Highway 50 Gold (HWY-V) Exploration Funds
Aug 28, '19 - NR
Highway 50 Goldis pleased to announce a non-brokered private placement to raise gross proceeds to the Company of up to $240,000 (the "FT Offering") by the issuance of up to 1,600,000 units (each a "FT Unit") at a purchase price of $0.15 per FT Unit. Each FT Unit will consist of one common share of the Company to be issued on a flow-through basis under the Income Tax Act (Canada) and one half of one non-flow-through common share purchase warrant (each whole warrant, a "FT Warrant"). Each FT Warrant will entitle the holder to purchase one non-flow-through common share of the Company at a purchase price of $0.20 per share for a period of two years from the date of the closing of the FT Offering. The proceeds of the FT Offering will be used to re-commence drilling on the Monroe property located in southeastern British Columbia. Drilling will include testing the extensions of the lead-zinc system intersected in 2016 to 2018 drilling. The target being tested is an offset of lead-zinc mineralization and extensive tourmalinite and albite alteration encountered in holes HWY-17-3 and HWY-18-8. The FT Offering is subject to the acceptance of the TSX Venture Exchange (the "Exchange").
The Company is also pleased to announce a non-brokered private placement to raise gross proceeds to the Company of up to $55,000 (the "Non-FT Offering") by the issuance of up to 366,666 units (each, a "Unit") of the Company at a purchase price of $0.15 per Unit. Each Unit will consist of one non-flow-through common share of the Company and one non-flow-through common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to purchase one non-flow-through common share of the Company at a purchase price of $0.20 per share for a period of two years from the closing date of the Non-FT Offering. The proceeds of the Non-FT Offering will be used for general working capital purposes. The Non-FT Offering is subject to the acceptance of the Exchange.
Insiders of the Company intend to participate in the FT Offering and the Non-FT Offering (collectively, the "Offerings"). No finder's fees are payable in respect of the Offerings.
For additional information:
Gordon P. Leask, P.Eng. or John M. Leask, P.Eng.
Tel: 604.681.4462
Email: gord@highway50gold.com or jml@highway50gold.com
About Highway 50 Gold Corp.
Highway 50 Gold Corp. is a mineral exploration stage company led by a team of experienced explorers and deal-makers. The Company is executing an exploration plan refined over 25 years of experience in Nevada and the Aldridge Formation of southeastern British Columbia. The exploration focus on its projects are a result of what management believes to be breakthroughs in the understanding of north-central Nevada's crustal architecture and a new geological understanding on the Monroe property in British Columbia. |
