Financing and dilution Advance Gold Announces Private Placement Financing
Kamloops, British Columbia--(Newsfile Corp. - February 5, 2020) - Advance Gold Corp. (TSXV: AAX) ("Advance Gold" or "the Company") announces that, subject to the approval of the TSX Venture Exchange, it proposes to undertake a non-brokered private placement of units (the "Units") at a price of 10 cents ($0.10) per Unit (the "Financing"). Each Unit shall be comprised of one common share in the capital of the Company and one common share purchase warrant with each warrant being exercisable to purchase one common share at a price of twelve cents ($0.12) per share at any time within 24 months of the date of issuance.
The Financing will be for a maximum of $250,000 resulting in 2,500,000 Units being issued. Funds will be used to advance the Tabasquena project and for general corporate purposes.
The Company intends to close the private placement immediately following the satisfaction of customary closing conditions, including receipt of all regulatory approvals. There are no material facts or material changes relating to the Company that have not been previously disclosed.