Element79 Announces Closing of First Tranche of Non-Brokered Private Placement

Element79 Announces Closing of First Tranche of Non-Brokered Private Placement

(TheNewswire)

VANCOUVER, BC - The N ewswire - November 15, 2024 Element79 Gold Corp. (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS) ("Element79", or the "Company ") announces it has closed the first tranche of its previously announced non-brokered private placement (the "Private Placement") for aggregate gross proceeds of $500,024. Pursuant to the Private Placement, the Company has issued 5,000,240 units (each, a "Unit") at a price of $0.10 per Unit. Each Unit will consist of one (1) common share (each, a "Share") and one (1) common Share purchase warrant (each, a "Warrant"). Each Warrant is exercisable into one (1) Share at an exercise price of $0.15 until November 14, 2026. The Company will not be subjecting the warrants to an acceleration clause.

The remainder of the Private Placement may close in one or more additional tranches.  The Company intends to use a portion of the proceeds raised from the Private Placement Element79 will use the net proceeds from the Offering with a targeted 70% to be invested into its mining projects in Peru and Nevada, 15% for corporate operations/audit and 15% to Investor Relations/Marketing . The securities issued under the Private Placement will be subject to a statutory hold period in accordance with applicable securities laws of four months and one day from the date of issue, expiring March 15, 2025. No finder's fees will be paid in connection with the Private Placement.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.

About Element79 Gold Corp.

Element79 Gold is a mining company with a focus on exploring and developing its past-producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to restart production at the mine and through reprocessing its tailings, in the near term.

The Company holds a portfolio of four properties along the Battle Mountain trend in Nevada, and the projects are believed to have significant potential for near-term resource development. The Company has retained the Clover project for resource development purposes and signed a binding agreement to sell three projects with a closing date on or before November 30, 2024.

The Company also holds an option to acquire a 100% interest in the Dale Property, 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, and has recently announced that it has transferred this project to its wholly owned subsidiary, Synergy Metals Corp, and is advancing through the Plan of Arrangement spin-out process.

For more information about the Company, please visit www.element79.gold

Contact Information

For corporate matters, please contact:

James C. Tworek, Chief Executive Officer

E-mail: jt@element79.gold

For investor relations inquiries, please contact:

Investor Relations Department

Phone: +1.403.850.8050

E-mail: investors@element79.gold

Cautionary Note Regarding Forward Looking Statements

This press contains "forward‐looking information" and "forward-looking statements" under applicable securities laws (collectively, "forward‐looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made considering management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the Company's business strategy; future planning processes; exploration activities; the timing and result of exploration activities; capital projects and exploration activities and the possible results thereof; acquisition opportunities; and the impact of acquisitions, if any, on the Company. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, forward-looking statements cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward‐looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward‐looking statements".

Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2024 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

ELEM:CC
Element79 Gold

Element79 Gold Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Element79 Gold Corp (CSE:ELEM) Logo

Element79 Gold

High-grade gold project with near-term cash flow potential

High-grade gold project with near-term cash flow potential Keep Reading...
Element79 Gold Corp Secures Reclamation Bond Approval for Gold Mountain Exploration Project

Element79 Gold Corp Secures Reclamation Bond Approval for Gold Mountain Exploration Project

(TheNewswire) Vancouver, BC — October 2 1 2025 — TheNewswire - Element79 Gold Corp (CSE:ELEM,OTC:ELMGF, OTC:ELMGF, FSE: 7YS0)(the "Company" or "Element79") is elated to announce a major step forward in its U.S. exploration strategy. The Bureau of Land Management (BLM) Nevada State Office has... Keep Reading...
Element79 Gold Corp. to Showcase Nevada Focus and Growth Strategy at Munich Rohstoffmesse 2025

Element79 Gold Corp. to Showcase Nevada Focus and Growth Strategy at Munich Rohstoffmesse 2025

(TheNewswire) Vancouver, British Columbia TheNewswire - September 29, 2025 - Element79 Gold Corp. (CSE: ELEM,OTC:ELMGF) (FSE: 7YS0) (OTC: ELMGF) (the "Company" or "Element79") announces its attendance at the Munich Rohstoffmesse (Raw Materials Conference), taking place at the Munich Small... Keep Reading...
Element79 Gold Corp Obtains 2-Year Extension of Drilling Permit for Gold Mountain Project

