Business
Sandy Lake Gold Inc. Announces Closing of Second Tranche of Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S. TORONTO, March 04, 2019 (GLOBE NEWSWIRE) -- Sandy Lake Gold Inc. (“Sandy Lake”
About this update from G2 Goldfields, Inc.
[{"type":"text","content":" NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S. TORONTO, March 04, 2019 (GLOBE NEWSWIRE) -- Sandy Lake Gold Inc. (“Sandy Lake” or the “Corporation”) (TSX-V:SLAU) is pleased to announce that it has closed the second tranche of its previously announced non-brokered private placement financing, pursuant to which it has issued an aggregate of 9,041,000 units (the “Units”) at a price of $0.10 per Unit for aggregate gross proceeds of $904,100 (the “Second Tranche Closing”). Each Unit is comprised of one common share in the capital of the Corporation (a “Share”) and one-half of one (1/2) share purchase warrant. Each whole share purchase warrant is exercisable to purchase one additional Share at a price of $0.20 for a period of 24 months from the Second Tranche Closing, provided that if at any time after July 5, 2019, the closing price of the Shares on the principal market on which such Shares trade is at least $0.30 for more than 20 consecutive trading days, the expiry date will be accelerated to the date which is 30 days following the dissemination by the Corporation of a press release announcing such acceleration. In connection with the Second Tranche Closing, the Corporation has issued an aggregate of 305,460 non-transferrable compensation warrants to certain eligible registrants assisting in the financing, each exercisable to acquire one Share at a price of $0.20 for a period of 24 months following the Second Tranche Closing. All securities issued and issuable in connection with the Second Tranche Closing are subject to a statutory hold period expiring on July 5, 2019. The Offering remains subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. About Sandy Lake Gold Inc. Sandy Lake Gold Inc. is a Toronto based mineral exploration company focused on the exploration and development of the Sandy Lake Gold project in Canada and proposed to acquire the Aremu Oko and Peters Mine properties in Guyana. For further information please contact: Patrick SheridanExecutive Chairman & CEO(416) 628-5904Email: [email protected] Forward Looking Statements This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. T...