Solstice Announces $1.5 Million Flow-Through Financing
23 Dezembro 2021 - 7:01PM
Solstice Gold Corp. (TSXV: SGC) (“
Solstice”, “we”,
“our” or the “
Company”) is pleased to announce
that it intends to complete a flow-through financing by way of a
non-brokered private placement for aggregate proceeds of
approximately $1.5 million subject to increase at the discretion of
the board of directors of the Company (the
“
Offering”). The Offering will consist of up to
6,521,739 common shares of the Company (the “
Flow-Through
Shares”) that qualify as flow-through shares for purposes
of the Income Tax Act (Canada) at a price of $0.23 per Flow-Through
Share.
The gross proceeds raised from the Offering will
be used by the Company to fund exploration programs that qualify as
“Canadian Exploration Expenses” and “flow-through mining
expenditures”, as those terms are defined in the Income Tax Act
(Canada) at the Company’s mining projects in Ontario.
The closing of the Offering is expected to occur
on or before December 31, 2021 (the “Closing
Date”) and is subject to receipt of all applicable
regulatory approvals, including the approval of the TSX Venture
Exchange (the “TSXV”). The Flow-Through Shares
will be offered by way of private placement in Ontario and such
other provinces and territories of Canada and other jurisdictions
as determined by the board of directors of the Company. The
Flow-Through Shares to be issued under the Offering will be subject
to a statutory hold period of four months and one day from the
Closing Date.
This news release does not constitute an offer
to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will not be
registered under the United States Act of 1933, as amended (the
“U.S. Securities Act”) or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons (as
such term is defined in Regulation S under the U.S. Securities Act)
unless registered under the U.S
About Solstice Gold Corp.
Solstice is a gold-focused exploration company
with high-quality, district scale projects in established mining
regions of Canada. Our 174 km2 Red Lake land position is located on
the northern extensions of the prolific Red Lake Gold District in
Ontario. The RLX Gold Project is located approximately 45km from
the Red Lake Mine Complex owned by Evolution Mining. Our district
scale Qaiqtuq Gold Project covers 886 km2 with certain other rights
covering an adjacent 683 km2, hosts a 10 km2 gold boulder field and
is fully permitted with multiple drill-ready targets. Qaiqtuq is
located in Nunavut, Canada, only 26 km from Rankin Inlet and
approximately 7 km from the Meliadine gold deposits owned by Agnico
Eagle Mines Limited. Our newly formed 225km2 Atikokan Gold Project
is in the Thunder Bay Mining District. Solstice has approximately
152 million shares outstanding.
Neither 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.
For further information on Solstice Gold Corp.,
please visit our website at www.solsticegold.com or contact:
Phone: (604) 283-7234
info@solsticegold.com
Cautionary Note Regarding
Forward-Looking Statements and Information
This news release contains certain
forward-looking statements (“FLS”) including but not limited to,
the terms of the Offering, the use of proceeds of the Offering, the
timing of closing the Offering, the potential increase of the
amount of the Offering, and the Company obtaining all necessary
regulatory approvals for the Offering including the approval of the
TSXV. FLS can often be identified by forward-looking words such as
“approximate or (~)”, “emerging”, “goal”, “plan”, “intent”,
“estimate”, “expects”, “potential”, “scheduled”, “may” and “will”
or similar words suggesting future outcomes or other expectations,
beliefs, plans, objectives, assumptions, intentions or statements
about future events or performance. Actual results or developments
may differ materially from those in forward-looking statements. The
Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, save and except as may be
required by applicable securities laws.
Since forward-looking 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. These include, but are not limited to, that Company may not
be able to obtain necessary regulatory approvals for the Offering,
the Offering may not close when anticipated or may not close at
all, that the use of proceeds from the Offering may differ due to
unforeseen circumstances and general risks relating to the
Company’s business including there is no guarantee that continued
exploration at Solstice exploration projects, all of which are at
an early stage of exploration, will lead to the discovery of an
economic gold deposit, future impacts of the COVID 19 pandemic and
government response to such pandemic, the ability of the Company to
continue exploration at its projects during the pandemic and the
risk of future lack of access to the projects as a result thereof,
delays in obtaining or failures to obtain required governmental,
environmental or other project approvals, inability to locate
source rocks, inflation, changes in exchange rates, fluctuations in
commodity prices, delays in the development of projects, regulatory
approvals and other factors. FLS are subject to risks,
uncertainties and other factors that could cause actual results to
differ materially from expected results.
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