Sitka Gold Announces up to $2 Million Private Placement

About this update from Sitka Gold Corp.

[{"type":"text","content":"Vancouver, Canada - TheNewswire - December 8, 2023 - Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:SIG) (FSE:1RF) (OTC:SITKF) is pleased to announce a non-brokered private placement (the “Offering”) of charity flow-through units (“Charity FT Units”) at a price of $0.20 per Charity FT Unit, for aggregate gross proceeds of up to $2,000,000. Each Charity FT Unit will be issued as part of a charity arrangement and will consist of one “flow-through” common share in capital of the Company and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one non-flow-through Common Share (a \"Warrant Share\") at a price of $0.37 per Warrant Share for a period of 24 months from the date of issuance. The securities offered pursuant to Offering will be subject to a statutory hold period of four months and a day from the date of issuance. The Company may pay a finder’s fee comprised of cash and/or warrants on a portion of the gross proceeds of the Offering as may be agreed between the Company and eligible finders. The Offering remains subject to regulatory approval and the approval of the Canadian Securities Exchange (“CSE”). The Company intends to use the net proceeds of the Offering on its exploration and related programs on the Company’s Yukon gold properties, which expenditures will qualify as “Canadian Exploration Expenses” as such term is defined in paragraph (f) of the definition of “Canadian exploration expense” in subsection 66.1(6) of the Income Tax Act (Canada) (the “Tax Act”) and “flow through mining expenditures” as defined in subsection 127(9) of the Tax Act, which will be incurred on or before December 31, 2024 and renounced with an effective date no later than December 31, 2023, to the purchasers of Charity FT Units. About Sitka Gold Corp. Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka currently has an option to acquire a 100% interest in the RC, Barney Ridge, Clear Creek and OGI properties in the Yukon and the Burro Creek Gold property in Arizona. Sitka owns a 100% interest in its A...

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