Business
Golden Sky Minerals Corp. Closes C$3.43 Million Financing
VANCOUVER, British Columbia, July 09, 2021 (GLOBE NEWSWIRE) -- Golden Sky Minerals Corp. (AUEN.V) OTC (LCKYF) (the “Company” or “Golden Sky”) is pleased to anno
About this update from Golden Sky Minerals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, July 09, 2021 (GLOBE NEWSWIRE) -- Golden Sky Minerals Corp. (AUEN.V) OTC (LCKYF) (the “Company” or “Golden Sky”) is pleased to announce that, subject to regulatory approval, it has closed their private placement financing (the “Financing”) consisting of Non Flow Units and Flow-Through Units, for total gross proceeds of $3,343,148.88 “We are very proud to close this over-subscribed financing and we are grateful for the support of both new and existing strategic investors, including two institutional funds Crescat Capital LLC and the Cordillera Minerals 2021 Flow-Through Limited Partnership,” stated John Newell President “These funds will enable us to accelerate our exploration plans at both our Hotspot property in the Yukon Territories and the newly acquired Rayfield Project in south central British Columbia. We expect that 2021 will be a breakout year for Golden Sky Minerals, supported by this financing, allowing the company to deliver on our plans well into 2022.\" The Company has closed on 4,291,308 non-flow-through Units for gross proceeds of $1,802,349.36 (the “NFT Units”), each $0.42 NFT Unit consisting of 1 common share of the Company and 1 common share purchase warrant (the “Unit Warrants”), with each Unit Warrant being exercisable for an additional common share of the Company at $0.60 for 24 months from date of issuance, subject to the right of the Company to accelerate the exercise period should, after the expiration of the 4 month hold, shares of the Company trade close at or above $1.50 for 10 consecutive trading days. The Company has also closed on 2,963,076 flow-through units for gross proceeds of $1,540,799.52 (the “FT Units”), each $0.52 FT Unit consisting of 1 flow-through share and 1 common share purchase warrant (the “FT Unit Warrants”), with each full FT Unit Warrant being exercisable at $0.80 for a common share of the Company for 12 months from date of issuance, subject to the right of the Company to accelerate the exercise period should, after the expiration of the 4 month hold, shares of the Company trade close at or above $1.50 for 10 consecutive trading days. The flow-through shares will entitle the holder to receive tax benefits applicable to flow-through shares in accordance with the provisions of the Income Tax Act (Canada). On receipt of regulatory approval and in accorda...