RE:RE:ago will get 1000000 shares of newrange Aurcrest Gold arranges $700,000 financing
2020-11-19 09:52 ET - News Release
Mr. Ian Brodie-Brown reports
AURCREST GOLD ANNOUNCES $700,000 BROKERED PRIVATE PLACEMENT
Aurcrest Gold Inc. is proceeding with a brokered private placement of up to 11,666,667 working capital units of the company at a price of six cents per WC unit for up to $700,000 to provide the company with working capital. The Offering is being led on a best efforts basis by IBK Capital. The Offering is subject to approval from the TSX Venture Exchange.
Each WC Unit consists of one (1) common share of the Company priced at $0.06 per common share and one-half (0.5) of a common share purchase warrant with each full warrant (each a "WC Warrant") entitling the holder to acquire one (1) common share until two (2) years from the closing of the Offering at a price of $0.10.
The Company has agreed to pay IBK Capital a commission of 7% cash and issue broker warrants ("Broker Warrants") equal to 10% of the number of WC Units sold under the Offering. Each Broker Warrant entitles the holder to acquire a WC Unit for two (2) years from Closing at a price of $0.06 per Broker Warrant.
All securities to be issued pursuant to the above-referenced private placement will be subject to a statutory four month and one day hold period.
AurCrest Gold is a leader in the First Nations advancement into shared participation and inclusion in the regional mining opportunities and counts as its board of directors and management, past and present, many indigenous business and cultural leaders. AurCrest is proud to play a leading role in the gold exploration of Northwestern Ontario, especially in the Birch-Uchi Greenstone Belt and the Red Lake mining district, as it forges new business relationships between Canada's founding cultures.
About IBK Capital Corp.IBK Capital is an independent and privately owned investment banking firm which offers a full range of financial advisory services. Such services include private placements of equity and debt, going public by way of reverse take-over, merger, acquisition and divestiture advisory services, valuations, fairness opinions and take-over defence planning. The Firm's corporate objective is to provide the highest quality independent financial advisory services to its clients.
About AurCrest Gold Inc.AurCrest is a mineral exploration company focused on the acquisition, exploration, and development of gold properties. AurCrest has a portfolio of properties in Ontario, which include the Richardson Lake and Bridget Lake gold properties.