Business
Ashley Gold Announces Non-Brokered Private Placement
Calgary, Alberta – TheNewswire – May 10, 2023 - Ashley Gold Corp. (CSE:ASHL) (“Ashley” or the “Company”) is pleased to announce that, subject to approval of the
About this update from Ashley Gold Corp.
[{"type":"text","content":"Calgary, Alberta – TheNewswire – May 10, 2023 - Ashley Gold Corp. (CSE:ASHL) (“Ashley” or the “Company”) is pleased to announce that, subject to approval of the Canadian Stock Exchange (the “Exchange”), it intends to complete a non‑brokered private placement (the “Private Placement”) of up to 7,142,857 units (the “Units”) at a price of $0.07 per Unit, for gross proceeds of up to $500,000. Each Unit will consist of one common share (a “Share”) of the Company and one common share purchase warrant exercisable at $0.12 per Share for a period of three (2) years from the closing date of the Private Placement. The purchase warrants will be subject to an acceleration expiry provision described below. If, on any 10 consecutive trading days following the closing date of the Offering, the closing sales price of the Shares (or the closing bid, if no sales were reported on a trading day) as quoted on the Canadian Securities Exchange (“Exchange”) is greater than CAD $0.18 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. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), the securities will be offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the “Listed Issuer Financing Exemption”), as well as other available exemptions under NI 45-106. The securities to be issued pursuant to the Listed Issuer Financing Exemption will not be subject to a hold period pursuant to applicable Canadian securities laws, except for the Securities to be issued to directors, officers, promoters, consultants, insiders and other persons whose shares will be subject to the hold period required by the Policies of the Exchange. Securities to be issued pursuant to the other available exemptions are subject to a hold period. Finder’s fees may be payable in accordance with Exchange policies. The Company anticipates using the proceeds from the Private Placement for exploration activities on the Company’s properties in Ontario and ...