Golden Sky Minerals Corp.
(AUEN.V) OTC
(LCKYF) (the “Company” or “Golden Sky”)
is pleased to announce that, subject to TSX Venture Exchange (the
“Exchange”) approval, it intends to complete a private placement
financing (the “
Private Placement ”) of
up to 3,571,428 non-flow-through units (the
“
NFT Units ”) at a
price of CAD$0.42 per NFT Unit and up to 2,884,615 flow-through
units (“
FT Units”), priced at $0.52 per FT Unit
for total gross proceeds of up to $3,000,000. The Private Placement
is expected to close July 8th, 2021.
The non-flow-through funding will consist of up
to 3,571,428 $0.42 NFT Units for gross proceeds of up to
$1,500,000.00. Each NFT Unit will consist of one common share plus
one common share purchase warrant entitling the holder to purchase
an additional common share at $0.60 for a twenty-four-month
period.
The Company anticipates that Crescat Capital LLC
("Crescat") will make a strategic investment in
the non-flow-through portion of the Private Placement, representing
a 7.6 % - ownership of the Company on a non-diluted bases and a
11.5 % ownership on a partially diluted basis after the Private
Placement. The Company anticipates it will also enter into an
agreement with Crescat granting it an option to participate in
future financings to maintain its pro rata interest in the Company,
until such time as Crescat holds 3% of the issued and outstanding
shares of Golden Sky. On closing, Crescat will hold 1,430,000.00
NFT Units, representing 1,430,000 common shares and 1,430,000.00
common share purchase warrants, or 11.5% of the outstanding
shares.
The flow-through funding will consist of up to
2,884,615 $0.52 FT Units for gross proceeds of up to $1,500,000.00.
Each FT Unit will consist of one flow-through common share plus one
common share purchase warrant entitling the holder to purchase an
additional common share at $0.80 for a twelve-month period.
The Company anticipates that Cordillera Minerals
Group Ltd. (“Cordillera”) will make a strategic
investment in the flow-through portion of the Private Placement,
representing a 7.50% per-cent ownership of the Company on a
non-diluted bases and a 11.00% ownership on a partially diluted
basis after the Private Placement. On closing, Cordillera
would hold 1,400,000.00 FT Units representing 1,400,000.00
flow-through shares and 1,400,000.00 common share purchase warrants
or 11% of the outstanding shares.
All securities issued will be subject to a four
month hold period pursuant to securities laws in Canada.
The Company intends to use the proceeds from the
Private Placement for exploration of the Company’s portfolio of
resource properties and for general working capital.
Proceeds from the Private Placement will be used for a 2000-metre
diamond drill program at Golden Sky’s British Columbia flagship
Rayfield Copper-Gold Project, located in the Quesnel Trough,
British Columbia. In addition, proceeds will be used to further
advance the Company’s Hotspot Property in the Yukon Territory and
for general working capital. The Company expects that the drill
program at Hotspot will commence on or around August 1st, 2021, and
a year-round exploration program at Rayfield will commence sometime
in June 2021.
Golden Sky Minerals President and CEO, John
Newell, commented, “We are very pleased to welcome Crescat Capital
LLC. and Cordillera Minerals Group Ltd. as strategic investors as
exploration and drilling ramps up at our Hotspot, Luckystrike, and
Bullseye Properties in the Yukon Territories and as we advance our
Rayfield Copper Gold Exploration Property in South Central British
Columbia during the second half of the year.”
Kevin Smith, Crescat’s founder and Chief
Investment Officer stated.
“We are excited to help finance further drilling
at the company’s recent gold discovery in the Yukon as well as
their newly acquired copper gold project in BC.”
Dr. Hennigh also commented stating “Golden Sky
has two projects that caught our attention, Hotspot and Rayfield.
Hotspot, Yukon, is a newly discovered epithermal gold system hosted
by Eocene volcanic rocks. Last season, Golden Sky drilled a 100
gram-meter hole making this an incipient discovery in our view, one
in need of immediate follow up. The newly acquired Rayfield
project, BC, encompasses an intrusive center displaying multiple
prospective alkaline porphyry targets. Historic drilling has
encountered narrow intervals of high grades of Cu and Au. We are
keen to see the proceeds from this financing used to hit both
projects hard this year."
About Crescat Capital LLC
Crescat is a global macro asset management firm
headquartered in Denver, Colorado. Crescat’s mission is to grow and
protect wealth over the long term by deploying tactical investment
themes based on proprietary value-driven equity and macro models.
Crescat’s goal is industry leading absolute and risk-adjusted
returns over complete business cycles with low correlation to
common benchmarks. The company’s investment process involves a mix
of asset classes and strategies to assist with each client’s unique
needs and objectives and includes Global Macro, Long/Short, Large
Cap and Precious Metals funds.
About Dr. Quinton Hennigh
Crescat is advised by its technical consultant,
Dr. Quinton Hennigh on investments in gold and silver resource
companies. Dr. Hennigh became an economic geologist after obtaining
his PhD in Geology/Geochemistry from the Colorado School of Mines.
He has more than 30 years of exploration experience with major gold
mining firms that include Homestake Mining, Newcrest Mining and
Newmont Mining. Recently, Dr. Hennigh founded Novo Resources Corp
(TSXV: NVO) and is serving as Chairman. Among his notable project
involvements are First Mining Gold’s Springpole gold deposit in
Ontario, Kirkland Lake Gold’s acquisition of the Fosterville Gold
Mine in Australia, the Rattlesnake Hills gold deposit in
Wyoming.
