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Golden Shield Resources Amends Private Placement Terms
VANCOUVER, BC, June 22, 2022 /CNW/ - Golden Shield Resources Corp. (CSE: GSRI) (Frankfurt: 4LE0) ("Golden Shield" or the "Company") announced today that it has
About this update from Golden Shield Resources Inc.
[{"type":"text","content":" VANCOUVER, BC, June 22, 2022 /CNW/ - Golden Shield Resources Corp. (CSE: GSRI) (Frankfurt: 4LE0) (\"Golden Shield\" or the \"Company\") announced today that it has amended the terms of its private placement previously announced on June 9, 2022 (the \"Offering\"). Under the amended terms of the Offering, Canaccord Genuity Corp. (the \"Agent\") will act as agent for the Company on a 'best efforts' agency basis in connection with a private placement of up to 4,651,162 units (the \"Units\") of the Company at a price of C$0.43 per Unit (the \"Offering Price\") for gross proceeds to the Company of up to approximately C$2,000,000. Each Unit will consist of one common share in the capital of the Company (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one Common Share (a \"Warrant Share\") at a price of C$0.60 for a period of 24 months following the closing date of the Offering. The Company has agreed to grant the Agent an option (the \"Over-Allotment Option\") to sell up to an additional 697,674 Units at the Offering Price, exercisable in whole or in part, at any time up to 48 hours prior to the closing of the Offering to cover over-allotments, if any. If the Over-Allotment Option is exercised in full, approximately an additional C$300,000 in gross proceeds will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be approximately C$2,300,000. The net proceeds from the Offering will be used to advance exploration on the Company's properties in Guyana, as well as for working capital and general corporate purposes. The Units will be offered for sale by way of private placement pursuant to applicable exemptions from the prospectus requirements in all of the Provinces of Canada. The Agent will also be entitled to offer the Units for sale in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in those other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation arises in such other jurisdiction. The Offering is scheduled to close on or about July 5, 2022 and is subject to certain conditions including, but not limited to, the receipt of all nec...