Business
Gossan Resources Announces Closing of Private Placement of Units
Winnipeg, Manitoba--(Newsfile Corp. - May 13, 2022) - Gossan Resources Limited (TSXV: GSS) (...
About this update from Gossan Resources Limited
[{"type":"text","content":"Gossan Resources Announces Closing of Private Placement of UnitsWinnipeg, Manitoba--(Newsfile Corp. - May 13, 2022) - Gossan Resources Limited (TSXV: GSS) (FSE: GSR) (XETRA: GSR) (the \"Company\" or \"Gossan\") is pleased to announce that, further to its press releases of April 18, 2022 and May 4, 2022, the Company has closed a non-brokered private placement through the issuance of 5,500,000 units (each, a \"Unit\") at a price of $0.16 per Unit for aggregate gross proceeds of $880,000 (the \"Offering\"). Each Unit consists of one common share (each, a \"Common Share\") in the capital of the Company and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.24 per Common Share for a period of two (2) years from the closing of the Offering.All securities issued pursuant to the Offering are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The proceeds from the Offering will be used by the Company for corporate and general working capital purposes and to advance its Gander Property. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.Prior to the completion of the Offering, Douglas Reeson owns and controls 6,371,000 Common Shares of the Company and 760,000 stock options of the Company, representing approximately 10.47% of the Company's issued and outstanding Common Shares on a non-diluted basis and approximately 11.57% of the Company's issued and outstanding Common Shares on a partially diluted basis, assuming the exercise of all of the stock options held by...