Beauce Gold Fields Closes Fully Subscribed Private Placement of 6,000,000 Units

About this update from Beauce Gold Fields, Inc.

[{"type":"text","content":"Beauce Gold Fields Closes Fully Subscribed Private Placement of 6,000,000 UnitsMontreal, Quebec--(Newsfile Corp. - June 10, 2022) - Beauce Gold Fields (Champs D'Or en Beauce) (TSXV: BGF), (\"BGF\" or the \"Company\"): is pleased to announce it is closing its previously announced non-brokered private placement of 6 million units at a price of $0.06 per unit for gross proceeds of $360,000.00.Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share in the capital of the company at a price of $0.10 for a period of three (3) years from the date of closing of the placement. Each share issued pursuant to the placement will have a mandatory four-month-and-one-day hold period from the date of closing of the placement. The placement is subject to standard regulatory approvals including the approval of the exchange. The proceeds of the placement will be used: (i) to finance exploration and (ii) for general corporate purposes. In connection with the placement, the company will pay as cash finders' fees, $3,500 to Jean-David Moore of Quebec, Quebec, $2,310 to StephenAvenue Securities Inc, of Toronto, Ontario, and $1,890 to GloRes Securities Inc. of Whitchurch-Stoufville, Ontario. The company will also issue 58,333 warrants to Jean-David Moore, 38,500 warrants to StephenAvenue Securities Inc and 31,500 warrants to GleRes Securities Inc. Those warrants will have the same rights and the same hold-period as the placement warrants. Insiders subscribed for 2 961 650 units in the placement. Patrick Levasseur, through his company Ice Age GoldCorp. has subscribed for 2,920,000 units and Lam Chan Tho through his company 9228-6202 Quebec Inc has subscribed for 41,650 units. Following the completion of the private placement, Mr Levasseur and Mr Tho will respectively beneficially own or exercise control or direction over, directly or indirectly, 4,141,622 shares representing 7.35% and 854,173 shares representing 1,53% of the issued and outstanding common shares of the company.The participation of Mr Levasseur and Mr Tho in the private placement constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions, and TSX Venture Exchange ...

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