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Goldcliff Resource Announces Unit and Flow Through “LIFE” Offerings
VANCOUVER, British Columbia, March 16, 2023 (GLOBE NEWSWIRE) -- George Sanders, President of Goldcliff Resource Corporation (“Goldcliff” or the “Company”) (GCN:
About this update from Goldcliff Resource Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, March 16, 2023 (GLOBE NEWSWIRE) -- George Sanders, President of Goldcliff Resource Corporation (“Goldcliff” or the “Company”) (GCN: TSX.V, GCFFF: OTCBB PINKS) is pleased to announce a proposed non-brokered private placement for aggregate gross proceeds of $440,000 (the “Private Placement”). The Private Placement will consist of the issuance of: (i) up to 4,000,000 units (each, a “NFT Unit”), at a price of $0.05 per NFT Unit, with each NFT Unit comprising one common share of the Company (each, a “Common Share”) and one half of one non-transferrable Common Share purchase warrant (each whole warrant, a “Warrant”); and (ii) up to 4,000,000 flow-through shares (“FT Shares”), at a price of $0.06 per FT Share, with each FT Share comprising one Common Share which qualifies as a “flow-through share” within the meaning of the Income Tax Act (Canada). Each Warrant will entitle the holder to acquire an additional Common Share at an exercise price of $0.08 per Common Share for a period of 24 months. The Private Placement is being conducted in reliance upon the Listed Issuer Financing Exemption. There is an offering document (the “Offering Document”) related to this Private Placement that can be accessed under the Company’s profile at www.sedar.com and at www.goldcliff.com. Prospective investors should read this Offering Document before making an investment decision. Proceeds from the NFT Unit offering will be applied to property payments on Aurora West and Kettle Valley projects, and to general working capital. Proceeds from the FT Share offering will be applied to further drill site access at Kettle Valley, additional mapping and sampling of the new drill trail, to detailed follow up geochemical sampling and prospecting at Panorama Ridge, and to a data compilation and geologic summary at Ainsworth silver project, as Canadian exploration expenses that will qualify as \"flow-through mining expenditures\" within the meaning of the Income Tax Act (Canada), and which will be incurred on or before December 31, 2024 and renounced with an effective date no later than December 31, 2023 to the initial purchasers of FT Shares. All three projects are located in British Columbia. The Private Placement is anticipated to close on or about April 14, 2023 (\"Closing\"), or such later date as the Company may determine. The Closi...