Golden Shield (GSRI-Cse) Upsize And Repricing To Brokered Private Placement
April 3rd 2023 - NR
Golden Shield Resources Inc., in connection with the proposed private placement announced on March 22, 2023, has entered into an amending agreement with Canaccord Genuity Corp. to increase the size of the offering from up to $3.5-million to up to $4-million and amend the price of the units from 17.5 cents per unit to 20 cents per unit.
Each unit will continue to consist of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share of the company for a period of 24 months following the closing date of the offering. The exercise price of the warrants has been amended to 30 cents for the 12 month period following the closing date and to 40 cents for the remaining term of the warrants.
The net proceeds of the offering will be used for exploration of the company's flagship Marudi property, including diamond drilling, aircore drilling, trenching, pitting, hand augering, mapping and sampling, and for general working capital of the company.
The units will be offered for sale by way of private placement pursuant to applicable exemptions from the prospectus requirements in all of the provinces of Canada. The agent will also be entitled to offer the units for sale in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in those other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation arises in such other jurisdiction.
The offering is scheduled to close on or about April 12, 2023, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Canadian Securities Exchange (CSE).
Completion of the offering remains subject to the receipt of all necessary regulatory approvals, including the approval of the CSE. The securities issued pursuant to the offering will be subject to a four-month hold period from the closing date.
About Golden Shield Resources Inc.
Golden Shield Resources was founded by experienced professionals who are convinced that there are many more gold mines yet to be found in Guyana. The company is well-financed and has three wholly controlled gold projects: Marudi Mountain, Arakaka and Fish Creek. Golden Shield continues to evaluate other gold opportunities in Guyana.
SOURCE Golden Shield Resources Inc.
For further information:
Leo Hathaway
Executive Chairman
Email: info@goldenshield.ca
Telephone: +1 778-654-9665 |
