Business
Gold State Announces Private Placement of Convertible Debenture Units
(TheNewswire) Vancouver, British Columbia – TheNewswire - June 20,...
About this update from International Metals Mining Corp
[{"type":"text","content":"Gold State Announces Private Placement of Convertible Debenture Units\n \n \n (TheNewswire)\n \n \n \n \n \n \n Vancouver, British Columbia –\n \n \n TheNewswire -\n \n \n June 20, 2022 – Gold State Resources Inc.\n \n \n (formerly Cyon Exploration Ltd.)\n \n \n (“\n \n \n Gold\nState\n \n \n ” or the “\n \n \n Company\n \n \n ”)\n \n \n (TSXV:GOST\n \n \n )\n \n \n (\n \n \n OTC:CYNXF\n \n \n )\n \n \n (\n \n \n FSE:C2YD\n \n \n )\n \n \n announces that,\nfurther to its news release of April 14, 2022, it intends to extend\nthe close of the private placement\n \n \n (the\n“\n \n \n Private\nPlacement\n \n \n ”) of unsecured convertible debenture\nunits (the “\n \n \n Convertible\n \n \n Debenture\nUnits\n \n \n ”) to July 5, 2022.  Pursuant to the\nPrivate Placement, Convertible Debentures will be issued\n \n \n at a price of\n \n \n \n $1,000\n \n \n \n per Convertible\nDebenture Unit, for aggregate gross proceeds of up to\n \n \n \n $500,000\n \n \n \n . Each\nConvertible Debenture Unit will consist of\n \n \n \n $1,000\n \n \n \n in\nprincipal of unsecured convertible debentures (the \"\n \n \n Convertible Debentures\n \n \n \") and 6,666 common share purchase warrants (the\n\"\n \n \n Warrants\n \n \n \") of the Company.\n \n \n \n \n The proceeds of the Private Placement will be used for\nexploration of the Black Rock Canyon, Panteria and Jumping Jack\nprojects and for general working capital purposes.\n \n \n \n \n For further details, please refer to the Company’s\nnews release of April 14, 2022\n \n \n \n \n About Gold State\n \n \n \n \n Gold State is engaged in the acquisition, exploration,\nand development of mineral properties in North and South America.\n The Company is currently focused on its Black Rock Canyon gold\nproperty that is favorably located within the Cortez gold trend of the\nBattle Mountain-Eureka belt, a productive and rapidly growing gold\nmining district in Nevada, as well as its newly acquired Jumping Jack\ngold\n \n \n property\n \n \n located in\nthe Moors Creek mining district of Nye County, Nevada, approximately\n55 miles north of Tonopah. The Jumping Jack Property is situated along\nthe eastern margin of the Walker Lane Gold Trend, ten miles north of\nKinross Gold Corporation’s\n \n \n well-known Roun...