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Solstice Gold Announces Board Changes and Concurrent C$1.2 Million Financing
VANCOUVER, British Columbia, May 25, 2020 (GLOBE NEWSWIRE) -- Solstice Gold Corp. (TSXV: SGC) (“Solstice” or the “Company”) is pleased to welcome Kevin Reid, Mi
About this update from Solstice Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, May 25, 2020 (GLOBE NEWSWIRE) -- Solstice Gold Corp. (TSXV: SGC) (“Solstice” or the “Company”) is pleased to welcome Kevin Reid, Michael Gentile and Blair Schultz to its board of directors as part of a strategic plan to unlock shareholder value. The appointments will be made concurrent with, and are subject to the completion of, a non-brokered private placement pursuant to which the Company will raise $1,200,000 through the issue of 30,000,000 units (\"Units\") at $0.04 per Unit (\"Private Placement\"). Completion of the Private Placement and proposed board appointments is subject to the approval of the TSX Venture Exchange (“TSXV”). “I'm very pleased to announce these new board appointments. Each new appointee is experienced and successful in both capital markets and in the junior exploration and development space. Collectively, they bring a wealth of talent to Solstice. We believe the company is significantly undervalued and that these changes and concurrent financing coupled with the ongoing bull market in gold, will best position the company to unlock shareholder value,” stated Chairman, David Adamson. Board Changes Subject to the completion of the Private Placement, the Solstice board will be reorganized to increase the number of directors from five to six and will be comprised of David Adamson (Executive Chairman), Michael Leskovec, Christopher Taylor, Kevin Reid, Michael Gentile and Blair Schultz. Marty Tunney and Chad Ulansky will resign from the board; however, Mr. Tunney will continue in his role as President of the Company and Mr. Ulansky will be retained as a consultant. The Company thanks them both for their contributions as founding directors of the Company. Kevin Reid Mr. Reid is a Managing Partner of Maxit Capital. He joined Maxit Capital in 2017 after 15 years with the mining investment banking team at GMP. Mr. Reid has a wide range of M&A advisory and financing transaction experience including: the origination of Goldcorp's $2.0 billion acquisition of Wheaton River, EMC Metals' $1.6 billion sale to Uranium One, Orko Silver's $400 million sale to Coeur D'Alene, GlobeStar's $200 million sale to Perilya Limited and Potash One's $450 million sale to K+S. He has also advised on three acquisitions and ~$250 million in financings for Klondex Mines, and the recent sale to Hecla Mining....