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NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, Feb. 08, 2022 (GLOBE NEWSWIRE) — Golden Tag Assets Ltd. (“Golden Tag” or the “Firm“) (TSX.V: GOG) (OTCQB: GTAGF) is happy to announce the closing of the primary tranche (the “First Tranche“) of the non-brokered personal placement introduced on January 20, 2022 (the “Providing”). Below the First Tranche, the Firm issued 7,166,670 Models, for combination gross proceeds of $1,791,667.50.
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The Providing
Every Unit consists of 1 widespread share (“Widespread Share”) and one-half of 1 widespread share buy warrant (every, a “Warrant”). Every entire Warrant issued pursuant to the First Tranche entitles the holder thereof to amass one Widespread Share at a value of C$0.40 till February 8, 2024. The Warrants comprise an acceleration provision whereby if the closing value of the Widespread Shares on the Trade is $0.70 or extra for 10 consecutive buying and selling days the Firm could have the precise to speed up the expiry date of the Warrants (the “Acceleration Provision”).
In reference to the First Tranche, the Firm paid combination money finder’s charges of $39,800 and issued 140,000 finder’s warrants (every, a “Finder’s Warrant“). Every Finder’s Warrant entitles the holder to buy one Share at a value of $0.25 for a interval of 24 months months following closing of the First Tranche, topic to the Acceleration Provision.
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The securities issued and issuable pursuant to the First Tranche of the Providing might be topic to a 4 month and in the future maintain interval. The Firm intends to make use of the online proceeds of the Providing to fund development of the Firm’s 100% owned San Diego Undertaking, in Durango Mexico, and for working capital and basic company functions.
The Providing stays topic to TSX Enterprise Trade (the “TSXV”) last acceptance.
About Golden Tag Assets
Golden Tag Assets Ltd. is a junior exploration firm exploring for high-grade silver deposits. The Firm holds a 100% curiosity, topic to a 2% NSR, within the San Diego property in Durango State, Mexico. The San Diego property is positioned throughout the prolific Velardeña Mining District, the positioning of a number of mines having produced silver, zinc, lead, and gold over the previous century. For extra data concerning the San Diego property please go to our web site at www.goldentag.ca.
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For added data, please contact:
Greg McKenzie, President & CEO
Ph: 416-504-2024
greg.mckenzie@goldentag.ca
www.goldentag.ca
Cautionary Assertion:
Neither the TSXV nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSXV) accepts accountability for the adequacy or accuracy of this information launch. Sure statements on this information launch are forward-looking and contain numerous dangers and uncertainties. Such forward-looking statements are throughout the which means of the phrase ‘forward-looking data’ within the Canadian Securities Directors’ Nationwide Instrument 51-102 – Steady Disclosure Obligations. Ahead-looking statements are usually not comprised of historic info. Ahead-looking statements embody estimates and statements that describe the Firm’s future plans, aims or objectives, together with phrases to the impact that the Firm or administration expects a acknowledged situation or consequence to happen. Ahead-looking statements could also be recognized by such phrases as “believes”, “anticipates”, “expects”, “estimates”, “could”, “might”, “would”, “will”, or “plan”. Since forward-looking statements are primarily based on assumptions and handle future occasions and situations, by their very nature they contain inherent dangers and uncertainties. Though these statements are primarily based on data at the moment obtainable to the Firm, the Firm supplies no assurance that precise outcomes will meet administration’s expectations. Dangers, uncertainties and different components concerned with forward-looking data might trigger precise occasions, outcomes, efficiency, prospects and alternatives to vary materially from these expressed or implied by such forward-looking data. Ahead-looking data on this information launch contains, however isn’t restricted to, use of proceeds of the Providing, closing of future tranches of the Providing and proceeds therefrom, acceptance of regulatory filings by the Trade, and the development of the Firm’s San Diego Undertaking. Components that might trigger precise outcomes to vary materially from such forward-looking data embody, however are usually not restricted to: the flexibility to foretell and counteract the results of COVID-19 on the enterprise of the Firm, together with however not restricted to the results of COVID-19 on the worth of commodities, capital market situations, restriction on labour and worldwide journey and provide chains; failure to establish mineral sources; failure to transform estimated mineral sources to reserves; the shortcoming to finish a feasibility research which recommends a manufacturing resolution; the preliminary nature of metallurgical check outcomes; delays in acquiring or failures to acquire required governmental, environmental or different venture approvals; political dangers; modifications in fairness markets; uncertainties regarding the provision and prices of financing wanted sooner or later; the shortcoming of the Firm to price range and handle its liquidity in gentle of the failure to acquire extra financing; inflation; modifications in trade charges; fluctuations in commodity costs; delays within the improvement of tasks; capital, working and reclamation prices various considerably from estimates and the opposite dangers concerned within the mineral exploration and improvement trade; and people dangers set out within the Firm’s public paperwork filed on SEDAR. Though the Firm believes that the assumptions and components utilized in getting ready the forward-looking data on this information launch are affordable, undue reliance shouldn’t be positioned on such data, which solely applies as of the date of this information launch, and no assurance might be provided that such occasions will happen within the disclosed time frames or in any respect. The Firm disclaims any intention or obligation to replace or revise any forward-looking data, whether or not because of new data, future occasions or in any other case, apart from as required by legislation. No inventory trade, securities fee or different regulatory authority has authorized or disapproved the data contained herein.
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