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Goldshore Resources Announces Brokered Private Placement of up to $7 Million Flow-Through Shares and Premium Flow-Through Shares
Vancouver, British Columbia--(Newsfile Corp. - November 1, 2021) - Goldshore Resources Inc. ...
About this update from Gold X2 Mining Inc.
[{"type":"text","content":"Goldshore Resources Announces Brokered Private Placement of up to $7 Million Flow-Through Shares and Premium Flow-Through SharesVancouver, British Columbia--(Newsfile Corp. - November 1, 2021) - Goldshore Resources Inc. (TSXV: GSHR) (OTC Pink: GSHRF) (FSE: 8X00) (\"Goldshore\" or the \"Company\") is pleased to announce that it has entered into an engagement letter with Eventus Capital Corp., as lead agent and sole bookrunner (the \"Lead Agent\"), on its own behalf and on behalf of a syndicate of agents to be formed (together with the Lead Agent, the \"Agents\"), in connection with a brokered private placement of flow-through shares (each, a \"FT Share\") at a price of $0.65 per FT Share, and premium flow-through shares (each, a \"Premium FT Share\" and, collectively with the FT Shares, the \"Offered Shares\") at a price of $0.76 per Premium FT Share, for aggregate gross proceeds of up to $7,000,000 (the \"Offering\"). Up to 12,384,615 Offered Shares will be issued pursuant to the Offering assuming exercise of the Agent's Option (as defined below). The Company has granted to the Agents an option (the \"Agent's Option\"), exercisable up to 48 hours prior to the closing date of the Offering, to sell up to an additional 15% of the Offered Shares at a price of $0.65 per FT Share and $0.76 per Premium FT Share. The Company has agreed to pay to the Agents a cash commission equal to 6% of the gross proceeds of the Offering, of which 3% will be payable in cash and 3% will be payable through the issuance of common shares of the Company at a price of $0.65. In addition, the Company has agreed to issue to the Agents compensation warrants of the Company exercisable for a period of 24 months, to acquire in aggregate that number of common shares of the Company which is equal to 6% of the number of Offered Shares sold under the Offering at an exercise price of $0.65.The Company intends to use the proceeds raised from the Offering for future exploration work on its Moss Lake gold deposit in Northwest Ontario, Canada.The gross proceeds from the issuance of the Offered Shares will be used for \"Canadian Exploration Expenses\" within the meaning of the Income Tax Act (Canada) (the \"Qualifying Expenditures\"), which will be renounced with an effective date no later than December 31, 2021 to the purchasers of the Offered Shares in an aggregate amoun...