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Warrior Gold Arranges Flow-Through Financing
Warrior Gold Arranges Flow-Through Financing Canada NewsWire TORONTO, May 27, 20...
About this update from Kirkland Lake Discoveries Corp.
[{"type":"text","content":"\n\n\n\nWarrior Gold Arranges Flow-Through Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, May 27, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n TORONTO, May 27, 2020 /CNW/ - Warrior Gold Inc. (TSX-V - WAR) (\"Warrior Gold\" or the \"Company\") announces that the Company has arranged a non-brokered private placement of up to 8,333,333 flow-through units (the \"FT Units\") at a price of $0.087 per FT Unit (the \" Offering\"), for aggregate gross proceeds of up to $725,000. \nEach flow-through unit shall be comprised of one common share of the Company issued on a flow-through basis and one-half of one common share purchase warrant to be issued on a non-flow-through basis.  Each whole warrant shall entitle the holder thereof to acquire one common share of Warrior Gold at a price of $0.10 for a period of 18 months following the closing of the offering, subject to an accelerated expiry date. If at any time following the expiry of the statutory four-month and one-day hold period the closing price of Warrior Gold common shares on the TSX Venture Exchange is greater than $0.20 for 20 or more consecutive trading days, the Company may give notice to the holders of warrants that the expiry date of the warrants will be accelerated and will expire on the 30th business day following the date of such notice.\nThe flow-through shares issued in connection with the Offering will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec). \nDanièle Spethmann, President and CEO of Warrior Gold, commented, \"The proceeds of this financing will be utilized to fund a summer field season of mapping, sampling, and a 2,000-metre drill program. Fieldwork is anticipated to start in mid-June 2020 and drilling soon thereafter.  The drill program will test the A Zone extensions identified during the Company's fall 2019 diamond drill program and will also te...