Business
Gold79 Amends Terms of Private Placement Financing
Ottawa, Ontario--(Newsfile Corp. - June 2, 2023) - Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (...
About this update from West Point Gold Corp.
[{"type":"text","content":"Gold79 Amends Terms of Private Placement FinancingOttawa, Ontario--(Newsfile Corp. - June 2, 2023) - Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (\"Gold79\" or the \"Company\") announces that it is amending the terms of its non-brokered private placement originally announced on May 10, 2023. The private placement will now raise gross proceeds of up to $1,000,000, comprising 33,333,333 units (each a \"Unit\"), at $0.03 per Unit (the \"Offering\"). Each Unit consists of one common share of the Company and one whole common share purchase warrant (a \"Warrant\"). Each Warrant entitles the holder to purchase one common share of the Company at a price of $0.05 per share for a period of 24 months following the date of issuance. Additionally, the Warrants will be callable during the 24-month period, at the option of the Company, in the event that the 20-day volume-weighted average price of the Company's common shares meets or exceeds $0.08 for ten consecutive trading days based on trades on the TSX Venture Exchange and Alternative Trading Systems. Subscribers will be notified of the call provision being triggered and will have a 30-day period to exercise the warrants.Any securities issued under the Offering would be subject to a statutory hold period of four months and one day from the date of issuance. This Offering is subject to approval of the TSX Venture Exchange (\"TSX-V\"). The Company anticipates a first closing of the Offering on or about June 7, 2023 and a final closing on June 23, 2023.The Offering will be conducted by the Company utilizing the Existing Security Holder Prospectus Exemption under OSC Rule 45-501 Ontario Prospectus and Registration Exemptions and other equivalent provisions of applicable securities laws in other jurisdictions in Canada (collectively, the \"Existing Security Holder Exemptions\") as well as the \"accredited investor\" exemption under National Instrument 45-106 Prospectus and Registration Exemptions and also other exemptions available to the Company.The Company will make the Offering available to all shareholders of the Company as of June 1, 2023 (the \"Record Date\") who are eligible to participate under the Existing Security Holder Exemptions and who have notified the Company by no later than June 19, 2023 at 5:00 pm (Eastern) of their intention to participate in the Offering. The Existing Secur...