EDMONTON, ALBERTA – Green River Gold Corp. (the “Company“) is pleased to announce a private placement of up to $1,000,000 (the “Financing”). The Financing will consist of (i) up to $500,000 of units of the Company (“Units“) to be offered at a price of $0.06 per Unit (the “Offering Price“), with each Unit consisting of one common share of the Company (“Common Share“) and one-half Common Share purchase warrant (“Warrant“) with each whole Warrant entitling the holder to acquire one Common Share at a price of $0.10 for a period of two years following the closing date of the Financing (the “Closing Date“); and, (ii) up to $500,000 of 8.0% unsecured convertible debentures of the Company (the “Convertible Debentures“) with a term of three years from the date of issuance, convertible by the holder into Common Shares at a price of $0.10 per Common Share (the “Conversion Price”).
The Company has engaged an independent Canadian investing banking firm to assist with the obtaining the Financing (the “Engagement”). Pursuant to the Engagement, the Company has paid a non-refundable work fee of $30,000 (the “Work Fee”) and has agreed to pay a cash commission equal to 8% of the total amount of the Financing obtained pursuant to the Engagement (the “Commission“). The Work Fee is deductible from any Commission paid if the Financing is completed. The Company has also agreed to issue broker warrants of the Company (“Broker Warrants“). Under the Units, the number of Broker Warrants to be issued will be equal to 10% of the total number of Units issued by the Company pursuant to the Engagement. Each Broker Warrant will entitle the holder to acquire one Common Share at a price equal to the Offering Price for a period of two years from the Closing Date. Under the Convertible Debentures, the number of Broker Warrants to be issued will be equal to 10% of the total amount of consideration received by the Company under the Convertible Debentures pursuant to the Engagement, divided by the Conversion Price. Each Broker Warrant will entitle the holder to acquire one Common Share at a price equal to the Conversion Price for a period of two years from the Closing Date.
The proceeds from the offerings will be used for exploration and development of the Company’s Fontaine mineral and placer gold claims, as well as equipment and inventory purchases and working capital.
The Financing is expected to close on or around March 31, 2020.
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
This press release contains statements that constitute “forward-looking information” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release include, without limitation, statements relating to the timing for completion of the Annual Filings and other statements that are not historical facts. In making the forward- looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
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.