EDMONTON, ALBERTA – Green River Gold Corp. (the “Company”) is pleased to announce that it has entered into a letter of intent (“Letter of Intent”) with 1070923 BC Ltd. (“1070923”) to form a limited partnership pursuant to the laws of the Province of British Columbia to be named ‘Green River Gold Industries LP’ (the ‘Partnership’). Each of the Company and 1070923 will own 50% of the issued units of the Partnership. 1070923 will contribute mining manufacturing inventory and equipment to the Partnership in exchange for its units and a promissory note from the Partnership. The Partnership will continue the existing business of 1070923, which includes the manufacturing of mining equipment and general welding and mechanical maintenance services.
Pursuant to the Letter of Intent, until the transactions contemplated therein are completed, 1070923 is permitted to use the Company’s logo and the name “Green River Gold Industries” in the operation of its business.
Two of the directors and officers of the Company, Pearson John Little and Shawn Stockdale, are also the directors and officers of 1070923.
Further, the Company announces that it plans to undertake a non-brokered private placement of a minimum of 5,000,000 units (the “Units“) to raise gross proceeds of at least $300,000 (the “Offering”). The Units will be offered at a price of $0.06, with each Unit consisting of one common share of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”). The Offering is expected to close on or about August 10, 2018.
Each full Warrant will be exercisable to acquire one Common Share (a “Warrant Share“) for a period of 12 months following the closing of the Offering at an exercise price of $0.10 per Warrant Share.
The Company intends to use the net proceeds from the Offering to consummate the transactions contemplated in the Letter of Intent and for general working capital purposes. All securities purchased under this Offering will be subject to a four month and one day hold period. Finders’ fees may be payable on a portion of the Offering in accordance with the policies of the CSE.
The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the CSE.
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com
For more information contact:
Green River Gold Corp.
Mr. Perry Little President and Chief Executive Officer
780-993-2193
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.