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Golden Tag Resources Ord Shs V.GOG


Primary Symbol: GTAGF

Silver Storm Mining Ltd., formerly Golden Tag Resources Ltd., is a Canada-based mineral resource exploration company. The Company is focused on advanced stage silver projects located in Durango, Mexico. The Company’s project portfolio includes La Parrilla and San Diego Property. The La Parrilla project is located in Durango State, Mexico, approximately 76 kilometers southeast of Durango's capital and comprises 41 contiguous mining concessions in good standing, covering 69,478 hectares (ha). La Parrilla hosts five underground mines surrounding the mill, including Rosarios, La Rosa, San Jose, Quebradillas and San Marcos, and the Quebradillas open pit. The San Diego Property, which covers 92 ha, is located 75 km southwest of the city of Torreon, four km east-northeast (ENE) of the Company’s San Juana Mine and 13 km NE of Penoles’ Santa Maria Mine in north-east (NE) Durango State, Mexico.


OTCQB:GTAGF - Post by User

Post by gottahavegoldon Sep 20, 2019 7:42am
195 Views
Post# 30146733

MORE good news

MORE good newsEric Sprott on board, this story just keeps on getting better.



Golden Tag Resources Closes $1.5 Million Financing Including Strategic Investment by Eric Sprott

V.GOG

MONTREAL, Sept. 20, 2019 (GLOBE NEWSWIRE) -- Golden Tag Resources Ltd. (TSX.V: GOG) (the "Company" or “Golden Tag”) is pleased to announce that it has closed its private placement offering, issuing 30,000,000 units (“Units”) at a price of $0.05 per Unit for gross proceeds of $1,500,000 (the “Private Placement”). The largest single investor in the Private Placement is Mr. Eric Sprott, through his company 2176423 Ontario Ltd., which subscribed for 13,000,000 Units. As a result, Mr Sprott is now the single largest beneficial equity securityholder of Golden Tag holding 13.7% of its issued and outstanding common shares (“Shares”). Members of management and the board of directors subscribed for an aggregate of 2,800,000 Units in the Private Placement. 

Each Unit consists of a Share and one-half share purchase warrant (the "Warrants"). Each whole Warrant will entitle the holder to purchase one additional Share at a price of $0.07 until September 19, 2021. All securities issued will be subject to a four-month hold period.

“We are very pleased to have closed this financing with several strategic investors, including Eric Sprott, the PowerOne group and Chad Williams who recently joined the company as a director and chair of the board,” commented Marc Carrier, President, adding “Their extensive mineral investment experience is well known and we very much value their involvement. We intend to use this addition to our working capital in part to seek and evaluate future opportunities to complement our existing assets.”

PowerOne Capital Markets Limited acted as a finder in connection with the Private Placement. A 7% cash finder’s fee was paid together with the issuance of finder warrants (the “Finder Warrants”) equal to 7% of the Units placed. Each Finder Warrant entitles the holder to acquire one Unit for $0.05 until September 19, 2021.

Additional Mandated Disclosure Respecting Mr Sprott’s Investment in the Company
The following disclosure is provided by Mr. Sprott who assumes responsibility for it. Mr. Sprott through 2176423 Ontario Ltd., a corporation that is beneficially owned by him, acquired 13,000,000 Units pursuant to the Private Placement for a total consideration of $650,000. Prior to the Private Placement, Sprott beneficially owned or controlled 2,070,332 Shares of Golden Tag. As a result of the Financing, Sprott beneficially owns or controls 15,070,332 Shares and 6,500,000 Warrants of the Company representing approximately 13.7% of the issued and outstanding Shares of the Company on a non-diluted basis and approximately 18.5% of the issued and outstanding Shares of the Company assuming exercise of the warrants acquired hereunder and forming part of the Units.

The Units were acquired by Mr Sprott for investment purposes. Mr Sprott has a long-term view of the investment and may acquire additional securities of Golden Tag including on the open market or through private acquisitions or sell securities of Golden Tag including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other factors that Mr. Sprott considers relevant from time to time.


Read more at https://stockhouse.com/news/press-releases/2019/09/20/golden-tag-resources-closes-1-5-million-financing-including-strategic#OEsdm9L2VWMRko0j.99

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