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Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company" or "IGLD") is pleased to announce it has completed its previously announced non-brokered private placement financing (the "Private Placement") and has issued 1,728,864 common shares at a price of $0.29 per common share for gross proceeds of $501,370.56. The Company intends to use the proceeds of the Private Placement for working capital.
In connection with the Private Placement the Company has paid certain cash finder's fees and has issued an aggregate of 49,998 finder's warrants (each, a "Finder's Warrant"). Each Finder's Warrant is exercisable for one common share at an exercise price of $0.29 for 18 months.
All securities issued pursuant to the Private Placement are subject to a four-month hold period from the date of issuance.
About Golden Independence Mining Corp.
Golden Independence Mining Corp. is an exploration company currently focused on exploring the advanced-stage Independence property located adjacent to Nevada Gold Mine's Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada. The Independence property hosts a M&I resource of 537,300 ounces of gold and Inferred resource of 943,500 ounces of gold with a substantial silver credit. The Company is actively advancing the near-surface resource towards a production decision with a PEA anticipated in late 2021.
FOR FURTHER INFORMATION PLEASE CONTACT:
Christos Doulis, Chief Executive Officer
Telephone: 1.647.924.1083
Email: christos@goldenindependence.co
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 the use of proceeds 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) 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/87020
