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Stakeholder Gold Corp. (TSXV: SRC,OTC:SKHRF) (OTCQB: SKHRF) (WKN: A2QEP1) ("Stakeholder" or the "Company") is pleased to announce that it has closed a non-brokered flow-through private placement for aggregate gross proceeds of $700,400.
The private placement was completed at a price of $2.06 per unit for a total of 340,000 units.
Each flow-through unit consists of one common share of the Company issued on a flow-through basis pursuant to the Income Tax Act (Canada) and one half of one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $2.40 per share for a period of two (2) years from the date of issuance.
Each whole Warrant has an early exercise provision that allows the Company to trigger exercise of the Warrant when the 10-day average price of Common Shares traded on the TSX Venture Exchange exceeds $3.00 per share. Thirty days (30) after the trigger date, any unexercised Warrants will be deemed to be null and void. All securities issued under this Private Placement will be subject to a 'hold' period expiring four months and one day from the date of closing. The financing was completed with investors secured by Wealth Creation Preservation & Dominion Inc. ("Wealth" or "WCPD").
Gross proceeds from the Private Placement will be used to fund Canadian exploration expenditures, including expenditures that qualify as eligible mineral exploration expenses, as defined under the Income Tax Act (Canada). The Company intends to incur qualifying expenditures on its Ballarat exploration property located in the White Gold District of the Yukon Territory, Canada and to renounce such expenditures to subscribers effective December 31, 2026.
All securities issued in connection with the Private Placement are subject to a statutory hold period in accordance with applicable securities laws. The Private Placement remains subject to final approval of the TSX Venture Exchange.
About Stakeholder Gold Corporation
Stakeholder holds 100% ownership of 1,140 contiguous mineral claims covering 22,700 hectares and spanning 20 km of the Coffee Mine Project's "Northern Access Route (NAR)", which is being developed through the geographical center of the White Gold District of the Yukon Territory, Canada. Stakeholder also maintains in good standing 10 claims located inside the adjacent Coffee Mine Project, which is being developed by Talamore Mining Corp. These combined claim holdings are referred to collectively as the Ballarat Gold-Copper Project ("Ballarat").
Within the Company's contiguous claim holdings, Stakeholder is advancing exploration on the Skye Gold Zone and the Loki Copper Zone - two compelling exploration targets separated by some 8 km, prospective for new gold and copper discoveries respectively, on either side of the Northern Access Route (NAR), in the heart of the White Gold District.
https://stakeholdergold.com/projects-overview/ballarat-gold-copper-project/
Stakeholder also generates cash flow from the production and sale of exotic stones through its 100%-owned Brazilian subsidiary Mineração VMC Ltda. ("VMC"). VMC is currently producing from 4 independent stone quarries and is pursuing opportunities to expand the sale and export of exotic stone building materials from Brazil.
Christopher J. Berlet B.A.Sc.(Mining), CFA, CEO & Director of Stakeholder is responsible for the content of this press release.
For further information please contact:
Stakeholder Gold Corporation
cberlet@stakeholdergold.com
416 525 - 6869
Forward Looking Information
This news release contains forward-looking information. All information, other than information of historical fact, constitute "forward-looking statements" and includes any information that addresses activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future including the Corporation's strategy, plans or future financial or operating performance.
When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking information. The forward-looking information is based on current expectations and applies only as of the date on which they were made. The factors that could cause actual results to differ materially from those indicated in such forward-looking information include, but are not limited to, the ability of the Corporation to fund the exploration expenditures required under the Agreement. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Corporation's annual financial statements, MD&A and other publicly filed documents.
The Corporation cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/308497
