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Press release content from Accesswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Accesswire
Press release content from Accesswire. The AP news staff was not involved in its creation.

Golden Pursuit Announces Private Placement of 2,500,000 Units @ $0,20

November 11, 2020 GMT

VANCOUVER, BC / ACCESSWIRE / November 11, 2020 / Golden Pursuit Resources Ltd. is undertaking a proposed non-brokered private placement of up to 2.5 million units of the company at a price of 20 cents per unit, for aggregate gross proceeds of up to $500,000. Each Unit will be comprised of one common share (a “Common Share”) and one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.30 for a period of eighteen months from the date of issuance. The Units will be offered in each province of Canada pursuant to available prospectus exemptions.

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The Company has engaged an exclusive finder in connection with the Offering (the “Finder”). The Company has agreed to pay the Finder a cash commission of 8% of the proceeds of the Offering introduced by the Finder. In addition, the Company has agreed to issue to the Finder compensation options equal to 8% of the number of Units sold to subscribers introduced by the Finder. Each Compensation Option will entitle the holder thereof to purchase a Unit for $0.30 for a period of eighteen months from the date of issuance.

The Company will use the net proceeds of the Offering to fund exploration and development activities at the Gordon Lake Project and WT- Myrt Lake Gold Project and for general administrative and corporate purposes. The offering is subject to regulatory approvals, including conditional acceptance by the TSX Venture Exchange. The securities issued under the Offering have a hold period of four months and one day from the date of issuance.

The company intends to commission a NI43-101 compliant report to list as a “property of merit” and to outline a plan for development of the Gordon Lake and WT projects in the NWT. For further information on these project, please visit the company’s website ( www.goldpursuit.ca ).

About Golden Pursuit Resources

Golden Pursuit Resources is an exploration and project generator company focused on its portfolio of 15 mineral properties located in Nevada and the development of its recently staked Gordon Lake Project, located 85 kms N of Yellowknife NWT. Golden Pursuit owns100% of all properties with no royalties. The company has a carried 40% interest in a joint venture on its Blackpoint Prospect located 8 kms north of Eureka Nevada and is awaiting assays from a recently completed drill program.

On Behalf of the Board of Directors,

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GOLDEN PURSUIT RESOURCES LTD.

“Brian McClay”

President/CEO

For further information please contact:

Investor Relations

Brian McClay

Tel: +1 (604) 730.6982

Email:

https://www.GoldPursuit.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements”. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Golden Pursuit’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this document include statements concerning Golden Pursuit’s expected use of proceeds of the Offering and all other statements that are not statements of historical fact.

Although Golden Pursuit believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of Golden Pursuit to implement its business strategies; competition; and other assumptions, risks and uncertainties.

The forward-looking information contained in this news release represents the expectations of the company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

SOURCE: Golden Pursuit Resources Ltd.

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