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.
不得在美國境內傳播或分發給美國新聞通訊社
多倫多,2023年3月30日(環球通訊社)--Golden Tag Resources Ltd.黃金標籤“或”公司“)(多倫多證券交易所股票代碼:GOG)很高興地宣佈,它已經完成了第一批(”第一批“)其先前宣佈的非經紀私募(The”供奉“)的認購收據(每張收據”認購收據“)。根據第一批款項收到的總收益,加上根據本公司所作認購承諾而將收到的收益總額,合共為570萬美元。
本次發行正在完成,與之前宣佈的收購(“交易記錄)位於墨西哥杜蘭戈州的La Parrilla銀礦綜合體(La Parrilla“)(詳情請參閱日期為2022年12月7日的新聞稿。)。
認購收據
認購收據是根據認購收據協定(“訂閱收據協定“)由Marrelli Trust Company Limited與本公司訂立。託管解除條件(定義見下文)載於《認購回執協定》,並規定如在解約截止日期(定義見下文)當日或之前未能滿足託管解除條件,則認購收據將被取消,認購收據代理人須將託管資金連同按比例分配給認購收據持有人的利息分配予認購收據持有人。
出售認購收據的總收益,減去在第一批交易結束時應支付的任何發起人手續費和費用,將以第三方託管形式保存,等待某些條件的滿足或豁免,包括交易完成前的所有條件(託管解除條件在2023年8月15日下午5:00(多倫多時間)或根據《認購收據協定》(《認購收據協定》)確定的較晚日期之前或之前滿足或豁免(視情況而定)託管解除條件發佈截止日期每張認購收據將交換為一個單位(在某些情況下可能會進行調整)。交易仍受若干條件的制約,包括但不限於:(I)由於交易設立新的控制人而獲得公司股東的批准;(Ii)收到所有必要的同意、批准和授權(包括多倫多證券交易所創業板(TSX)的批准TSXV“)和墨西哥反壟斷委員會);(3)完成以900萬加元的總收益進行要約;以及(4)這類交易的慣例條件。
每個單位由一股公司普通股組成(A)普通股)及一份普通股認購權證的一半(每份完整認股權證,一份搜查令每份完整認股權證可於認購收據交換日期起計36個月內,按每股普通股0.34加元的價格行使,以收購一股普通股。
有關產品的其他資訊
該公司打算將此次發行的淨收益用於La Parrilla的鑽探和勘探專案、持有成本、重新啟動的技術工作、交易成本以及營運資本和一般公司用途。
認購收據是根據適用證券法下的招股說明書要求豁免以私募方式提供的。根據此次發行發行和可發行的證券將自交易完成之日起有四個月零一天的持有期。
關於第一次付款,本公司同意向某些符合資格的按公平計算的當事人(每一方支付一筆“查找器“):(1)最高7%的現金費用;(2)在滿足託管釋放條件後,發行最高7%的發現者認股權證,使持有人有權以0.20加元的價格收購一股普通股,為期24個月。
發行的證券尚未根據修訂後的《1933年美國證券法》或適用的州證券法進行註冊,在沒有註冊或豁免此類註冊要求的情況下,不得向美國境內的個人發行或出售。本新聞稿不應構成出售要約或徵求購買要約,也不應在任何司法管轄區出售任何此類要約、徵求或出售將是非法的證券。
關於Golden Tag Resources
金泰格資源有限公司是一家總部位於多倫多的礦產資源勘探公司。該公司在墨西哥杜蘭戈的聖地亞哥專案中持有100%的權益,但須有2%的NSR。聖地亞哥礦產是墨西哥最大的未開發白銀資產之一,位於多產的Velardeña礦區內。Velardeña擁有幾個生產銀、鋅、鉛和黃金的礦山,已有100多年的歷史。有關聖地亞哥酒店的更多資訊,請訪問我們的網站。
如需更多資訊,請聯繫:
格雷格·麥肯齊,總裁首席執行官
電話:416-504-2024
郵箱:greg.mckenzie@Golddentag.ca
TSXV及其監管服務提供商(該術語在TSXV的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
多倫多證券交易所創業板交易所公司沒有以任何方式忽略這筆交易的優點,也沒有批准或不批准本新聞稿的內容。
有關前瞻性陳述的注意事項:
本新聞稿中的某些陳述具有前瞻性,涉及許多風險和不確定因素。此類前瞻性陳述符合加拿大證券管理人的《國家文書51-102--持續披露義務》中‘前瞻性資訊’一詞的含義。前瞻性陳述不包含歷史事實。前瞻性陳述包括描述公司未來計劃、目標或目標的估計和陳述,包括公司或管理層預期將出現的情況或結果的表述。前瞻性陳述可以用“相信”、“預期”、“預期”、“估計”、“可能”、“將”或“計劃”等術語來識別。由於前瞻性陳述以假設為基礎,涉及未來的事件和情況,因此它們本身就具有內在的風險和不確定性。雖然這些陳述是基於公司目前掌握的資訊,但公司不能保證實際結果將符合管理層的期望。前瞻性資訊涉及的風險、不確定性和其他因素可能導致實際事件、結果、業績、前景和機會與此類前瞻性資訊明示或暗示的情況大不相同。本新聞稿中的前瞻性資訊包括但不限於,按本文所述條款完成交易和發售的能力(或如果有的話),獲得必要的公司和監管批准的能力,包括但不限於交易和發售獲得多倫多證券交易所的批准,完成發售項下的認購承諾,公司使用發售的淨收益,以及支付與發售相關的舉報人費用。
在做出包含在本新聞稿中的前瞻性陳述時,公司應用了幾個重大假設,包括公司́的財務狀況和發展計劃不會因為不可預見的事件而改變,未來的金屬價格以及金屬的需求和市場前景將保持穩定或改善,管理層執行其業務戰略的能力,獲得所有必要的批准,交易的所有完成條件的滿足,發售的結束,以及關於La Parrilla的任何意外或不利的監管變化。前瞻性陳述和資訊受各種已知和未知風險和不確定因素的影響,其中許多風險和不確定因素超出公司的控制或預測能力,可能導致公司́的實際結果、業績或成就與明示或暗示的結果、業績或成就大不相同,這些風險、不確定因素和其他因素是基於對本文所述風險、不確定因素和其他因素的假設而制定的,這些因素包括但不限於公司無法按照公司預期的條款完成交易或發售的風險、公司無法獲得必要的公司和監管部門批准的風險。包括但不限於多倫多證券交易所、墨西哥政府和股東的批准,上述假設被證明不有效或可靠的風險,市場狀況和波動性,以及全球經濟狀況,包括新冠肺炎疫情持續或升級導致的波動性增加和潛在的負面融資條件,計劃工作推遲和/或停止的風險,或公司́財務狀況和發展計劃的變化;與解釋數據有關的風險(包括與第三方礦化材料有關的風險),涉及礦藏的地質、品位和連續性,礦藏的地質、品位和連續性的不確定性,以及礦產資源、品位和(或)回收率意外變化的風險;與金、銀和其他商品價格波動有關的風險;僱員關係;與當地社區和土著居民的關係和主張;與採礦投入和勞動力有關的可獲得性和不斷增加的成本;礦產勘探和開發的投機性,包括獲得必要的許可證和許可證的風險以及可能對採礦施加限制的法律和條例的存在;與環境法規和責任相關的風險;結果可能與公司́的預期不一致。
這些前瞻性資訊代表了管理層́根據目前可獲得的資訊做出的最佳判斷。任何前瞻性陳述都不能保證,未來的實際結果可能大不相同。因此,建議讀者不要過度依賴前瞻性陳述或資訊。