Independence Gold Announces $1.5 Million Financing
December 08 2020 - 8:00AM
Independence Gold Corp. (TSX.V: IGO) (the
"Company") wishes to announce a proposed equity financing (the
“Financing”) comprised of 6,250,000 flow-through common shares (the
“FT Shares”) at a price of $0.16 per FT Share, for aggregate
proceeds of $1,000,000; and 3,571,428 additional common shares
(each a “Unit”) at a price of $0.14 per Unit for aggregate proceeds
of $500,000. Each Unit will consist of one common share of the
Company (a “Share”) and one half of one common share purchase
warrant (a “Warrant”). Each Warrant will entitle the holder to
purchase one additional Share at an exercise price of $0.20 per
common share for a period of 24 months. Subject to compliance with
applicable securities laws and the approval of the Exchange,
finders’ fees may be payable to eligible arm’s length persons with
respect to certain subscriptions accepted by the Company.
The net proceeds from the Offering will be used
by the Company to fund a winter drill program at the 3Ts Property,
expected to commence in February 2021, and may also be used for
general and administrative purposes.
Closing of the Offering is subject to receipt of
applicable regulatory approvals including the approval of the TSX
Venture Exchange. The securities issued will be subject to a
standard four month hold period.
ON BEHALF OF THE BOARD of Independence
Gold Corp.
“Randy Turner”
Randy Turner, President and CEO
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
All statements in this press release, other than
statements of historical fact, are "forward-looking information"
with respect to Independence within the meaning of applicable
securities laws, including statements with respect to the
Company’s planned drilling and exploration activities. The Company
provides forward-looking statements for the purpose of conveying
information about current expectations and plans relating to the
future and readers are cautioned that such statements may not be
appropriate for other purposes. By its nature, this information is
subject to inherent risks and uncertainties that may be general or
specific and which give rise to the possibility that expectations,
forecasts, predictions, projections or conclusions will not prove
to be accurate, that assumptions may not be correct and that
objectives, strategic goals and priorities will not be achieved.
These risks and uncertainties include but are not limited to those
identified and reported in Independence’s public filings under
Independence Gold Corp.’s SEDAR profile at www.sedar.com.
Although Independence has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
information, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that such information will prove to be accurate
as actual results and future events could differ materially from
those anticipated in such statements. Independence disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise unless required by law.
UNITED STATES ADVISORY. The securities referred
to herein have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities
Act"), have been offered and sold outside the United States to
eligible investors pursuant to Regulation S promulgated under the
U.S. Securities Act, and may not be offered, sold, or resold in the
United States or to, or for the account of or benefit of, a U.S.
Person (as such term is defined in Regulation S under the United
States Securities Act) unless the securities are registered under
the U.S. Securities Act, or an exemption from the registration
requirements of the U.S. Securities Act is available. Hedging
transactions involving the securities must not be conducted unless
in accordance with the U.S. Securities Act. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy any securities, nor shall there be any sale of
securities in the state in the United States in which such offer,
solicitation or sale would be unlawful.
For further information please contact Randy
Turner at 604-687-3959 or info@ingold.ca.
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