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Goldshore Announces Closing of $5.75 Million Public Offering
Vancouver, British Columbia--(Newsfile Corp. - December 22, 2022) - Goldshore Resources Inc. (TS...
About this update from Gold X2 Mining Inc.
[{"type":"text","content":"Goldshore Announces Closing of $5.75 Million Public OfferingVancouver, British Columbia--(Newsfile Corp. - December 22, 2022) - Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (\"Goldshore\" or the \"Company\") is pleased to announce that it has closed its previously announced public offering (the \"Offering\"), for aggregate gross proceeds of approximately $5.75 million, including the full exercise of the over-allotment option. The Offering was led by Research Capital Corporation as the lead agent and sole bookrunner, on behalf of a syndicate of agents, including Laurentian Bank Securities, Canaccord Genuity Corp., Gravitas Securities Inc., and Red Cloud Securities Inc. (collectively, the \"Agents\"). The Company issued the following combination of securities (the \"Offered Securities\"):(i) 11,650,280 conventional units of the Company (\"Conventional Units\") at a price of $0.25 per Conventional Unit. Each Conventional Unit consists of one common share (each, a \"Common Share\") and one-half of one common share purchase warrant (each whole warrant, a \"Warrant\"); and(ii) 9,458,100 flow-through units of the Company (the \"FT Units\") at a price of $0.30 per FT Unit. Each FT Unit consists of one Common Share that will qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\") and one-half of one Warrant. Each Warrant will entitle the holder thereof to purchase one Common Share (a \"Warrant Share\") at an exercise price of $0.40 per Warrant Share until December 22, 2024.The net proceeds from the Offering of the Conventional Units will be used for working capital and general corporate purposes. The gross proceeds from the sale of FT Units will be used for exploration expenses on the Company's Moss Lake property, located in Ontario, as Canadian exploration expenses as defined in paragraph (f) of the definition of \"Canadian exploration expense\" in subsection 66.1(6) of the Tax Act and \"flow through mining expenditures\" as defined in subsection 127(9) of the Tax Act that will qualify as \"flow-through mining expenditures\" (the \"Qualifying Expenditures\"), which will be incurred on or before December 31, 2023 and renounced with an effective date no later than December 31, 2022 to the initial purchasers of FT Units. For additional details regarding...