21:00:15 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Gold Standard Ventures Corp
Symbol GSV
Shares Issued 208,618,738
Close 2016-09-23 C$ 3.11
Market Cap C$ 648,804,275
Recent Sedar Documents

Gold Standard acquires 6.12M Battle Mountain shares

2016-09-23 16:26 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD VENTURES CORP. INCREASES STRATEGIC INVESTMENT IN BATTLE MOUNTAIN GOLD

Effective on Sept. 22, 2016, and pursuant to a previously announced agreement, Gold Standard Ventures Corp. has acquired ownership of 5,240,717 common shares of Battle Mountain Gold Inc. upon the exercise of share purchase warrants at a price of 37 cents per share for a total subscription price of $1,939,065.29 (see news release of June 16, 2016).

Also, in keeping with a previously announced agreement, Gold Standard has acquired ownership of an additional 885,468 common shares of Battle Mountain at a price of 47 cents per share in settlement of $416,169.71 advanced by Gold Standard on Battle Mountain's behalf to finance a partial buy-down of a third party royalty on gold and silver over Battle Mountain's Lewis gold project in Lander county, Nevada (see Battle Mountain news release of June 16, 2016).

As a result of the foregoing, Gold Standard has increased its ownership interest to 16,607,620 common shares, or approximately 28.18 per cent of Battle Mountain's issued and outstanding common shares. Immediately prior to the above acquisitions, Gold Standard owned 10,481,435 common shares, or 19.85 per cent of the then-issued and outstanding shares of Battle Mountain.

The above common shares were acquired by Gold Standard as principal for investment purposes from Battle Mountain's treasury in reliance upon certain exemptions from the prospectus requirements of applicable securities legislation in National Instrument 45-106, prospectus exemptions. Gold Standard has no present intention to acquire further securities of Battle Mountain, although Gold Standard may in the future and in accordance with applicable securities laws, increase or decrease its investment in Battle Mountain by acquiring or disposing of other securities of Battle Mountain, through the market, privately or otherwise, depending on market conditions or any other relevant factors.

Gold Standard has agreed to vote its shares of Battle Mountain in accordance with the recommendations of Battle Mountain's board of directors until Nov. 6, 2017, and give Battle Mountain prior notice of any sales of shares exceeding 2 per cent of Battle Mountain's then-issued and outstanding shares in any 15-day period for so long as Gold Standard owns not less than 9.9 per cent of Battle Mountain's issued and outstanding shares.

A report respecting this acquisition will be electronically filed with the applicable securities commission in each jurisdiction where Battle Mountain is reporting and will be available for viewing through the Internet on SEDAR. A copy of the report may also be obtained from the company upon request to Richard Silas, corporate secretary, telephone -- 604-669-5702.

About Gold Standard Ventures

Gold Standard is an advanced-stage gold exploration company focused on district-scale discoveries on its Railroad-Pinion gold project, located within the prolific Carlin trend. The Pinion deposit now has a National Instrument 43-101 resource estimate consisting of an indicated mineral resource of 31.61 million tonnes grading 0.62 gram per tonne gold, totalling 630,300 ounces of gold and an inferred resource of 61.08 million tonnes grading 0.55 gram per tonne Au, totalling 1,081,300 ounces of gold, using a cut-off grade of 0.14 gram per tonne Au. The Dark Star deposit, 2.1 kilometres to the east of Pinion, has an NI 43-101 resource estimate consisting of an inferred resource of 23.11 million tonnes grading 0.51 gram per tonne Au, totalling 375,000 ounces of gold, using a cut-off grade of 0.14 gram per tonne Au (announced on March 3, 2015).

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Steven R. Koehler, Gold Standard's manager of projects, BSc geology and CPG-10216, a qualified person as defined by NI 43-101, standards of disclosure for mineral projects.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.