Element79 Gold Corp Obtains 2-Year Extension of Drilling Permit for Gold Mountain Project

(TheNewswire) Vancouver, BC TheNewswire - September 16, 2025 Element79 Gold Corp (CSE:ELEM,OTC:ELMGF) (FSE:7YS0) (OTC:ELMGF) (the "Company" or "Element79") is pleased to announce that it has secured a two-year extension of its drilling permit for its 100%-owned Gold Mountain Project (formerly... Keep Reading...
Element79 Gold Corp. Announces Changes to Board of Directors with Eye to Drive Corporate Growth

Element79 Gold Corp. Announces Changes to Board of Directors with Eye to Drive Corporate Growth

(TheNewswire) Vancouver, British Columbia TheNewswire - September 15, 2025 - Element79 Gold Corp. (CSE: ELEM,OTC:ELMGF) (FSE: 7YS0) (OTC: ELMGF) (the "Company" or "Element79") announces that its Board of Directors has accepted the resignation of Ms. Zara Kanji as Director of the Company,... Keep Reading...
Element79 Gold Corp Engages Rangefront Mining Services to Complete Ni 43-101 Technical Report on Elephant Project

Element79 Gold Corp Engages Rangefront Mining Services to Complete Ni 43-101 Technical Report on Elephant Project

(TheNewswire) Vancouver, British Columbia TheNewswire September 10, 2025 Element79 Gold Corp (CSE: ELEM,OTC:ELMGF, OTC: ELMGF, FSE: 7YS0) ("Element79", the "Company") is pleased to announce that it has engaged Rangefront Mining Services of Elko, Nevada ("Rangefront") to complete a National... Keep Reading...
Heliostar Board Changes at Annual General & Special Meeting

Heliostar Board Changes at Annual General & Special Meeting

The Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") Annual General & Special Meeting ("AGM") is scheduled for November 26th, 2025. The Company's Chairman, Jacques Vaillancourt and director Ken Booth will step down at the AGM, and Mr James... Keep Reading...
Quarterly Activities/Appendix 5B Cash Flow Report

Quarterly Activities/Appendix 5B Cash Flow Report

Brightstar Resources (BTR:AU) has announced Quarterly Activities/Appendix 5B Cash Flow ReportDownload the PDF here. Keep Reading...
Quarterly Activities & Cashflow Report

Quarterly Activities & Cashflow Report

Astral Resources (AAR:AU) has announced Quarterly Activities & Cashflow ReportDownload the PDF here. Keep Reading...
Locksley Resources Limited  High Resolution Heli-Mag and Radiometrics Survey Commence

Locksley Resources Limited High Resolution Heli-Mag and Radiometrics Survey Commence

Perth, Australia (ABN Newswire) - Locksley Resources Limited (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) announced that it has signed a contract with EDCON-PRJ, Inc from Colorado and commenced with a high-resolution heli-mag and radiometrics survey (the "Survey") across the Company's Mojave... Keep Reading...
FORTUNE BAY ANNOUNCES CLOSING OF C$8 MILLION BOUGHT DEAL PRIVATE PLACEMENT

FORTUNE BAY ANNOUNCES CLOSING OF C$8 MILLION BOUGHT DEAL PRIVATE PLACEMENT

/Not for distribution to United States newswire services or for dissemination in the United States/ Fortune Bay Corp. (TSXV: FOR,OTC:FTBYF) (FWB: 5QN) (OTCQB: FTBYF) ("Fortune Bay" or the "Company") is pleased to announce the closing of its previously announced "bought deal" private placement... Keep Reading...
Kobo Resources Intersects 10.0 m at 2.50 g/t Au and 13.0 m at 1.49 g/t Au, Confirming Strong Gold Mineralisation Along the Contact Zone Fault at Kossou

Kobo Resources Intersects 10.0 m at 2.50 g/t Au and 13.0 m at 1.49 g/t Au, Confirming Strong Gold Mineralisation Along the Contact Zone Fault at Kossou

Strong mineralisation along the Contact Zone Fault ("CZ Fault") confirmed with multiple broad gold intercepts, including 10.0 m at 2.50 g/t Au and 11.0 m at 0.51 g/t Au at the Road Cut Zone High-grade near-surface intersections such as 1.0 m at 17.30 g/t Au at the Jagger Zone underscore the... Keep Reading...
Element79 Gold

Element79 Gold Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News