Business
Angold Announces Private Placement for Proceeds of up to $250,000
Vancouver, British Columbia--(Newsfile Corp. - February 2, 2023) - Angold Resources Ltd. ( TSXV: ...
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[{"type":"text","content":"Angold Announces Private Placement for Proceeds of up to $250,000Vancouver, British Columbia--(Newsfile Corp. - February 2, 2023) - Angold Resources Ltd. (TSXV: AAU) (OTCQB: AAUGF) (FSE: 13L) (\"Angold\" or the \"Company\") announces that it will be completing a non-brokered private placement of up to 10,000,000 common shares of the company at a price of $0.025 for aggregate gross proceeds of up to $250,000 (the \"Offering\").The Offering is subject to approval of the TSX Venture Exchange, and all securities issued will be subject to a four month hold period under Canadian securities laws. 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. The proceeds from the Offering will be used for financing existing operations and future geological work on the Company's projects. One-half of the funds raised is expected to be used for general and administrative expenses with the balance to be used for exploration and property maintenance.This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.Related parties of the Company may participate in the Private Placement, although the extent of their participation is undetermined at this time. To the extent the Private Placement 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 to related parties will be 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. The issuance to related parties is expected to be exempt from t...