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Angold Resources Ltd (2)
Symbol	AAU
Shares Issued	14,470,526
Close 2023-11-07	C$ 0.09
Market Cap	C$ 1,302,347
Recent Sedar+ Documents

Angold Resources closes $844,000 private placement

2023-11-07 16:30 ET - News Release

Subject: Angold Resources Press Release for Dissemination PDF Document File: Attachment 2023.11.07 - Angold - News Release - Private Placement Close FINAL.pdf Angold Resources Closes Private Placement Vancouver, British Columbia November 7th, 2023 Angold Resources Ltd. ("Angold" or the "Company") (TSXV: AAU) (OTCQB: AAUGF) (Frankfurt: 13L) announces the closing of its non-brokered private placement financing raising gross proceeds of $844,000 through the issuance of 16,880,000 shares at a price of $0.05 (the "Offering"). All securities issued under the Offering are subject to a statutory hold period until March 8, 2024, in accordance with applicable securities laws. No finders' fees were paid in connection with the Offering. This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws. The Company also announces that it has settled outstanding indebtedness (the "Indebtedness") of $90,000 owing to certain arms-lengths parties and an officer of the Company in connection with working capital loans made to the Company, and a further $61,000 in indebtedness owing to certain officer's and service providers of the Company in consideration for services previously rendered to the Company. The Company has settled the Indebtedness through the issuance of 3,020,000 common shares at a deemed price of $0.05 per share. The settlement of $91,000 of the Indebtedness constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The issuance to related parties is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company's shares are not listed on a specified market. The issuance to related parties is expected to be exempt from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101, in that the fair market value of the consideration for the securities issued to the related parties does not exceed 25% of the Company's market capitalization. All securities issued in settlement of the Indebtedness are subject to a statutory hold period until March 8, 2024, in accordance with applicable securities laws. Qualified Person The technical content of this news release has been reviewed and approved by Galen McNamara, P. Geo., the interim CEO of the Company and a qualified person as defined by National Instrument 43- 101. About Angold Resources Ltd. Angold is an exploration and development company targeting large-scale mineral systems worldwide. The Company's assets include projects in Chile and Canada. The Dorado Project in Chile features a major porphyry-gold system where drill results include 302 m at 0.71 g/t Au. The Cordillera Project in Chile is strategically located between two multi-million ounce gold deposits and features multiple gold exploration targets. The Uchi Project in Canada is prospective for base and precious metal mineralization. ON BEHALF OF THE BOARD OF DIRECTORS "Galen McNamara" Galen McNamara, Chairman and Interim CEO Further information on Angold can be found on the Company's website at www.angoldresources.com and at www.sedar.com, or by contacting the Company by email at investors@angoldresources.com Neither the 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. Forward-Looking Statements: This news release contains forward-looking statements and forward- looking information within the meaning of applicable securities laws. These statements relate to future events or future performance and include expectations regarding the use of proceeds from the Offering. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions. Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. The Company undertakes no obligation to update forward-looking information except as required by applicable law. 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.