Amarillo Gold Announces Brokered Financing to Raise $2,000,000

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[{"type":"text","content":"Amarillo Gold Announces Brokered Financing to Raise $2,000,000(via Thenewswire.ca)\n\n \nVancouver, BC / TheNewswire / October 24, 2016 - Amarillo Gold Corp. (TSX-V: AGC) (\"Amarillo\" or the \"Company\") is pleased to announce it has appointed Pollitt & Co. Inc. (the \"Agent\") to act as agent, on a best-efforts basis, for a private placement (the \"Private Placement\") to raise gross proceeds of up to $2 million by issuing 6,250,000 common shares of the Company at a price of $0.32 per share. \n\n\n \nThe Company intends to use the net proceeds of the Private Placement for general working capital purposes and further development of the Mara Rosa Project, including: \n\n\n \n-Update pre-feasibility study (the \"PFS\")\n\n\n \n-Tailings engineering\n\n\n \n-Related activities in preparation for a bankable feasibility study (the \"BFS\")\n\n\n \nThe securities issued pursuant to the Private Placement will be subject to a four-month hold period under applicable Canadian securities laws.\n\n\n \nIn consideration for their services, the Agent will receive a cash commission equal to 6% of the gross proceeds from the sale of the common shares. Pollitt & Co. Inc will also receive Broker Warrants that equal 6% of the number of shares issued in this financing. The broker Warrants will be exercisable at the same price of the financing for a period of 24 months starting from the date of the closing.\n\n\n \nThis news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Units, Common Shares or Warrants (the \"Securities\") in the United States or to, or for the account or benefit of, any U.S. person. The Securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or any securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or benefit of, any U.S. person unless an exemption from such registration requirements is available. \"United States\" and \"U.S. person\" are as defined in Regulation S under the U.S. Securities Act.\n\n\n \nAbout Amarillo Gold Corp.\n\n\n \nAmaril...

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