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Independence Gold to Further Increase Private Placement to Raise Up to $2.1 Million
VANCOUVER, British Columbia, Dec. 10, 2020 (GLOBE NEWSWIRE) -- Independence Gold Corp. (TSX.V: IGO) (the "Company") wishes to announce that due to demand it has
About this update from Independence Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Dec. 10, 2020 (GLOBE NEWSWIRE) -- Independence Gold Corp. (TSX.V: IGO) (the \"Company\") wishes to announce that due to demand it has increased the size of its initially announced $1.5 million private placement financing (the “Offering”). The increase will allow for up to 9,375,000 flow-through common shares (the “FT Shares”) at a price of $0.16 FT Share, for aggregate proceeds of $1,500,000; and 4,285,714 additional common shares (each a “Unit”) at a price of $0.14 per Unit for aggregate proceeds of $600,000. Each Unit will consist of one common share of the Company (a “Share”) and one half of one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share at an exercise price of $0.20 per common share for a period of 24 months. Subject to compliance with applicable securities laws and the approval of the Exchange, finders’ fees may be payable to eligible arm’s length persons with respect to certain subscriptions accepted by the Company. The net proceeds from the Offering will be used by the Company to fund a winter drill program at the 3Ts Property, expected to commence in February 2021, as well as advance the Merit and Nicoamen properties in the Spences Bridge Gold Belt. Proceeds will also be used for general and administrative purposes. Closing of the Offering is subject to receipt of applicable regulatory approvals including the approval of the TSX Venture Exchange. The securities issued will be subject to a standard four month hold period. ON BEHALF OF THE BOARD of Independence Gold Corp. “Randy Turner” Randy Turner, President and CEO Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. All statements in this press release, other than statements of historical fact, are \"forward-looking information\" with respect to Independence within the meaning of applicable securities laws, including statements with respect to the Company’s planned drilling and exploration activities. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriat...