Business
Angold Announces Closing of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - March 1, 2023) - Angold Resources Ltd.  (TS...
About this update from Aero Energy Limited
[{"type":"text","content":"Angold Announces Closing of Private PlacementVancouver, British Columbia--(Newsfile Corp. - March 1, 2023) - Angold Resources Ltd.  (TSXV: AAU) (OTCQB: AAUGF) (FSE: 13L) (\"Angold\" or the \"Company\") has completed its previously announced non-brokered private placement and has issued 10,250,000 shares of the Company at a price of $0.02 for aggregate gross proceeds of $205,000 (the \"Offering\").The proceeds from the Offering will be used for financing existing operations and future geological work on the Company's projects, of which one-half is expected to be used for general and administrative expenses and the balance for exploration and property maintenance. At this time, the Company does not propose to make any payments to related parties, and none of the proceeds from the Offering will be used for investor relations activities. No finders' fees or commissions were paid in connection with completion of the Offering. All securities issued are subject to restrictions on resale until June 29, 2023 in accordance with applicable securities laws.The Offering included participation by an officer of the Company, through a holding company controlled by that officer, in the amount of $50,000. Such participation constitutes a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The issuance of securities to the officer of the Company is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company's shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101, in that the fair market value of the consideration of the securities issued to the officer does not exceed 25% of the Company's market capitalization.About Angold Resources Ltd.Angold is an exploration and development company targeting large-scale mineral systems in proven gold districts in Chile, Nevada, Oregon and Ontario.ON BEHALF OF THE BOARD OF ANGOLD RESOURCES LTD.\"Galen McNamara\"Chairman and Interim CEOFurther information on Angold can be found on the Company's website at www.angoldresources.com and at www.sedar.com, or by contacting the Company by email at i...