06:45:35 EDT Sun 05 May 2024
Enter Symbol
or Name
USA
CA



Vangold Mining Corp (2)
Symbol VAN
Shares Issued 45,514,089
Recent Sedar Documents

ORIGINAL: Vangold to close $707,500 third tranche this month

2019-11-20 13:00 ET - News Release

Received by email:

File: Attachment 2019Nov20_Up_Dates_CSE_Debt.pdf

  Vangold Mining Provides Up-Dates on its Private Placement, Debt Settlement
          and Proposed Listing on the Canadian Securities Exchange

November 20, 2019   Vancouver, British Columbia   Vangold Mining Corp. (the "Company" or
"Vangold") (TSXV:VAN) provides the following up-dates:

Private Placement

By news release dated March 13, 2019 the Company announced a private placement of $500,000 or
10,000,000 units at a price of $0.05 per unit, which private placement was increased to $700,000 or
14,000,000 units on March 28, 2019 and further increased to $1,200,000 or 24,000,000 units on October
10, 2019. Each unit consists of one common share of the Company and one share purchase warrant;
each warrant entitling the holder to purchase an additional common share at a price of $0.10 within two
years of closing.

On March 28, 2019, the Company closed the first tranche of the private placement for gross proceeds of
$335,000, consisting of 6,700,000 units at a price of $0.05 per unit. A finder's fee of $9,450 was paid
with respect to the first tranche and all securities issued thereunder were subject to a 4 month hold
period that expired on July 29, 2019.

On May 13, 2019, the Company closed the second tranche of the private placement for gross proceeds
of $247,975.00, consisting of 4,959,500 units at a price of $0.05 per unit. A finder's fee of $14,248 cash
and 284,950 warrants was paid in connection with the second tranche and all securities issued
thereunder were subject to a four month hold period that expired on September 14, 2019.

Subject to acceptance of the TSX Venture Exchange (the "TSXV"), the Company anticipates closing a
third and final tranche of the private placement this month for gross proceeds of $707,500, consisting of
14,150,000 units at a price of $0.05 per unit. There are no finders' fees payable in connection with the
third tranche and all securities issued thereunder will be subject to a 4 month hold period.

Upon final closing of the private placement, Vangold will have issued an aggregate of 25,809,500 units
for aggregate gross proceeds of $1,290,475. The net proceeds from the private placement are being
used to, among other things, reduce payables, restructure the Company's affairs (see below) and for
general working capital and corporate purposes.

Debt Settlement

The Company also announces that in an effort to preserve cash for current operations it has entered
into debt settlement agreements with two creditors, including the settlement of $10,000 in
 management fees with an executive officer of the Company. In total, the Company has agreed to issue
an aggregate of 403,640 common shares at a deemed price of $0.05 per share to settle indebtedness of
$20,182.

The debt settlement is subject to acceptance of the TSXV and all shares issued thereunder will be
subject to a four month hold period from the date of issue.

Listing on the Canadian Securities Exchange

On December 17, 2018, the Company's common shares were halted from trading on the TSXV in
connection with the announcement of a proposed reverse takeover transaction involving Aventura Gold
Ltd. and the Tassawini gold project located in Guyana, South America. The Company has subsequently
determined not to proceed with such transaction and is currently undergoing a restructuring of its
affairs including certain changes to its board of directors as announced on October 10, 2019 and
October 24, 2019, a working capital private placement as detailed above and refocusing on the
Company's existing El Pinguico gold and silver project located approximately 7 kilometres south of
Guanajuato, Mexico as more particularly described in the Company's news release of October 10, 2019.
As part of such restructuring, the Company proposes to apply for a listing of its common shares on the
Canadian Securities Exchange (the "CSE") and delist from the TSXV. The Board believes that moving the
Company's listing from the TSXV to the CSE will assist the Company to reduce its listing and transaction
fees as well as facilitate and streamline the Company's ability to perform its corporate activities and
carry out future business transactions. The Company has called its 2019 annual general meeting for
December 11, 2019 to seek shareholder approval for, among other things, the listing of the Company's
shares on the CSE.

