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Havilah Announces Non-Brokered Flow-Through Private Placement Financing of Up to $4,000,000
Havilah Announces Non-Brokered Flow-Through Private Placement Financing of Up to $4,000,00...
About this update from 1911 Gold Corp.
[{"type":"text","content":"\n\n\n\n\nHavilah Announces Non-Brokered Flow-Through Private Placement Financing of Up to $4,000,000\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, March 5, 2019\n\n\n\nTORONTO, March 5, 2019 /CNW/ - Havilah Mining Corporation (\"Havilah\" or the \"Company\") (TSXV: HMC) is pleased to announce a non-brokered private placement financing of up to 8,333,333 flow-through common shares (\"FT Shares\") at a price of $0.48 per FT Share for gross proceeds of up to $4,000,000.\n\n \n \n\n \nThis financing is subject to regulatory approval and all securities to be issued pursuant to the financing will be subject to a four-month hold period under applicable Canadian securities laws. \nThe Company has engaged Canaccord Genuity Corp. to act as its financial advisor for the offering. The Company may compensate persons who act as finders for the Offering in accordance with the rules of the TSX Venture Exchange.\nThe gross proceeds from the sale of the FT Shares will be used to incur eligible Canadian Exploration Expenses (\"CEE\") at the Company's True North project for exploration of the Rice Lake greenstone belt located in Manitoba, Canada. The Company will renounce CEE effective on or before December 31, 2019. The financing is expected to close on or about March 18, 2019.\nAbout the Rice Lake greenstone belt\nThe Rice Lake greenstone belt is situated at the western extent of the Uchi Subprovince of the Archean Superior Province, approximately 150 kilometres northeast of Winnipeg, Manitoba and 110 kilometres west of Red Lake, Ontario. It represents the Manitoba extension of the Red Lake and Birch-Uchi greenstone belts in Ontario, which have collectedly produced in excess of 30 million ounces of gold. Like the Red Lake belt, the Rice Lake belt records more than 300 million years of magmatism, sedimentation and orogenic activity along the south margin of the North Caribou Terrane – the ancient nucleus of the western Superior Province. Additionally, the Rice Lake belt is bounded by crustal-scale faults and contains fault-controlled bas...