Skyledger Tech Corp. Announces Private Placement of $1.5 Million

About this update from Snowline Gold Corp.

[{"type":"text","content":"Skyledger Tech Corp. Announces Private Placement of $1.5 MillionVancouver, British Columbia--(Newsfile Corp. - January 5, 2021) - Skyledger Tech Corp. (CSE: SKYL) (the \"Company\" or \"Skyledger\") is pleased to announce its intention to complete a non-brokered private placement consisting of (a) 1,334,000 common shares of the Company (the \"Shares\") at a price of $0.15 per Share for proceeds of $200,100, and (b) 9,100,000 subscription receipts (the \"Subscription Receipts\") at a price of $0.15 per Subscription Receipt for proceeds of $1,365,000, for total proceeds of $1,565,100 (collectively, the \"Private Placement\"). Each Subscription Receipt will be automatically exercised into one Share upon completion of the previously announced transaction pursuant to which the Company will acquire all of the issued and outstanding shares of Senoa Gold Corp., which holds certain mineral claims in the Yukon (the \"Transaction\"). For further details regarding the Transaction, see the Company's news releases dated October 15, 2020, November 17, 2020 and December 2, 2020.The proceeds from the sale of the Shares are expected to be used to cover working capital requirements in advance of completion of the Transaction. The proceeds from the sale of the Subscription Receipts will be held in escrow pending completion of the Transaction and, following completion of the Transaction, are expected to be used for exploration and related expenditures on the Yukon properties to be acquired, and for working capital purposes.The Shares and the Subscription Receipts, including the Shares issuable upon automatic exercise of the Subscription Receipts, will be subject to statutory hold periods of four months and a day under Canadian securities laws.Further InformationInvestors are cautioned that any information released or received with respect to the Transaction, including in this news release, may not be complete and should not be relied upon.Completion of the Transaction is subject to a number of conditions, including but not limited to, Canadian Securities Exchange (the \"CSE\") and shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.The CSE has in no way passed upon the merits of the proposed Tran...

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