About Vangold Mining Corp.

Vangold Mining is an exploration company engaged in the exploration of mineral projects in the
Guanajuato region of central Mexico. The Company's flagship El Pinguico project is a significant past
producer of high-grade gold and silver and is located just 7km south of the city of Guanajuato, Mexico.
The Company remains focused on the near-term potential for development and monetization of both its
surface and underground stockpiles of mineralized material from El Pinguico.

ON BEHALF OF THE BOARD OF DIRECTORS
"James Anderson"
Chairman and CEO

For further information regarding Vangold Mining Corp, please contact:
James Anderson, Director, +1 (778) 989-5346
Email: james@vangoldmining.com
 Continue to Follow, Like and Watch our progress: Web: www.vangoldmining.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 certain forward-looking statements, which relate to future events or future performance (in
--->cluding,
but not limited to, the closing of the final tranche of the Company's non-brokered private placement and the timing an
--->d final
amount thereof, the potential for near term development and monetization of existing stockpiles of mineralized materia
--->l at the
Company's El Pinguico project in Mexico, and the future listing of the Company's common shares on the CSE) and reflect
management's current expectations and assumptions. Such forward-looking statements reflect management's current belief
--->s
and are based on assumptions made by and information currently available to the Company. Readers are cautioned that th
--->ese
forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may ca
--->use
future results to differ materially from those expected including, but not limited to, market conditions, availability
---> of financing,
currency rate fluctuations, actual results of exploration and development activities, environmental risks, future pric
--->es of gold,
silver and other metals, operating risks, accidents, labor issues, delays in obtaining governmental or regulatory appr
--->ovals and
permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qual
--->ified by
these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These
forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or
revise them to reflect new events or circumstances save as required by applicable law.
 

Word Document

File: Attachment 2019Nov20_Up_Dates_CSE_Debt.docx

Vangold Mining Provides Up-Dates on its Private Placement, Debt Settlement and Proposed Listing on the Canadian Securi
--->ties Exchange

