in private placement

Golden Independence Announces Close of Private Placement Financing

Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDM) (FSE: 6NN) (the "Company" or "IGLD") announces it completed the previously-announced non-brokered private placement for gross proceeds of $2,800,000 (the "Private Placement").

The financing resulted in the issuance of 11,200,000 units (each a "Unit") at a price of $0.25 per Unit. Each Unit is comprised of one common share and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.42 per share for a period of two years from the date of issuance.

In connection with the Private Placement, the Company paid aggregate cash finders' fees of $59,285 and issued an aggregate of 263,040 finder warrants (the "Finder Warrants") to eligible finders, with the Finder Warrants having the same terms and conditions as the Warrants.

Insiders of the Company purchased an aggregate of 304,200 Units in the Private Placement. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of such insider participation.

All securities issued pursuant to the Private Placement will be subject to a four-month hold period from the date of issuance. Completion of the Private Placement is subject to the approval of the Canadian Securities Exchange.

None of the Shares or Warrants have been or will be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state of the United States, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities, in any jurisdiction in which such offer, solicitation or sale would require registration or otherwise be unlawful.

About Golden Independence Mining Corp.

Golden Independence Mining Corp. is an exploration company currently focused on exploring the advanced-stage Independence Gold Property located in the Battle Mountain-Cortez Trend, Nevada and the Champ precious metal property near Castlegar, British Columbia. The Independence Gold Property benefits from over US$25 million in past exploration, including over 200 holes drilled, and is located adjacent to Nevada Gold Mines' Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend of Nevada.

FOR FURTHER INFORMATION PLEASE CONTACT:

Christos Doulis, Chief Executive Officer
Telephone: 1.647.924.1083 Email: christos@goldenindependence.co

Forward Looking Information

This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations involving a number of risks and uncertainties and such forward-looking statements are not guarantees of future performance of the Company, and include, without limitation, statements regarding completion of the Private Placement. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information in this news release, including without limitation, the following risks and uncertainties: (i) the risk that the Canadian Securities Exchange will not accept the terms of the Private Placement; (ii) the risk that the Company will not be able to locate suitable purchasers for the Private Placement; and (iii) management's discretion regarding the use of proceeds. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.

NOT FOR DISTRIBUTION OR DISSEMINATION INTO THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80012

News Provided by Newsfile via QuoteMedia

The Conversation (0)

Yukon Metals Begins Inaugural Drilling Program at High-Grade Copper Zone of AZ Property

Yukon Metals Corp. (CSE: YMC, FSE: E770, OTCQB: YMMCF) (" Yukon Metals " or the " Company ") is pleased to announce it has commenced the inaugural drilling program at its 11,755-hectare AZ Project, located 6 kilometers west of the Alaska Highway and 36 kilometres south of Beaver Creek, Yukon. The fully funded exploration program includes 2,000 metres of diamond drilling, along with extensive geological mapping and rock-chip sampling across several high-priority targets. (Figure 4).

2025 AZ Drilling Program:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Agreement to Acquire Major Drill-Ready Antimony-Gold-Tungsten Project in Stibnite Mining District, Idaho, USA

Agreement to Acquire Major Drill-Ready Antimony-Gold-Tungsten Project in Stibnite Mining District, Idaho, USA

The Horse Heaven Project, directly adjacent to the Perpetua Resources Corp. (PPTA.NAS) Stibnite Gold Mine, has strong Antimony, Gold, Silver and Tungsten mineralisation in two highly prospective structurally controlled mineralised corridors, and includes past- production of Antimony, Tungsten and artisanal Gold.

Resolution Minerals Ltd (“RML” or the “Company”) (ASX: RML) is pleased to announce that it has entered into a binding agreement for the acquisition of a brownfields Antimony and Gold project located in Idaho of the United States of America.

Keep reading...Show less
Red Mountain Mining

Multiple High Antimony Soil Anomalies Discovered at Armidale

Red Mountain Mining Limited (“RMX” or the “Company”) is pleased to report that Highly Anomalous Antimony soil assays have been confirmed at Oaky Creek, part of RMX’s 100% owned Armidale Antimony-Gold Project. A newly defined south-east trend away from the Oaky Creek North pits has been revealed, additionally a new area near Oaky Creek South has opened where up to 333pm Sb in soil has been discovered. The distribution of Antimony in the soils suggests a network across Oaky Creek, of multiple veins existing over 2.3km along the Namoi Fault and up to 400m from the fault. The supporting rock chip assays are pending and expected to be received by the end of June.

Keep reading...Show less

Latest Press Releases

Related News

×