Golden Dawn Announces $1.5 Million Private Placement and Closes First Tranche
February 07 2018 - 6:39PM
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Golden Dawn Minerals Inc., (TSX-V:GOM) (FRANKFURT:3G8A) (OTC:GDMRF)
(the “Company” or “Golden Dawn”) announces that, subject to
regulatory approval, the Company intends to raise up to $1,500,000
through the issuance of up to 2,884,615 non-flow through units and
up to 2,631,578 flow-through units by way of a non-brokered private
placement (the “Offering”). Non-flow through units (“NFT Units”)
will be issued at a price of $0.26 per NFT Unit and flow through
units (“FT Units”) at a price of $0.285 per FT Unit. Each NFT Unit
consists of one common share and one transferable common share
purchase warrant exercisable at $0.30 for 24 months from the date
of issuance. Each FT Unit consists of one common share and one-half
of one transferable common share purchase warrant. Each whole
flow-through warrant is exercisable at $0.30 for 24 months from the
date of issuance. The Offering is subject to TSX Venture Exchange
(“TSXV”) approval. The Issuer reserves the right to increase the
size of the private placement or to modify the type, nature and/or
price of the units for any reason. The Offering and any
modification to it are subject to compliance with applicable
securities laws and approval of the TSX Venture Exchange.
Subject to Regulatory Approval, the Company has
closed the first tranche of the Offering through the issuance of
1,360,000 FT Units and 771,000 NFT Units, raising $588,060. A total
of 1,451,000 share purchase warrants were issued at an exercise
price of $0.30 for a term of 24 months. All shares and warrants
issued in this tranche are subject to a four month and one day hold
period, expiring on June 8, 2018.
Also subject to regulatory approval, the Company
announces that in respect of the tranche 1 closing, it has paid
commissions of $46,474.80, issued 85,240 compensation warrants and
85,240 compensation shares. The compensation warrants are issued at
a price of $0.30 and are exercisable until February 7, 2020 with a
hold period expiring on June 8, 2018.
All securities issued in connection with the
Offering will be subject to a hold period expiring four months and
one day from the date of issuance of such securities. A finder's
fee of cash, broker warrants and common shares, or a combination
thereof, may be paid to eligible finders with respect to any
portion of the Offering.
The proceeds of the Offering will be utilized
for exploration on its Greenwood Precious Metals Project,
commencement of trial mining and for general working capital.
On behalf of the Board of Directors:GOLDEN DAWN
MINERALS INC.
Wolf Wiese, President & Chief Executive
Officer
For further information, please
contact:Corporate Communications604-221-8936
allinfo@goldendawnminerals.comwww.goldendawnminerals.com
This press release was prepared by management
who takes full responsibility for its contents. 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. this
document contains certain forward-looking statements which involve
known and unknown risks, delays, and uncertainties not under the
Company’s control which may cause actual results, performance or
achievements of the Company to be materially different from the
results, performance, or achievements implied by these
forward-looking statements. We seek safe harbor.
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