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SolidusGold Announces C$500,000 Private Placement
VANCOUVER, British Columbia, Sept. 28, 2020 (GLOBE NEWSWIRE) -- SolidusGold Inc. (the “Company”) announces a non-brokered private placement of up to 5,555,555 u
About this update from Valhalla Metals Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Sept. 28, 2020 (GLOBE NEWSWIRE) -- SolidusGold Inc. (the “Company”) announces a non-brokered private placement of up to 5,555,555 units of the Company (“Units”) at a price of $0.09 per Unit for total gross proceeds of up to $500,000 (the “Private Placement”). Each Unit will consist of one common share of the Company (a “Solidus Share“) and one common share purchase warrant exercisable for twenty-four (24) months at a price of $0.12 per Solidus Share. The Private Placement will complete on or about October 9, 2020. All securities issued in connection with the Offering will be subject to a hold period of four months and a day from the date of closing. The net proceeds from the Offering will be used for the evaluation of potential acquisition transactions, including land and legal due diligence reviews, for general working capital and administrative expenses. To demonstrate continued support of the Company's growth plans, certain insiders of the Company will participate in the Private Placement. Such participation is considered a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The related party transaction will be exempt from minority approval and valuation requirements pursuant to the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities to be issued under the Private Placement nor the consideration to be paid by the insiders will exceed 25% of the Company's market capitalization. For more information on the Company please contact SolidusGold Inc. Forward Looking Statements: This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. In particular, this news release contains forward-looking information relating to the Offering and the use of the proceeds therefrom. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including ...