Sky Gold to Begin Working With Goldspot Discoveries on The Mustang Project, Newfoundland

About this update from Sky Gold Corp.

[{"type":"text","content":"Sky Gold to Begin Working With Goldspot Discoveries on The Mustang Project, NewfoundlandANNOUNCES FINANCINGVANCOUVER, BC / ACCESSWIRE / June 23, 2022 / Sky Gold Corp. (TSX-V:SKYG)(OTC PINK:SRKZF) (\"Sky Gold Corp.\" or the \"Company\") announces it is now working with Goldspot Discoveries Group Corp on arranging for an upcoming program this summer on the Mustang property located in Newfoundland. Additionally, a 3-week program on the Company's Virginia property has just concluded with a total of 153 channel/hand samples were taken and assays will be announced once received. The Virginia property is located contiguous to the north-eastern portion of the Queensway Gold Project, owned by New Found Gold Corp. and the south-west portion of Labrador Gold's Kingsway project. Sky Gold further announces it has arranged a non-brokered private placement of 5,000,000 flow-through units (the \"FT Units\") at a price of $0.06 per FT Unit (the \"FT Offering\"), for aggregate gross proceeds of $300,000. Each 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 SKYG at a price of $0.08 for a period of 24 months following the closing of the offering. The flow-through shares 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). Sky has also arranged a non-brokered private placement of 6,000,000 units (\"Units\") at a price of $0.05 per Unit for aggregate gross proceeds of $300,000 (the \"Offering\"). Each Unit shall be comprised of one common share (\"Share\") and one full Share purchase warrant (\"Warrant\"). Each whole Warrant shall entitle the holder thereof to acquire one Warrant Share of SKYG at a price of $0.08 for a period of 18 months following the closing of the Offering.Proceeds raised from the Offerings will be used for ongoing work programs at the Company's Mustang property located in Newfoundland as well as general corporate overhead. Finders' fees will be payable on the private placements, subject to the policies of the TSX Venture Exchange. Closing of the offering is subject to approval of the TSX Venture Exchang...

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