Gold79 Announces Private Placement Financing of up to $1,000,000 and Share Consolidation

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[{"type":"text","content":"Gold79 Announces Private Placement Financing of up to $1,000,000 and Share ConsolidationOttawa, Ontario--(Newsfile Corp. - April 11, 2024) - Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (\"Gold79\" or the \"Company\") is pleased to announce the initiation of a non-brokered private placement to raise gross proceeds of up to $1,000,000, comprising 4,000,000 post-consolidation (see below) units (each a \"Unit\"), at $0.25 per Unit (the \"Offering\"). Each Unit will consist of one post-consolidation common share of the Company and one-half post-consolidation common share purchase warrant, each whole warrant (a \"Warrant\") will entitle the holder to purchase one common share of the Company at a price of $0.30 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 $0.50 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 will 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 anticipated closing date of the Offering is April 30, 2024.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 April 10, 2024 (the \"Record Date\") who are eligible to participate under the Existing Security Holder Exemptions and who have notified the Company by no later than April 24, 2023 at 5:00 pm (Eastern) of their intention to participate in the Offering. The Existing Securit...

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