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Goldshore Announces Closing of $1 Million Private Placement
Vancouver, British Columbia--(Newsfile Corp. - December 30, 2022) - Goldshore Resources Inc. (TS...
About this update from Gold X2 Mining Inc.
[{"type":"text","content":"Goldshore Announces Closing of $1 Million Private PlacementVancouver, British Columbia--(Newsfile Corp. - December 30, 2022) - Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (\"Goldshore\" or the \"Company\") is pleased to announce that it has closed a non-brokered private placement of 4,166,720 units (each, a \"Unit\") at a price of $0.25 per Unit for gross proceeds of $1,041,680 (the \"Financing\"). Each Unit issued in connection with the Financing is comprised of one common share of the Company (each, a \"Common Share\") and one-half common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant shall entitle the holder thereof to purchase one Common Share at an exercise price of $0.40 at any time up to 24 months from the closing of the Financing. In connection with the Financing, the Company paid finders' fees of $500 to eligible finders, as permitted by applicable securities laws and the rules of the TSX Venture Exchange.The Company intends to use the proceeds raised from the Financing for future exploration work on its Moss Lake gold deposit in Northwest Ontario, Canada and for general working capital purposes.Certain insiders of the Company participated in the Financing and purchased an aggregate of 40,000 Units. The insider participation in the Financing constitutes a related party transaction pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Financing as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved related parties, exceeded 25% of the Company's market capitalization as determined under MI 61-101.The securities issued pursuant to the Financing will be subject to a four-month and one day hold period under applicable securities laws in Canada. Closing of the Financing is subject to final approval by the TSX Venture Exchange.This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdic...