Vancouver, British Columbia (FSCwire) - Golden Predator Mining Corp. (TSX.V: GPY) (the “Company”) is pleased to announce that due to increased investor demand, it is increasing its previously announced private placement (see news release dated June 27th, 2016) from up to C$13.8 million to C$16.7 million. The offering will now consist of 10,547,945 Non-Flow Through Units (the “Non-Flow Through Units”) of the Company at a price of C$0.73 per Non-Flow Through Unit for gross proceeds of C$7.7 million and 9,000,000 Flow Through Units (the “Flow Through Units” and collectively with the Non-Flow Through Units referred to herein as the “Units”) of the Company at a price of C$1.00 per Flow Through Unit for gross proceeds of C$16.7 million. Each Unit consists of one common share of the Company and one half of one common share purchase warrant (“Warrant”).
Each full Warrant will entitle the holder to purchase one additional common share of the Company at a price of C$1.00 per share for a period of two years from the closing date. The expiry date of the warrants can be accelerated if the Company’s VWAP is C$2.50 for 20 consecutive trading days, in which event the Company may give notice that the warrants expire 30 days following the notice of acceleration.
The proposed brokered private placement financing is co-led by Clarus Securities Inc. and PowerOne Capital Markets Limited and includes a syndicate of GMP Securities L.P. and Canaccord Genuity Group Inc.
Proceeds from the financing will be applied to the Company’s 3 Aces and Brewery Creek projects and general working capital.
Closing of the private placement is subject to TSX Venture Exchange approval and other standard closing conditions.
Golden Predator Mining Corp.
Golden Predator Mining Corp., a Canadian gold mineral exploration company, is focused on advancing its high grade 3 Aces Project and the Brewery Creek project, a past producing heap leach gold operation in Canada’s Yukon.
For additional information:
Janet Lee-Sheriff
Chief Executive Officer
(214) 304-9552
info@goldenpredator.com
www.goldenpredator.com
The securities referenced in this news release have not and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. This news release contains forward-looking statements and assumptions pertaining to the offering and the use of proceeds. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/GoldenPredatorJuly62016.pdfSource: Golden Predator Mining Corp (TSX Venture:GPY) http://www.goldenpredator.com
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