Mr. Shawn Khunkhun reports
STRIKEPOINT GOLD ANNOUNCES INCREASE TO PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT TO $3.0 MILLION; ADDITIONAL $1.0 M FLOW THROUGH PLACEMENT
Strikepoint Gold Inc. has increased the size of the previously announced non-brokered private placement offering of units of the company to $3-million through the sale of 20 million units at a price of 15 cents per unit.
As previously announced, each unit will comprise one common share and one share purchase warrant. Each warrant will entitle the holder to acquire an additional common share of the company at an exercise price of 25 cents per share for a period of two years.
The company has also arranged the sale of 4,761,905 flow-through units to raise aggregate gross proceeds of $1-million at a price of 21 cents per flow-through unit. Each flow-through unit will comprise one flow-through common share and warrant.
Finders' fees may be payable in connection with the placement in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
The proceeds of the placement will be utilized to finance the company's exploration activities on its existing mineral property portfolio and general working capital.
The closing of the placement is subject to receipt of all necessary regulatory approvals, including the acceptance of the TSX-V.
About Strikepoint Gold Inc.
Strikepoint Gold is a gold and silver exploration company focused on building high-grade precious metals resources in Canada. The company controls two advanced-stage exploration assets in British Columbia's Golden Triangle: the past-producing, high-grade Porter silver project and the high-grade Willoughby gold project. The company also owns a portfolio of gold properties in Yukon, and has Eric Sprott, Skeena Resources and Ascot Resources as significant shareholders.
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