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Artemis Gold Announces Non-Brokered Private Placement of $1,362,500 and Granting of Stock Options
VANCOUVER, BC, Aug. 27, 2020 /CNW/ - ARTEMIS GOLD INC. ("Artemis" or the "Company") is pleased to announce that pursuant to the terms of an employment agreement
About this update from Artemis Gold Inc
[{"type":"text","content":" VANCOUVER, BC, Aug. 27, 2020 /CNW/ - ARTEMIS GOLD INC. (\"Artemis\" or the \"Company\") is pleased to announce that pursuant to the terms of an employment agreement between Mr. Nick Campbell and the Company (as previously announced on August 24, 2020) it intends to complete a non-brokered private placement to Mr. Campbell for gross proceeds of $1,362,500 (the \"Private Placement\"). The Company expects to use the net proceeds from the Private Placement towards advancing its recently acquired Blackwater Gold Project in Central British Columbia, as well as for general working capital. The Private Placement will result in the Company issuing to Mr. Campbell 250,000 common shares of the Company (the \"Shares\") at a price of $5.45 per Share, representing a 5% premium to the closing market price of the Company on August 27, 2020. The Private Placement is subject to certain conditions including, but not limited to, receipt of all required regulatory approvals. The Shares issued by the Company in connection with the Private Placement will be subject to a 4-month and one day \"hold period\" as prescribed by applicable securities laws. Stock Option Grant The Company also announces that the board of directors of the Company has approved the grant of an aggregate of 2,900,000 incentive stock options (the \"Options\") pursuant to the Company's Stock Option Plan, to directors, officers and employees of the Company. The Options are exercisable at a price of $5.19 per Share, being the closing Share price of the Company on August 27, 2020 on www.tmxmoney.com, expiring on August 27, 2025. ARTEMIS GOLD INC.On behalf of the Board of Directors \"Steven Dean\"Chairman and Chief Executive Officer+1 604 558 1107 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Information This news release contains certain \"forward looking statements\" and certain \"forward-looking information\" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as \"may\", \"will\", \"expect\", \"intend\", \"estimate\", \"anticipate...