' fee in connection with the Offering.
In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including that the Company ́s financial condition and development plans do not change because of unforeseen events, that future metal prices and the demand and market outlook for metals will remain stable or improve, management's ability to execute its business strategy, the receipt of all necessary approvals, the satisfaction of all closing conditions of the Transaction, the closing of the Offering, and no unexpected or adverse regulatory changes with respect to La Parrilla. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company ́s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk that the Company is not able to complete the Transaction or the Offering on the terms anticipated by the Company (or at all), the risk that the Company is unable to obtain requisite corporate and regulatory approvals, including but not limited to the approval of the TSXV, the Mexican government, and shareholder approval, the risk that the assumptions referred to above prove not to be valid or reliable, market conditions and volatility and global economic conditions including increased volatility and potentially negative capital raising conditions resulting from the continued or escalation of the COVID-19 pandemic, risk of delay and/or cessation in planned work or changes in the Company ́s financial condition and development plans; risks associated with the interpretation of data (including in respect of third party mineralized material) regarding the geology, grade and continuity of mineral deposits, the uncertainty of the geology, grade and continuity of mineral deposits and the risk of unexpected variations in mineral resources, grade and/or recovery rates; risks related to gold, silver and other commodity price fluctuations; employee relations; relationships with and claims by local communities and indigenous populations; availability and increasing costs associated with mining inputs and labour, the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits and the presence of laws and regulations that may impose restrictions on mining; risks relating to environmental regulation and liability; the possibility that results will not be consistent with the Company ́s expectations.
Such forward-looking information represents management ́s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
不得在美国境内传播或分发给美国新闻通讯社
多伦多,2023年3月30日(环球通讯社)--Golden Tag Resources Ltd.黄金标签“或”公司“)(多伦多证券交易所股票代码:GOG)很高兴地宣布,它已经完成了第一批(”第一批“)其先前宣布的非经纪私募(The”供奉“)的认购收据(每张收据”认购收据“)。根据第一批款项收到的总收益,加上根据本公司所作认购承诺而将收到的收益总额,合共为570万美元。
本次发行正在完成,与之前宣布的收购(“交易记录)位于墨西哥杜兰戈州的La Parrilla银矿综合体(La Parrilla“)(详情请参阅日期为2022年12月7日的新闻稿。)。
