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Green River Gold Corp. (CSE: CCR) (the "Company" or "Green River") is pleased to announce that it plans to undertake a non-brokered private placement of up to 3,000,000 Flow-Through Common Shares ("Flow-Through Shares") to raise gross proceeds of up to $225,000.00 (the "Flow-Through Offering"). Each Flow-Through Share will be offered at a price of $0.075. In addition, a one-half common share warrant ("Warrant") will be issued for each Flow-Through Share issued under the Flow-Through Offering. Each full Warrant will be exercisable to acquire one common share ("Common Share") for a period of 2 years following the closing of the Flow-Through Offering at an exercise price of $0.09 per Common Share, subject to acceleration. The Flow-Through Offering is expected to close on or about February 11, 2022.
If the closing price of the Company's Common Shares on the Canadian Securities Exchange (the "CSE") (or such other principal exchange on which the Common Shares may be traded at such time) is equal to or greater than $0.20 for a period of ten (10) consecutive trading days, the Company may, at its sole option, accelerate the expiry date of Warrants to the date which is thirty (30) days following the date upon which notice of the accelerated expiry date is provided by the Company (given by way of news release).
The Company intends to use the proceeds of the Flow-Through Offering for the exploration of the Company's key projects which include:
The Fontaine Gold Project, which is contiguous to, and on trend with, Osisko Development Corp's Cariboo Gold Project near Wells, British Columbia. The Cariboo Gold Project contains indicated resources of 3,160,000 ounces of gold and inferred resources of 2,721,000 ounces of gold. A recently completed UAV-MAG survey of Green River's Fontaine Gold Project identified a parallel strike length of 2.0 km x 2.5km width.
The high-grade Silver-Gold Kymar Project near Invermere, British Columbia. The Kymar Project has historical production from several sites including the Beulah prospect which showed historical production from 1926 of 2,000gpt silver, 57% lead, 0.8% copper and 3.4gpt gold. (B.C. Minfile 082KSE057).
The Quesnel Nickel/Cobalt/Talc Project near Wells, British Columbia. A recently completed UAV-MAG survey of the property identified areas of interest for follow up exploration.
The Flow-Through Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the CSE.
No commissions will be paid with respect to the Flow-Through Offering, however, Green River may pay a cash finder's fee to certain finders of up to 8% of the aggregate gross proceeds of subscriptions facilitated by such finders.
In addition, Green River announces that it has granted options to purchase up to 7,100,000 Common Shares as part of the overall remuneration and incentive program for its directors, officers, employees and consultants. The options have an exercise price of $0.07 and expire on January 31, 2027. In accordance with the Company's incentive stock option plan, all of the options will vest immediately other than 800,000 options issued to optionees who undertake Investor Relations Activities (as defined by the policies of the TSX Venture Exchange) which shall vest over a one-year period with 25% vested quarterly.
About Green River Gold Corp.
Green River Gold Corp. acquires and develops placer mining claims and mineral claims. The Company controls a 100% interest in the flagship Fontaine Gold Project. The 8,900-hectare Fontaine Gold Project is situated 12 kilometers southwest of Barkerville. The property includes both placer and hard-rock tenures. The properties straddle an 18 km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Company controls a 100% interest in the 1,440-hectare Kymar Silver Project, located 28 kilometers West of Invermere, British Columbia.
The Company controls a 100% interest in placer mining projects on the Little Swift River, Sovereign Creek, Willow River, and Swift River. The Company rents placer claims to placer gold miners for cash rent, in lieu of a royalty.
Green River Gold Corp. also distributes equipment and supplies for the placer mining industry and is a Limited Partner in the Green River Gold Trading Limited Partnership, which purchases raw placer gold from miners. Those operations and mining projects are based out of a 6,000 square foot office, retail, and manufacturing facility in the heart of the Cariboo Mining District in Quesnel, British Columbia.
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.
For more information contact:
Green River Gold Corp.
Mr. Perry Little
President and Chief Executive Officer
780-993-2193
Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumption. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112654
