CSE:IGLD

Golden Independence Announces Private Placement Financing

Golden Independence (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company" or "IGLD") is pleased to announce a proposed non-brokered private placement financing (the "Private Placement") of up to 8,620,690 units ("Units") at a price of $0.29 per Unit to raise gross proceeds of approximately $2,500,000.

Each Unit will consist of one common share (a "Common Share") and one-half of a common share purchase warrant (each whole warrant a "Warrant"). Each Warrant will entitle to the holder to acquire one additional Common Share at an exercise price of $0.45 for 24 months following the date of issuance. The Company also retains the option to increase the size of the Private Placement to 13,793,104 Units, which would result in total gross proceeds of approximately $4,000,000. The Company intends to use the net proceeds of the Private Placement for exploration work on its Independence Property and for working capital. The Company may pay fees to certain finders equal to 6% of the gross proceeds and issue warrants ("Finder's Warrants") equal to 6% of the Units placed. The terms of the Finder's Warrants will be identical to the Warrant terms.

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.

About Golden Independence Mining Corp.

Golden Independence Mining Corp. is an exploration company currently focused on exploring the advanced-stage Independence Property located in the Battle Mountain-Cortez Trend, Nevada and the Champ precious metal property near Castlegar, British Columbia. The Independence 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/78429

News Provided by Newsfile via QuoteMedia

The Conversation (0)
New Murchison Gold Limited

New Murchison Gold Provides a Mineral Resource Update for the Crown Prince Deposit

New Murchison Gold Limited (ASX: NMG) (“NMG” or the “Company”) is pleased to announce an updated Mineral Resource Estimate (MRE), reported in accordance with the JORC Code, for the Crown Prince Deposit (Crown Prince) at the Company’s flagship Garden Gully Gold Project (Garden Gully) near Meekatharra, Western Australia.

Keep reading...Show less
Mardi Gras mask.

New Orleans Investment Conference Marks 50 Years of Market Insights and Contrarian Wisdom

Taking place a few weeks later than usual — likely to accommodate the US election — this year's New Orleans Investment Conference saw many resource sector analysts, newsletter writers, speculators and contrarians offer insight on the economy, potential market movements and which commodities to watch.

Hosted by Brien Lundin, CEO and president of Jefferson Financial and editor of Gold Newsletter, the New Orleans Investment Conference first launched in 1975 as the brainchild of entrepreneur James Blanchard, a well-known dealer of fine coins and precious metals and the founder of Blanchard and Company.

Blanchard was fondly remembered at the conference's 50th anniversary by presenters and panelists, including popular investor and speculator Rick Rule, proprietor of Rule Investment Media.

Keep reading...Show less
Wooden sign saying "Welcome to Côte d'Ivoire."

Côte d'Ivoire: The Golden Frontier of West African Mining

As global investors seek new frontiers in the precious metals sector, Côte d'Ivoire is rapidly emerging as a high-potential gold region in West Africa. This West African nation, known for its stable political climate and pro-mining regulations, is becoming an increasingly attractive destination for gold exploration companies and investors alike.

Côte d'Ivoire's geological landscape is dotted with significant gold deposits within and nearby, including Resolute Mining’s (ASX:RSG,OTC Pink:RMGGF) renowned Syama deposit in Mali with gold resource of 10.3 million ounces, the Sissingué gold mine, which produces 70,000 to 100,000 ounces of gold per year, and Barrick Gold's (TSX:ABX,NYSE:GOLD) prolific Tongon operation.

These substantial resources are just some of the known deposits that underscore the country's potential to become a major player in the global gold-mining industry.

Keep reading...Show less
Opawica Explorations to Present at the Emerging Growth Conference on Dec 5th

Opawica Explorations to Present at the Emerging Growth Conference on Dec 5th

(TheNewswire)

Opawica Explorations Inc.

November 27th, 2024 TheNewswire - Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the "Company" or "Opawica") a Canadian mineral exploration company focused on precious and base metal projects.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Rich Checkan, gold bars.

Rich Checkan: US$3,800 Gold a Minimum This Cycle, US$90 Silver “Very Doable”

Rich Checkan, president and COO of Asset Strategies International, explained to the Investing News Network why the gold price fell after the US election, as well as why he thinks the bull market is nowhere near over.

He sees the yellow metal reaching US$3,800 to US$5,700 per ounce during this cycle.

“Post-election we had a selloff, which I think was wonderful and needed and healthy. These are buying opportunities, this is not the end of the bull market — not even close. None of the factors suggesting that are firing right now,” he said.

Keep reading...Show less

Latest Press Releases

Related News

×