Business
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
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES ...
About this update from Snowline Gold Corp.
[{"type":"text","content":"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 PropertiesNOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICESVANCOUVER, BC / ACCESSWIRE / December 20, 2021 / Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the \"Company\" or \"Snowline\") is pleased to announce that it has completed its previously announced non-brokered private placement, issuing 757,575 flow-through common shares of the Company (the \"FT Shares\") at a price of C$0.66 per FT Share and 8,783,783 premium flow-through common shares of the Company (the \"Premium FT Shares\") at a price of C$0.74 per Premium FT Share, for aggregate gross proceeds of approximately C$7 million. Each FT Share and Premium FT Share is 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 until December 17, 2023(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.\"We are thrilled to have funds in hand for a significant and expanded exploration program in 2022,\" said Scott Berdahl, CEO and Director of Snowline Gold Corp. \"This placement puts Snowline in a strong position as we continue to build on the progress made in 2021. We are already working to make 2022 an even more exciting year for Snowline and its shareholders than our inaugural 2021 campaign.\"Snowline Gold Corp' Chair, Craig Hart emphasized that, \"Importantly, these flow-through shares were acquired by fundamental buyers who appreciate the long term growth opportunity of our exploration and discovery plan. On behalf of the company, we would like to thank our investors for their continued support.\"An aggregate cash finder's fee of $11,892.0...