Business
Gold Lion Resources Files Preliminary Short Form Prospectus in Connection with Unit Offering by Eight Capital
VANCOUVER, British Columbia, Sept. 28, 2020 (GLOBE NEWSWIRE) -- Gold Lion Resources Inc. (“Gold Lion” or the “Company”) (CSE: GL) (FWB: 2BC) is pleased to annou
About this update from Panther Minerals Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Sept. 28, 2020 (GLOBE NEWSWIRE) -- Gold Lion Resources Inc. (“Gold Lion” or the “Company”) (CSE: GL) (FWB: 2BC) is pleased to announce that it has filed and obtained a receipt for a preliminary short form prospectus (the “Prospectus”) with respect to an offering (the “Offering”) of units (“Units”) at a price of $0.45 per Unit for gross proceeds of up to $5,000,000. Each Unit will consist of one common share of the Company (each, a “Unit Share”) and one common share purchase warrant (each, a “Warrant”) entitling the holder to purchase one common share of the Company (a “Warrant Share”) at a price of $0.60 per Warrant Share for a period of 24 months following issuance of such Warrant. The Offering is being conducted on a best efforts agency basis by Eight Capital (the “Agent”) in each of the provinces of Canada, other than Quebec (the “Offering Jurisdictions”). The Company has granted to the Agent an option to increase the size of the Offering by up to 15%, exercisable in whole or in part at any time for a period of 30 days after the closing date of the Offering. The net proceeds from the Offering will be used to advance the exploration for the Company’s Idaho gold projects (primarily the Robber Gulch Property), as well as for working capital and general corporate purposes. The Company has applied to list the Unit Shares and the Warrant Shares on the Canadian Securities Exchange (the “CSE”). There is no established trading market for the Warrants and the Company does not expect a market to develop. A copy of the Prospectus is available under the Company’s profile at www.sedar.com. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. Closing of the Offering is expected to occur on October 16, 2020 and is subject to certain customary conditions including, but not limited to, receipt of all necessary approvals, includi...