Gold Rush Cariboo Corp. Announces Closing of Final Tranche of Non-Brokered Placement of Special Warrants

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[{"type":"text","content":"Gold Rush Cariboo Corp. Announces Closing of Final Tranche of Non-Brokered Placement of Special WarrantsToronto, Ontario--(Newsfile Corp. - March 31, 2021) -  Gold Rush Cariboo Corp. (TSXV: GDBO) (OTC: SGRWF) (\"Gold Rush\" or the \"Company\") is pleased to announce that further to its press releases of February 9, 2021, March 3, 2021, March 8, 2021, March 17, 2021 and March 24, 2021, the Company has closed the final tranche of its non-brokered private placement offering (the \"Offering\") through the issuance of 41,194,305 special warrants (the \"Special Warrants\") at a price of $0.015 per Special Warrant (the \"Purchase Price\") for gross proceeds of $617,914. Prior to the conversion of the Special Warrants, the Company will complete a consolidation (the \"Consolidation\") of the outstanding common shares (each, a \"Common Share\") in the capital of the Company on the basis of 15 pre-Consolidation Common Shares for 1 post-Consolidation Common Share. The Special Warrants shall be automatically exchanged for Units upon satisfaction of the following conditions (collectively the \"Exercise Conditions\"):completion of the Consolidation;receipt of approval of the TSX Venture Exchange for the Offering and the Consolidation; andreceipt of all regulatory approvals required for the Offering and the Consolidation.Post-Consolidation, each Special Warrant is exchangeable, for no additional consideration, into one unit of the Company (each a \"Unit\"), for a deemed price of $0.225 per Unit. Each whole Unit is comprised of one Common Share and one Common Share purchase warrant of the Company (each, a \"Warrant\"). Each Warrant entitles the holder thereof to purchase one post-Consolidation Common Share for a period of three (3) years from the date of issuance at an exercise price of $0.30 per post-Consolidation Common Share.The Company shall use its reasonable best efforts to satisfy the Exercise Conditions. In the event that the Exercise Conditions are not satisfied on the date that is six months after the closing date of the Offering, the Special Warrants shall be redeemed at the Purchase Price for the Special Warrants.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Sec...

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