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Ethos Gold Announces Increase in Size of Flow-Through Financing to Raise $1.763 Million for Drilling at its Ligneris project, Abitibi, Quebec
Vancouver, British Columbia--(Newsfile Corp. - November 22, 2019) - Ethos Gold Corp. (TSXV:...
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[{"type":"text","content":"Ethos Gold Announces Increase in Size of Flow-Through Financing to Raise $1.763 Million for Drilling\nat its Ligneris project, Abitibi, QuebecVancouver, British Columbia--(Newsfile Corp. - November 22, 2019) - Ethos Gold Corp. (TSXV: ECC) (\"Ethos\" or the \"Company\") announces that it has increased the size of its non-brokered private placement announced October 28, 2019. Ethos is proceeding with the flow-through offering to raise gross proceeds of $1,763,541 by the issuance of up to 6,531,632 units (each a \"FT Unit\") at a price of $0.27 per FT Unit (the \"FT Offering\"). Each FT Unit will be comprised of one flow-through common share (a \"FT Share\") and one half of one non flow-through common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will be exercisable at a price of $0.30 into one common share for a period of two years from the date of issuance. The FT Shares will qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the Income Tax Act (Canada). The gross proceeds of the FT Offering will be used by the Company to incur \"Canadian exploration expenses\" that will qualify as \"flow-through mining expenditures\" within the meaning of the Income Tax Act (Canada) related to the Company's projects in Québec on or prior to December 31, 2020 for renunciation to subscribers of FT Shares effective December 31, 2019. The FT Offering is subject to the acceptance of the TSX Venture Exchange, and securities issued in the FT Offering will be subject to a 4-month hold period. Finder's fees may be payable on all or a portion of the FT Offering.ContactFor additional information please contact Tom Martin at E: [email protected] P: 1-250-516-2455 or view the Company's website, www.ethosgold.com and the Company's SEDAR profile at www.sedar.com.Ethos Gold Corp.Per: \"Craig Roberts\"Craig Roberts, P.Eng., President & CEONeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward-Looking Statement Cautions:This press release contains certain \"forward-looking statements\" within the meaning of Canadian securities legislation, relating to, among other things, the Company's plan to undertake the FT Offering, the size of the FT ...