About Cordillera Minerals Group
Ltd.
The Cordillera Minerals Group Ltd. creates tax
advantaged flow-through limited partnerships and invests in
Canadian junior mineral issuers who have an experienced and strong
management team, and prolific assets and exploration drill targets
that offer their investors upside potential and capital
appreciation on their investment.
www.cordilleramineralsgroup.com
Mr. Bruce Fair, President and CEO, Cordillera
Minerals Group Ltd., added, “Our Partnerships goal is to look for
companies with projects in British Columbia but who also have
geographical diversification and assets in other provinces or
territories. We anticipate a flow-through investment in a company
like Golden Sky Minerals with 100 percent owned Yukon and British
Columbia assets, along with a growth-focused management team makes
Golden Sky Minerals an attractive company for our Flow-Through
Limited Partnership at a very modest current valuation.
The Financing may be affected with insiders of
the Company subscribing for Flow-Through Units and/or Hard Dollar
Units, that portion of the Financing being a “related party
transaction” as such term is defined under Multilateral Instrument
61-101 – Protection of Minority Security Holders in Special
Transactions (“MI61-101”). The Company relies on exemptions
from the formal valuation and minority approval requirements set
out in MI 61- 101. The Company is exempt from the formal
valuation requirement of MI 61-101 under sections 5.5(a) and (b) of
MI 61-101 in respect of both transactions as the fair market value
of each transaction, insofar as it involves the interested part and
is not more than the 25% of the Company’s market
capitalization. Additionally, the Company is exempt from
minority shareholder approval under sections 5.7(1)(a) and (b) of
MI 61-101 as, in addition to the foregoing, (i) neither the fair
market value of the units nor the consideration received in respect
thereof from interested party exceeds $2,500,000, (ii) the Company
has one or more independent directors who are not employees of the
Company, and (iii) all of the independent directors have approved
the transaction. Material change reports were not filed prior
to the closing of the financing as insider participation had not
been established at the time the financing was announced.
About Golden Sky Minerals
Corp.
Golden Sky Minerals Corp. is a well-funded
junior grassroots explorer focused on the discovery of new precious
metal and copper projects through systematic exploration in metal
endowed terranes, located in tier-one mining jurisdictions. Golden
Sky's focus is to develop their portfolio of projects to resource
stage. Currently, the company has three drill ready projects in the
Yukon; this includes the Hotspot, Bullseye, and Luckystrike
properties. In addition, the recent property purchase of the
Rayfield Copper-Gold Project in southern British Columbia adds to
the company's substantial early-stage project pipeline in
Canada.
The company was incorporated in 2018 and is
headquartered in Vancouver, British Columbia, Canada. More
information can be found at the Company’s website at
www.goldenskyminerals.com.
ON BEHALF OF
THE BOARD
John Newell, President and Chief Executive
Officer
For new information from the Company's programs,
please visit Golden Sky's website at www.GoldenSkyMinerals.com or
contact John Newell by telephone (604) 568-8807 or by email at
info@goldenskyminerals.com or
john.newell@goldenskyminerals.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
Statements contained in this news release that
are not historical facts are “forward-looking information” or
“forward-looking statements” (collectively, “Forward-Looking
Information”) within the meaning of applicable Canadian securities
legislation. In certain cases, Forward-Looking Information can be
identified by the use of words and phrases such as “anticipates”,
“expects”, “understanding”, “has agreed to” or variations of such
words and phrases or statements that certain actions, events or
results “would”, “occur” or “be achieved”. Although Golden Sky has
attempted to identify important factors and risks that could affect
Golden Sky and may cause actual actions, events or results to
differ materially from those described in Forward-Looking
Information, there may be other factors and risks that cause
actions, events or results not to be as anticipated, estimated or
intended, including, without limitation: inherent risks involved in
the exploration and development of mineral properties; the
uncertainties involved in interpreting drill results and other
exploration data; the potential for delays in exploration or
development activities; the geology, grade and continuity of
mineral deposits; the possibility that future exploration,
development or mining results will not be consistent with Golden
Sky’s expectations; accidents, equipment breakdowns, title and
permitting matters; labour disputes or other unanticipated
difficulties with or interruptions in operations; fluctuating metal
prices; unanticipated costs and expenses; uncertainties relating to
the availability and costs of financing needed in the future,
including to fund any exploration programs on its projects; that
Golden Sky may not be able to confirm historical exploration
results and other risks set forth in Golden Sky's public filings at
www.sedar.com. In making the forward-looking statements in this
news release, Golden Sky has applied several material assumptions,
including the assumption that general business and economic
conditions will not change in a materially adverse manner. There
can be no assurance that Forward-Looking Information will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on Forward-Looking
Information. Except as required by law, Golden Sky does not assume
any obligation to release publicly any revisions to Forward-Looking
Information contained in this news release to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
Golden Sky Minerals (TSXV:AUEN)
Gráfico Histórico do Ativo
De Dez 2024 até Jan 2025
Golden Sky Minerals (TSXV:AUEN)
Gráfico Histórico do Ativo
De Jan 2024 até Jan 2025