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Manado Announces Proposed Private Placement of Units with Preference to Existing Shareholders
(via TheNewswire) Vancouver, BC / TheNewswire / March 21, 2018 - Manado Gold Corp....
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[{"type":"text","content":"Manado Announces Proposed Private Placement of Units with Preference to Existing Shareholders(via TheNewswire)\n \n \nVancouver, BC / TheNewswire / March 21, 2018 - Manado Gold Corp. (TSX-V: MDO) (the \"Company\") plans to offer, on a private placement basis, up to 8,000,000 units at a price $0.05 per unit for total proceeds of up to $400,000 (the \"Offering\"). Each unit being offered under the Offering will consist of one common share of the Company and one half of one share purchase warrant, with each whole warrant entitling the holder to purchase an additional common share at $0.10 per share for a two-year period from the date of issuance. \n\n \n \nThe Company plans to offer the units to its existing shareholders first. The Company will not be relying on the existing security holder exemption, provided in BC Instrument 45-534, accordingly any existing shareholders must qualify under another exemption. \n\n \n \nThe Company will pay a commission or finder's fee of up to 8% of the gross proceeds to investment dealers or finders (where permitted by law).\n\n \n \nThe proceeds of the offering will be used for debt extinguishment, working capital and due diligence expenditures on potential acquisitions in the blockchain or traditional mining spaces. The Company is in the preliminary stages of negotiation of the potential acquisition of a pilot (proof of concept) cryptocurrency mining operation in British Columbia. There is no assurance the acquisition will be completed, and the Company may decide to pursue a different opportunity in either blockchain technology or traditional mineral exploration.\n\n \n \nThe Company announces that at it will not be proceeding with the $0.10 per unit offering announced November 21, 2017. The Company has determined it is more appropriate for it to make this offering. \n\n \n \nClosing of the proposed Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval from the TSX Venture Exchange.\n\n \n \nManado Gold Corp.\n\n\n \nLogan Anderson\n\n\n \nPresident\n\n \n \nFor further information, please contact: \nLogan Anderson or Dave Ryan\nPhone: (604) 685-4745 \nEmail: [email protected]\n\n \n \nForward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on a...