November 20, 2019 - Vancouver, British Columbia - Vangold Mining Corp. (the "Company" or "Vangold") (TSXV:VAN) provide
--->s the following up-dates:
Private Placement
By news release dated March 13, 2019 the Company announced a private placement of $500,000 or 10,000,000 units at a pr
--->ice of $0.05 per unit, which private placement was increased to $700,000 or 14,000,000 units on March 28, 2019 and fur
--->ther increased to $1,200,000 or 24,000,000 units on October 10, 2019.  Each unit consists of one common share of the C
--->ompany and one share purchase warrant; each warrant entitling the holder to purchase an additional common share at a p
--->rice of $0.10 within two years of closing.  
On March 28, 2019, the Company closed the first tranche of the private placement for gross proceeds of $335,000, consi
--->sting of 6,700,000 units at a price of $0.05 per unit.  A finder's fee of $9,450 was paid with respect to the first tr
--->anche and all securities issued thereunder were subject to a 4 month hold period that expired on July 29, 2019.
On May 13, 2019, the Company closed the second tranche of the private placement for gross proceeds of $247,975.00, con
--->sisting of 4,959,500 units at a price of $0.05 per unit.  A finder's fee of $14,248 cash and 284,950 warrants was paid
---> in connection with the second tranche and all securities issued thereunder were subject to a four month hold period t
--->hat expired on September 14, 2019.
Subject to acceptance of the TSX Venture Exchange (the "TSXV"), the Company anticipates closing a third and final tran
--->che of the private placement this month for gross proceeds of $707,500, consisting of 14,150,000 units at a price of $
--->0.05 per unit.  There are no finders' fees payable in connection with the third tranche and all securities issued ther
--->eunder will be subject to a 4 month hold period.
Upon final closing of the private placement, Vangold will have issued an aggregate of 25,809,500 units for aggregate g
--->ross proceeds of $1,290,475.  The net proceeds from the private placement are being used to, among other things, reduc
--->e payables, restructure the Company's affairs (see below) and for general working capital and corporate purposes.
Debt Settlement 
The Company also announces that in an effort to preserve cash for current operations it has entered into debt settleme
--->nt agreements with two creditors, including the settlement of $10,000 in management fees with an executive officer of 
--->the Company.  In total, the Company has agreed to issue an aggregate of 403,640 common shares at a deemed price of $0.
--->05 per share to settle indebtedness of $20,182.  
The debt settlement is subject to acceptance of the TSXV and all shares issued thereunder will be subject to a four mo
--->nth hold period from the date of issue.
Listing on the Canadian Securities Exchange
On December 17, 2018, the Company's common shares were halted from trading on the TSXV in connection with the announce
--->ment of a proposed reverse takeover transaction involving Aventura Gold Ltd. and the Tassawini gold project located in
---> Guyana, South America. The Company has subsequently determined not to proceed with such transaction and is currently 
--->undergoing a restructuring of its affairs including certain changes to its board of directors as announced on October 
--->10, 2019 and October 24, 2019, a working capital private placement as detailed above and refocusing on the Company's e
--->xisting El Pinguico gold and silver project located approximately 7 kilometres south of Guanajuato, Mexico as more par
--->ticularly described in the Company's news release of October 10, 2019. As part of such restructuring, the Company prop
--->oses to apply for a listing of its common shares on the Canadian Securities Exchange (the "CSE") and delist from the T
--->SXV. The Board believes that moving the Company's listing from the TSXV to the CSE will assist the Company to reduce i
--->ts listing and transaction fees as well as facilitate and streamline the Company's ability to perform its corporate ac
--->tivities and carry out future business transactions.  The Company has called its 2019 annual general meeting for Decem
--->ber 11, 2019 to seek shareholder approval for, among other things, the listing of the Company's shares on the CSE.
About Vangold Mining Corp.
Vangold Mining is an exploration company engaged in the exploration of mineral projects in the Guanajuato region of ce
--->ntral Mexico. The Company's flagship El Pinguico project is a significant past producer of high-grade gold and silver 
--->and is located just 7km south of the city of Guanajuato, Mexico.  The Company remains focused on the near-term potenti
--->al for development and monetization of both its surface and underground stockpiles of mineralized material from El Pin
--->guico. 
ON BEHALF OF THE BOARD OF DIRECTORS "James Anderson" Chairman and CEO

For further information regarding Vangold Mining Corp, please contact: 
James Anderson, Director, +1 (778) 989-5346
Email: james@vangoldmining.com 

Continue to Follow, Like and Watch our progress: Web: www.vangoldmining.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 certain forward-looking statements, which relate to future events or future performance (in
--->cluding, but not limited to, the closing of the final tranche of the Company's non-brokered private placement and the 
--->timing and final amount thereof, the potential for near term development and monetization of existing stockpiles of mi
--->neralized material at the Company's El Pinguico project in Mexico, and the future listing of the Company's common shar
--->es on the CSE) and reflect management's current expectations and assumptions. Such forward-looking statements reflect 
--->management's current beliefs and are based on assumptions made by and information currently available to the Company. 
---> Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to r
--->isks and uncertainties that may cause future results to differ materially from those expected including, but not limit
--->ed to, market conditions, availability of financing, currency rate fluctuations, actual results of exploration and dev
--->elopment activities, environmental risks, future prices of gold, silver and other metals, operating risks, accidents, 
--->labor issues, delays in obtaining governmental or regulatory approvals and permits, and other risks in the mining indu
--->stry.  All the forward-looking statements made in this news release are qualified by these cautionary statements and t
--->hose in our continuous disclosure filings available on SEDAR at www.sedar.com.  These forward-looking statements are m
--->ade as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new event
--->s or circumstances save as required by applicable law.  



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