Business
Golden Sky Minerals Corp Welcomes Strategic Investors Crescat Capital LLC. and Announces $3 Million Non-Brokered Private Placement
VANCOUVER, British Columbia, June 23, 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, June 23, 2021 (GLOBE NEWSWIRE) -- Golden Sky Minerals Corp. (AUEN.V) OTC (LCKYF) (the “Company” or “Golden Sky”) is pleased to announce that, subject to TSX Venture Exchange (the “Exchange”) approval, it intends to complete a private placement financing (the “ Private Placement ”) of up to 3,571,428 non-flow-through units (the “ NFT Units ”) at a price of CAD$0.42 per NFT Unit and up to 2,884,615 flow-through units (“FT Units”), priced at $0.52 per FT Unit for total gross proceeds of up to $3,000,000. The Private Placement is expected to close July 8th, 2021. The non-flow-through funding will consist of up to 3,571,428 $0.42 NFT Units for gross proceeds of up to $1,500,000.00. Each NFT Unit will consist of one common share plus one common share purchase warrant entitling the holder to purchase an additional common share at $0.60 for a twenty-four-month period. The Company anticipates that Crescat Capital LLC (\"Crescat\") will make a strategic investment in the non-flow-through portion of the Private Placement, representing a 7.6 % - ownership of the Company on a non-diluted bases and a 11.5 % ownership on a partially diluted basis after the Private Placement. The Company anticipates it will also enter into an agreement with Crescat granting it an option to participate in future financings to maintain its pro rata interest in the Company, until such time as Crescat holds 3% of the issued and outstanding shares of Golden Sky. On closing, Crescat will hold 1,430,000.00 NFT Units, representing 1,430,000 common shares and 1,430,000.00 common share purchase warrants, or 11.5% of the outstanding shares. The flow-through funding will consist of up to 2,884,615 $0.52 FT Units for gross proceeds of up to $1,500,000.00. Each FT Unit will consist of one flow-through common share plus one common share purchase warrant entitling the holder to purchase an additional common share at $0.80 for a twelve-month period. The Company anticipates that Cordillera Minerals Group Ltd. (“Cordillera”) will make a strategic investment in the flow-through portion of the Private Placement, representing a 7.50% per-cent ownership of the Company on a non-diluted bases and a 11.00% ownership on a partially diluted basis after the Private Placement. On closing, Cordillera would hold 1,400,000.00 FT Units rep...