Green River Gold Corp. Announces Closing of Oversubscribed Private Placements of Flow-Through Shares and Units
Edmonton, Alberta--(Newsfile Corp. - September 1, 2022) - Further to its news releases dated July 21, 2022 and August 5, 2022, Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to announce that the Company has closed on the final tranche of the oversubscribed, previously announced non-brokered private placement offering of flow-through shares (the "Flow-Through Offering") and the oversubscribed, previously announced non-brokered private placement offering of units (the "Unit Offering").
Final Closing of Flow-Through Offering
In total, the Company issued 8,550,033 flow-through shares ("Flow-Through Shares") at a price of $0.075 per Flow-Through Share for gross proceeds of CAD$641,252.50.
No broker commissions were paid with respect to any closings which took place under the Flow-Through Offering. However, the Company paid an aggregate amount of $27,498.20 in cash finder's fees to certain finders, which amount equals 8% of the aggregate gross proceeds of subscriptions under the Flow-Through Offering facilitated by such finders.
The Company intends to use the proceeds of the Flow-Through Offering for the continued exploration drilling on the Quesnel Nickel Project.
Final Closing of Unit Offering
In total, the Company issued 3,615,085 units ("Units") under the Unit Offering at a price of $0.07 per Unit for gross proceeds of CAD$253,056.00. Each Unit consists of one common share ("Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase one Share at a price of $0.09 per Share expiring three years from the date of issuance, subject to acceleration provisions as set out below.
If the closing price of the Company's Shares on the Canadian Securities Exchange (the "CSE") (or such other principal exchange on which the Shares may be traded at such time) is equal to or greater than $0.20 for a period of ten (10) consecutive trading days, the Company may, at its sole option, accelerate the expiry date of Warrants to the date which is thirty (30) days following the date upon which notice of the accelerated expiry date is provided by the Company (given by way of news release).
No broker commissions were paid with respect to any closings which took place under the Unit Offering. However, the Company paid an aggregate amount of $6,684.00 in cash finder's fees to certain finders, which amount equals 8% of the aggregate gross proceeds of subscriptions under the Unit Offering facilitated by such finders.
The Company intends to use the proceeds of the Unit Offering for the exploration of the Company's mining properties, acquisition of drilling equipment and supplies, working capital and general corporate purposes.
The securities issued under both the Flow-Through Offering and the Unit Offering are subject to a four month and a day hold period from the date of issuance.
About Green River Gold Corp.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly owned Fontaine Gold Project, Quesnel Nickel/Magnesium/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The Fontaine and Quesnel properties straddle an 18 km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Silver Project is located in southeast BC, approximately 28 kilometers west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totaling 1,625 hectares, along the southeast flank of Mount Catherine.
For more information contact:
Green River Gold Corp.
Mr. Perry Little - President and Chief Executive Officer
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.
Forward-Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumption. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been 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 an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135777