认购收据
认购收据是根据认购收据协议(“订阅收据协议“)由Marrelli Trust Company Limited与本公司订立。托管解除条件(定义见下文)载于《认购回执协议》,并规定如在解约截止日期(定义见下文)当日或之前未能满足托管解除条件,则认购收据将被取消,认购收据代理人须将托管资金连同按比例分配给认购收据持有人的利息分配予认购收据持有人。
出售认购收据的总收益,减去在第一批交易结束时应支付的任何发起人手续费和费用,将以第三方托管形式保存,等待某些条件的满足或豁免,包括交易完成前的所有条件(托管解除条件在2023年8月15日下午5:00(多伦多时间)或根据《认购收据协议》(《认购收据协议》)确定的较晚日期之前或之前满足或豁免(视情况而定)托管解除条件发布截止日期每张认购收据将交换为一个单位(在某些情况下可能会进行调整)。交易仍受若干条件的制约,包括但不限于:(I)由于交易设立新的控制人而获得公司股东的批准;(Ii)收到所有必要的同意、批准和授权(包括多伦多证券交易所创业板(TSX)的批准TSXV“)和墨西哥反垄断委员会);(3)完成以900万加元的总收益进行要约;以及(4)这类交易的惯例条件。
每个单位由一股公司普通股组成(A)普通股)及一份普通股认购权证的一半(每份完整认股权证,一份搜查令每份完整认股权证可于认购收据交换日期起计36个月内,按每股普通股0.34加元的价格行使,以收购一股普通股。
有关产品的其他信息
该公司打算将此次发行的净收益用于La Parrilla的钻探和勘探项目、持有成本、重新启动的技术工作、交易成本以及营运资本和一般公司用途。
认购收据是根据适用证券法下的招股说明书要求豁免以私募方式提供的。根据此次发行发行和可发行的证券将自交易完成之日起有四个月零一天的持有期。
关于第一次付款,本公司同意向某些符合资格的按公平计算的当事人(每一方支付一笔“查找器“):(1)最高7%的现金费用;(2)在满足托管释放条件后,发行最高7%的发现者认股权证,使持有人有权以0.20加元的价格收购一股普通股,为期24个月。
发行的证券尚未根据修订后的《1933年美国证券法》或适用的州证券法进行注册,在没有注册或豁免此类注册要求的情况下,不得向美国境内的个人发行或出售。本新闻稿不应构成出售要约或征求购买要约,也不应在任何司法管辖区出售任何此类要约、征求或出售将是非法的证券。
关于Golden Tag Resources
金泰格资源有限公司是一家总部位于多伦多的矿产资源勘探公司。该公司在墨西哥杜兰戈的圣地亚哥项目中持有100%的权益,但须有2%的NSR。圣地亚哥矿产是墨西哥最大的未开发白银资产之一,位于多产的Velardeña矿区内。Velardeña拥有几个生产银、锌、铅和黄金的矿山,已有100多年的历史。有关圣地亚哥酒店的更多信息,请访问我们的网站。
如需更多信息,请联系:
格雷格·麦肯齐,总裁首席执行官
电话:416-504-2024
邮箱:greg.mckenzie@Golddentag.ca
TSXV及其监管服务提供商(该术语在TSXV的政策中定义)均不对本新闻稿的充分性或准确性承担责任。
多伦多证券交易所创业板交易所公司没有以任何方式忽略这笔交易的优点,也没有批准或不批准本新闻稿的内容。
有关前瞻性陈述的注意事项:
本新闻稿中的某些陈述具有前瞻性,涉及许多风险和不确定因素。此类前瞻性陈述符合加拿大证券管理人的《国家文书51-102--持续披露义务》中‘前瞻性信息’一词的含义。前瞻性陈述不包含历史事实。前瞻性陈述包括描述公司未来计划、目标或目标的估计和陈述,包括公司或管理层预期将出现的情况或结果的表述。前瞻性陈述可以用“相信”、“预期”、“预期”、“估计”、“可能”、“将”或“计划”等术语来识别。由于前瞻性陈述以假设为基础,涉及未来的事件和情况,因此它们本身就具有内在的风险和不确定性。虽然这些陈述是基于公司目前掌握的信息,但公司不能保证实际结果将符合管理层的期望。前瞻性信息涉及的风险、不确定性和其他因素可能导致实际事件、结果、业绩、前景和机会与此类前瞻性信息明示或暗示的情况大不相同。本新闻稿中的前瞻性信息包括但不限于,按本文所述条款完成交易和发售的能力(或如果有的话),获得必要的公司和监管批准的能力,包括但不限于交易和发售获得多伦多证券交易所的批准,完成发售项下的认购承诺,公司使用发售的净收益,以及支付与发售相关的举报人费用。
在做出包含在本新闻稿中的前瞻性陈述时,公司应用了几个重大假设,包括公司́的财务状况和发展计划不会因为不可预见的事件而改变,未来的金属价格以及金属的需求和市场前景将保持稳定或改善,管理层执行其业务战略的能力,获得所有必要的批准,交易的所有完成条件的满足,发售的结束,以及关于La Parrilla的任何意外或不利的监管变化。前瞻性陈述和信息受各种已知和未知风险和不确定因素的影响,其中许多风险和不确定因素超出公司的控制或预测能力,可能导致公司́的实际结果、业绩或成就与明示或暗示的结果、业绩或成就大不相同,这些风险、不确定因素和其他因素是基于对本文所述风险、不确定因素和其他因素的假设而制定的,这些因素包括但不限于公司无法按照公司预期的条款完成交易或发售的风险、公司无法获得必要的公司和监管部门批准的风险。包括但不限于多伦多证券交易所、墨西哥政府和股东的批准,上述假设被证明不有效或可靠的风险,市场状况和波动性,以及全球经济状况,包括新冠肺炎疫情持续或升级导致的波动性增加和潜在的负面融资条件,计划工作推迟和/或停止的风险,或公司́财务状况和发展计划的变化;与解释数据有关的风险(包括与第三方矿化材料有关的风险),涉及矿藏的地质、品位和连续性,矿藏的地质、品位和连续性的不确定性,以及矿产资源、品位和(或)回收率意外变化的风险;与金、银和其他商品价格波动有关的风险;雇员关系;与当地社区和土著居民的关系和主张;与采矿投入和劳动力有关的可获得性和不断增加的成本;矿产勘探和开发的投机性,包括获得必要的许可证和许可证的风险以及可能对采矿施加限制的法律和条例的存在;与环境法规和责任相关的风险;结果可能与公司́的预期不一致。
这些前瞻性信息代表了管理层́根据目前可获得的信息做出的最佳判断。任何前瞻性陈述都不能保证,未来的实际结果可能大不相同。因此,建议读者不要过度依赖前瞻性陈述或信息。