Hanstone Gold Announces C$1 Million Private Placement Financing

About this update from Hanstone Gold Corp.

[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 02, 2021 (GLOBE NEWSWIRE) -- Hanstone Gold Corp. (TSXV: HANS) (FSE: HGO) (\"Hanstone\" or the \"Company\"), announces that it will conduct a non-brokered private placement (the “Offering”), consisting of: (i) units of the Company (the “Units”) at a price of $0.28 per Unit, and (ii) flow-through units of the Company (the “FT Units”) at a price of $0.30 per FT Unit. There is no minimum Offering amount. The maximum number of securities that could be issued under the Offering is 3,571,428 Units, which would result in aggregate gross proceeds of $1,000,000. Each Unit will be comprised of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant shall be exercisable to acquire one Common Share (a “Warrant Share”) at a price of $0.32 per Warrant Share for a period of 24 months from the date of issuance. Each FT Unit shall consist of one Common Share of the Company which will qualify as a “flow-through share” (within the meaning of the Income Tax Act (Canada)) (each, a “FT Common Share”) and one Common Share purchase warrant (a “FT Warrant”). Each FT Warrant shall be exercisable to acquire one Common Share (a “FT Warrant Share”) at a price of $0.35 per Warrant Share for a period of 24 months from the date of issuance. The Company intends to use the proceeds from the Offering for its ongoing exploration drilling program, working capital requirements and other general corporate purposes. The proceeds received by the Company from the sale of FT Units will be used to incur eligible \"Canadian exploration expenses\" (“CEE”) that are \"flow-through mining expenditures\" (as such term is defined in the Income Tax Act (Canada)) related to the Company’s Doc and Snip North projects. The Company will renounce such CEE to the purchasers of the FT Units with an effective date of no later than December 31, 2021. The proceeds received by the Company from the sale of Units will be used for working capital requirements and other general corporate purposes. The Company estimates that approximately $500,000 will be raised through the sale of Units and approximately $500,000 will be raised through the sale of FT Units, if the maximum Offering is completed. The closing of the Offering is subject to the receipt of the approval of the TSX Venture Exchange. ...

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