Business
Ashley Gold Announces $1,000,000 Financing and Expands Utah Land Package
CALGARY, ALBERTA – TheNewswire - June 24, 2024 - Ashley Gold Corp. (CSE: ASHL) (“Ashley” or the “Company”) announces a non-brokered private placement financing
About this update from Ashley Gold Corp.
[{"type":"text","content":"CALGARY, ALBERTA – TheNewswire - June 24, 2024 - Ashley Gold Corp. (CSE: ASHL) (“Ashley” or the “Company”) announces a non-brokered private placement financing (the “Offering”) for aggregate proceeds of up to $1,000,000 (CDN) for exploration and working capital. In addition an amendment to the Sahara Option Agreement adds an additional 204 claims adjacent to the existing Sahara Property. Darcy Christian, CEO of Ashley comments “Our assets are all advancing nicely and it is time to deploy additional exploration capital in the form of drilling this summer. I am happy to announce that Sorbie Borholm, the majority shareholder of the Sahara Property, has committed to 25% of financing. In addition, we have increased the Sahara property by adding an additional 204 claims to the existing 402 claims and 3 state leases creating one of the largest Uranium-Vanadium land package in the Area.” Financing Terms and Use of Proceeds The Offering is comprised of up to 10,000,000 units (“Units”) at a price of $0.075 per Unit for gross proceeds of up to $1,000,000. Each Unit is comprised of one common share and one common share purchase warrant (“Warrant”), with each full Warrant exercisable at an exercise price of $0.12 for a term of 36 months after the closing (“Closing Date”). If, on any 10 consecutive trading days occurring after four months and one day has elapsed following the Closing Date of the Offering, the closing sales price of the common shares (or the closing bid, if no sales were reported on a trading day) as quoted on the Canadian Securities Exchange is greater than CDN$0.20 per common share, the Company may provide notice in writing to the holders of the warrants by issuance of a press release that the expiry date of the warrants will be accelerated to the 30th day after the date on which the Company issues such press release. In connection with the issue and sale of the Units under the Offering, the Company may pay finder fees and finder warrants to eligible finders at the discretion of the board of directors. The gross proceeds will be used for exploration and general working capital The Existing Shareholder Exemption and Investment Dealer Exemption The Offering will be made available to existing shareholders of the Company who, as of the close of business on May 8, 2024, held common shares of the Company (and who...