Business
Golden Pursuit Raising up to $900,000 to Advance Gordon Lake Project
(TheNewswire) Vancouver, B.C., Canada - TheNewswire - November 8, 2021 - ...
About this update from Golden Pursuit Resources Ltd.
[{"type":"text","content":"Golden Pursuit Raising up to $900,000 to Advance Gordon Lake Project\n \n \n (TheNewswire)\n \n \n \n Vancouver, B.C., Canada -\n \n \n TheNewswire -\n \n \n November 8, 2021 -\n \n \n Golden Pursuit Resources Ltd. (the “Company”)\n \n \n (TSXV:GDP) OTC:FPVTF)\n \n \n will\nraise up to $900,000 through a non-brokered private placement\nconsisting of up to 2,000,000 non-flow-through common shares at $0.15\nper shares and up to 4,000,000 flow-through common shares at $0.15 per\nshare. The Company will pay finders fees comprised of a combination of\ncash and warrants.\n \n \n \n \n The flow-through shares will qualify as “flow-through\nshares” for the purposes of the Income Tax Act (Canada) (the\n“Act”). The Proceeds of the flow-through private placement will be\nused to incur “Canadian exploration expense” (within the meaning\nof the Act). The Company will renounce these expenses to the\npurchasers with an effective date of no later than December 31, 2022,\nand as required under the Act.\n \n \n \n \n The company will use the financing to primarily\nadvance the Gordon Lake Project. The company is in the process of\nsubmitting a land use permit to the Mackenzie Valley Land and Water\nBoard to cover line cutting, ground and airborne geophysics, camp\nbuild, geological and geochemical sampling, geological mapping and\ndiamond drilling. We expect the permit to be issued shortly. Non\nflow-through funds\n \n \n will be used for generating\nadditional projects and general working capital.\n \n \n \n \n The company will work systematically towards a drill\nprogram to optimize target selection. Significant historical\nintersections have been returned at Kidney Pond (65.92 g/t Au over\n4.54 meters) with the largest intersection returning 4.36 g/t Au over\n44.7 meters.  For instance, we are establishing geophysical template\nat Kidney Pond to help evaluate other areas where quartz breccia\nzones have been found.\n \n \n \n \n Golden Pursuit is committed to establishing a compliant\nresource at Kidney Pond but also looking to identify additional\nresources.\n \n \n \n \n All securities issued will be subject to a four month\nhold period which will expire on the date that is four months and one\nday from the date of issue.\n \n \n \n...