Business
Guardian Provides Update on Proposed Acquisition of Yukon Mining Property
Calgary, Alberta--(Newsfile Corp. - January 15, 2021) -  January 15, 2021. Guardian Explo...
About this update from Guardian Exploration Inc.
[{"type":"text","content":"Guardian Provides Update on Proposed Acquisition of Yukon Mining PropertyCalgary, Alberta--(Newsfile Corp. - January 15, 2021) -  January 15, 2021. Guardian Exploration Inc. (TSXV: GX) (the \"Corporation\") is pleased to provide an additional update on its proposed acquisition of mining assets located in the Mayo Mining District in the Yukon known as the Mount Cameron Property (the \"Acquisition\").The Corporation continues to pursue the completion of the Acquisition. The definitive agreement with respect to the Acquisition allows for the termination of the agreement in the event that the Acquisition does not close by February 28, 2021, unless extended by mutual agreement of the parties. The previous termination date was extended by the parties to February 28, 2021 on January 15, 2021. In connection with the Acquisition, the Corporation will complete a private placement (the \"Private Placement\") of a minimum of $300,000 and a maximum of $500,000, of which up to $300,000 may be raised through the issuance of units (\"Flow-Through Units\") and the remainder to be issued through the sale of non-flow through units (\"Ordinary Units\"). Flow-Through Units will be offered at a price of $0.10 per unit and will consist of one Common Share issued on a tax flow-through basis and one warrant issued on a tax flow-through basis (\"Flow Through Warrant\"). Each Flow-Through Warrant will entitle the holder to purchase one non-flow-through Common Share (\"Ordinary Share\") at a price of $0.15 for a period of three years from the date of issuance. In the event that the Common Shares of the Corporation trade at a closing price on the TSX Venture Exchange (the \"TSXV\") of greater than $0.15 per share for a period of 30 consecutive trading days at any time after the closing date, the Corporation may accelerate the expiry date of the Flow-Through Warrants by giving notice to the holders thereof and in such case such warrants will expire on the 30th day after the date on which such notice is given by the Corporation.Ordinary Units issued under the Private Placement will be offered at a price of $0.05 per unit and will consist of one Ordinary Share and one non-flow-through warrant (\"Ordinary Warrant\"). Each Ordinary Warrant will entitle the holder to purchase one additional Ordinary Share at a price of $0.25 for a period of three years from ...