VANCOUVER, June 24, 2019 /CNW/ - Goldplay Exploration
Ltd. (TSXV: GPLY, FRANKFURT: GPE,
OTCQB: GLYXF) ("Goldplay" or the "Company"), is pleased to
announce that it has closed its over-subscribed financing
previously announced on June 17, 2019
and June 20, 2019, and issued
10,010,000 common shares for gross proceeds of $1,376,250.
In connection with this financing, the Company paid a total of
$28,875 and issued a total of 231,000
warrants as finder's fees ($13,500
and 108,000 warrants to Leede Jones Gable Inc.; $12,000 and 96,000 warrants to Raymond James
Ltd.; $2,250 and 18,000 warrants to
Haywood Securities Inc.; and $750 and
6,000 warrants to PI Financial Corp.). Each finder's warrant
is exercisable for one common share at a price of $0.15/share for three years, provided that,
after the four month hold period expires, if for 10 consecutive
days the closing price of the Company's shares on the TSX-V is at
least $0.40, then the Company may
anytime thereafter accelerate the expiry date of the Warrants to
the date that is 10 days following the date on which the Company
issues notice of the new expiry date.
All securities issued under this private placement are subject
to a hold period expiring October 25,
2019 in accordance with applicable securities laws and the
policies of the TSX-V.
Marcio Fonseca, President of the
Company stated: "We are very pleased to have completed the
over-subscribed private placement and look forward to the upcoming
exploration program and resource expansion on the Company's San
Marcial property".
Goldplay has also received TSX-V approval to the debt
settlements previously announced on June 17, 2019 and
consequently has issued 600,000 common shares to settle an
aggregate debt of $75,000. All
securities issued in conjunction with the debt settlements are
subject to a hold period expiring October
25, 2019 in accordance with applicable securities laws and
the policies of the TSX-V.
About Goldplay Exploration Ltd.
Goldplay owns a >250 sq. km exploration portfolio in the
historical Rosario Au-Ag Mining District, Sinaloa, Mexico. Goldplay's current focus
includes resource expansion and exploration at the San Marcial
Project, as well as a follow up exploration program at the El Habal
Project.
The San Marcial land package consists of 1,250 ha, located south
of the La Rastra and Plomosas
historical mines in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive,
near-surface high-grade silver,gold, lead and zinc open pit project
for which a NI 43-101 resource estimate was completed by Goldplay
in early 2019 (See News Release dated February 7, 2019). It is a resource in expansion
and development stage project, fully permitted for all
exploration activities and with support and authorization by local
communities to carry out all necessary work on the project. San
Marcial exhibits significant exploration and resource expansion
upside supported by regional exploration programs recently
completed by Goldplay along 6 km mineralized trend with
identification of 8 new Au-Ag exploration targets. Some of these
exploration targets consist of old shallow pits, caved shafts and
historical underground workings in areas with extensive
hydrothermal alteration, hosted by major regional structures. A
current NI 43-101 report on the San Marcial Project is filed on
SEDAR.
The El Habal Project is a drilling stage project. The oxidized
gold mineralized zone outcrops along a series of rolling hills with
evidence of historical shallow underground mining along a 6 km long
prospective corridor. The El Habal Project is located near the
historical gold-silver Rosario Mine which reportedly operated for
over 250 years. Goldplay's team has over 30 years of experience
with senior roles in exploration, financing, and development in the
mining industry, including over ten years of extensive exploration
experience in the Rosario Mining District, leading to previous
successful discoveries. A current NI 43-101 report on the El Habal
Project is filed on SEDAR.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and
information that are based on the beliefs of management and reflect
the Company's current expectations. When used in this press
release, the words "estimate", "project", "belief", "anticipate",
"intend", "expect", "plan", "predict", "may" or "should" and the
negative of these words or such variations thereon or comparable
terminology are intended to identify forward-looking statements and
information. Such statements and information reflect the current
view of the Company. Risks and uncertainties may cause actual
results to differ materially from those contemplated in those
forward-looking statements and information. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements.
Mr. Marcio Fonseca
P. Geo, President & CEO
Goldplay Exploration
Ltd.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this press release.
SOURCE Goldplay Exploration Ltd