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Snowline Gold Announces That Its Previously Announced Non-Brokered Private Placement is Over-Subscribed
VANCOUVER, BC / ACCESSWIRE / November 23, 2021 / Snowline Gold Corp. (CSE:SGD) (OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce that its previ
About this update from Snowline Gold Corp.
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / November 23, 2021 / Snowline Gold Corp. (CSE:SGD) (OTCQB:SNWGF) (the \"Company\" or \"Snowline\") is pleased to announce that its previously announced non-brokered private placement is over-subscribed. As a result, the Company has increased the number of premium flow-through common shares of the Company (the \"Premium FT Shares\") to be issued to a maximum of 8,783,783 Premium FT Shares at a price of C$0.74 per Premium FT Share for gross proceeds of up to C$6,500,000. The number flow-through common shares of the Company (the \"FT Shares\") remains at a maximum of 757,575 FT Shares at a price of C$0.66 per FT Share for gross proceeds of up to C$500,000. Each FT Share and Premium FT Share will be accompanied by one-half of one common share purchase warrant (each whole common share purchase warrant, a \"Warrant\"), with each Warrant being exercisable for one common share of the Company at an exercise price of C$0.75 for a period of two years(the \"Offering\"). The gross proceeds from the issue and sale of the FT Shares and the Premium FT Shares will be used to support advancement of exploration on the Company's Yukon Territory mineral properties, which will qualify as \"Canadian Exploration Expenses\" and \"flow-through mining expenditures\", as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial purchasers of the FT Shares and the Premium FT Shares with an effective date no later than December 31, 2021. It is expected that the closing of the Offering will occur on or about December 15, 2021 (the \"Closing Date\") and is subject to the satisfaction of certain conditions, including receipt of acceptance of the Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months and one day from the Closing Date, in accordance with applicable Canadian securities laws. The securities issued under the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and were not to be offered or sold in the United States absentregistration or an applicable exemption from the registration requirements. This news release shall notconstitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securitiesin the United States or in any...