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GlobeNewswire Hanstone Gold Corp. (TSXV: HANS) (FSE: HGO) ("Hanstone" or the "Company"), is pleased to announce that it has closed its previously announced brokered private placement offering, consisting of: (i) units of the Company (the "Units") at a price of $0.40 per Unit, and (ii) flow-through units of the Company (the "FT Units") at a price of $0.44 per FT Unit, for aggregate gross proceeds of $954,396 (the "Offering"). The Offering was led by Research Capital Corporation as sole agent and sole bookrunner (the "Agent"). Each Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each FT Unit consists of one Common Share of the Company which qualifies as a "flow-through share" (within the meaning of the Income Tax Act (Canada)) (each, a "FT Common Share") and one Warrant. Each Warrant is exercisable to acquire one Common Share (a "Warrant Share") at a price of $0.47 per Warrant Share for a period of 24 months from the Closing Date. The Company intends to use the net proceeds from the Offering for its ongoing exploration drilling program, working capital requirements and other general corporate purposes. The gross proceeds received by the Company from the sale of the FT Units will be used to incur eligible "Canadian exploration expenses" ("CEE") that are "flow-through mining expenditures" (as such term is defined in the Income Tax Act (Canada)) related to the Company's Doc and Snip North projects. The Company will renounce such CEE to the purchasers of the FT Units with an effective date of no later than December 31, 2021. In connection with the Offering, the Agent received an aggregate cash fee of $59,887 and 142,844 non-transferable compensation options (the "Compensation Options"). Each Compensation Option entitles the holder thereof to purchase one Unit at an exercise price equal to $0.40 for a period of 24 months following the Closing Date. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction. About Hanstone Gold Hanstone is a precious and base metals explorer with its current focus on the Doc and Snip North Projects optimally located in the heart of the prolific mineralized area of British Columbia known as the Golden Triangle. The Golden Triangle is an area which hosts numerous producing and past-producing mines and several large deposits that are approaching potential development. The Company holds a 100% earn in option in the 1,704-hectare Doc Project and owns a 100% interest in the 3,336-hectare Snip North Project. Hanstone has a highly experienced team of industry professionals with a successful track record in the discovery of gold deposits and in developing mineral exploration projects through discovery to production. Ray Marks, President and Chief Executive Officer For Further Information Contact: Carrie Howes, Director of Communications, +1-(778)-551-8488, carrie.howes@hanstonegold.com Or visit the Company's website at www.hanstonegold.com Cautionary Statement Regarding Forward Looking Information: The information contained herein contains |