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Aguila American Gold Receives Approval to Complete Acquisition of Wusa Gold Project and Financing
Vancouver, British Columbia--(Newsfile Corp. - September 28, 2020) - Aguila American Gold Lim...
About this update from T2 Metals Corp
[{"type":"text","content":"Aguila American Gold Receives Approval to Complete Acquisition of Wusa Gold Project and FinancingVancouver, British Columbia--(Newsfile Corp. - September 28, 2020) - Aguila American Gold Limited (TSXV: AGL) (\"Aguila\" or the \"Company\") is pleased to report that regulatory acceptance was received by the Company to complete its option to acquire up to an 80% interest in the WUSA epithermal gold project located within the Western Cascades, Oregon, USA, as announced in the Company's news release of August 5th 2020. The Company is also pleased to announce the closing of its non-brokered private placement financing (the \"Private Placement\") announced on August 5th, 2020, as updated on August 21st and September 16th. Aguila raised gross proceeds of CDN$2,679,200 by issuing 11,907,556 units (each, a \"Unit\") of the Company, at a price of CDN$0.225 per Unit, with each Unit comprising one common share (a \"Share\") and one-half of a share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share at a price of CDN$0.45 for a period of two years from the closing of the Private Placement. Finders' fees totalling CDN$14,850 were paid on a portion of the Private Placement. The proceeds, net of costs related to the acquisition of the WUSA interests and Private Placement above, will be used for exploration and development activities and general working capital. All securities issued will be subject to a four month hold period from the date of closing. Related Party Transaction Officers and/or directors of the Company participated in the Private Placement and purchased an aggregate of 234,000 Units for aggregate gross proceeds of CDN$52,650. The participation in the Private Placement by the officers and/or directors of the Company constitutes related party transactions pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the participation in the Private Placement in reliance on the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the transaction does not exceed 25% of the Company's market capitalization.The securities offered have not been, and will...