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Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") announces an offering on a non-brokered private placement basis of up to 3,500,000 units (each a "Unit") at a price of $0.45 per Unit for gross proceeds of up to $1,575,000 (the "Offering").
Each Unit will consist of one common share of the Company and one-half of one share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.65 per share for a period of two years from the date of closing. The Offering may include closing in tranches and multiple closing dates.
The Company will make a provision for an over-allotment option (the "Over-Allotment Option") to allow a purchase of up to 1,100,000 additional Units beyond the number of Units contemplated in this Offering. If the Over-Allotment Option is fully exercised, the total proceeds of the Offering will be an aggregate of 4,600,000 Units and gross proceeds of $2,070,000.
The proceeds from the Offering will be used for exploration and development of the Company's properties and general working capital. In connection with the Offering, the Company may pay finder's fees of 7% of the gross proceeds of the Offering payable in cash. In addition, finders may receive share purchase warrants entitling them to purchase that number of common shares of the Company equal in number to 7% of the total number of Units purchased by subscribers introduced to the Company by such finders, exercisable for a period of two years from the closing of the Offering at a price of $0.65 per common share, all in accordance with the policies of the Canadian Securities Exchange ("CSE").
Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including approval of the CSE. The securities issued pursuant to the Offering will be subject to a statutory hold period in accordance with applicable securities laws.
The securities offered have not been and will not be 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 applicable exemption from the registration requirements.
Shareholder Update Call April 21, 4PM EST
Getchell Gold Corp. is hosting the April Shareholder Update this Wednesday, April 21, at 4pm EST. All interested investors and media are welcome to register: https://app.livestorm.co/getchell-gold/getchell-gold-april-2021-shareholder-update?type=detailed.
About Getchell Gold Corp.
The Company is a Nevada focused gold and copper exploration company trading on the (CSE: GTCH) and (OTCQB: GGLDF). Getchell Gold is primarily directing its efforts on its most advanced stage asset, Fondaway Canyon, a past gold producer with a significant in-the-ground historic resource estimate. Complementing Getchell's asset portfolio is Dixie Comstock, a past gold producer with a historic resource and two earlier stage exploration projects, Star and Hot Springs Peak. Getchell has the option to acquire 100% of the Fondaway Canyon and Dixie Comstock properties, Churchill County, Nevada.
The Company reiterates that its near-term strategy to advance its assets is not impacted by the COVID-19 Corona virus. The Company continues to monitor the situation and is in compliance with all government guidelines.
For further information please visit the Company's website at www.getchellgold.com or contact the Company at info@getchellgold.com.
Mr. William Wagener, Chairman & CEO
Getchell Gold Corp.
+1 303 517 8764
info@getchellgold.com
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release. Not for distribution to U.S. news wire services or dissemination in the United States.
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the private placement and the completion thereof and the use of proceeds. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, use of proceeds from the financing, capital expenditures and other costs, and financing and additional capital requirements. Although management of Getchell have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80956
