Business
Guardian Executed Definitive Agreement for Proposed Acquisition of Yukon Mining Property
Calgary, Alberta--(Newsfile Corp. - August 18, 2020) - Guardian Exploration Inc. (TSXV: GX) (t...
About this update from Guardian Exploration Inc.
[{"type":"text","content":"Guardian Executed Definitive Agreement for Proposed Acquisition of Yukon Mining PropertyCalgary, Alberta--(Newsfile Corp. - August 18, 2020) - Guardian Exploration Inc. (TSXV: GX) (the \"Corporation\") is pleased to announces that it has executed a definitive agreement with Graydon Kowal and DG Resources Management Ltd. (the \"Vendors\") for the purchase from the Vendors of mining assets (the \"Assets\") located in the Mayo Mining District in the Yukon known as the Mount Cameron Property (the \"Acquisition\") upon terms previously disclosed in the Corporation's press release dated May 21, 2020. In connection with the Acquisition, the Corporation intends to complete a private placement of a minimum of 6,000,000 Common Shares and a maximum of 10,000,000 Common Shares at a price of $0.05 per Common Share for total gross proceeds of between $300,000.00 and $500,000.00 (the \"Private Placement\"). The Corporation has received conditional approval for the Acquisition and Private Placement from the TSX Venture Exchange (the \"TSXV\"). The TSXV's approval for the Private Placement expires on September 3, 2020. If the Private Placement fails to close within the aforementioned deadline, the Corporation intends to re-apply for approval from the TSXV. Further approval from the TSXV or extensions thereof are not guaranteed.The TSXV's approval for the Acquisition has no definite expiration. The Corporation intends to disseminate an updating news release at least every 30 days announcing the status of the Acquisition. The definitive agreement allows for the termination of the agreement in the event that the Acquisition does not close by October 31, 2020, unless extended by mutual agreement of the parties. FOR FURTHER INFORMATION, PLEASE CONTACT:Graydon KowalPresident and CEO(403) 730-6333Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward Looking Statements: This press release contains forward-looking statements which reflect management's expectations regarding future growth, results of operations, performance and business prospects of the Corporation. These forward-looking statements may relate to, among other things, forecasts or expectations regarding business outlook for the Cor...