(TheNewswire)
Shares issued 45,551,210
VG Close - C$0.30
W/C +$7.5 Million cash
Vancouver, British Columbia – TheNewswire – April 12, 2022 -Volcanic Gold Mines Inc. (TSXV:VG) announces that its management has determined that it is in the best interests of the Company to extend the expiry date of certain common share purchase warrants exercisable at $0.70 per share which were issued in October 2020 pursuant to the Company’s public offering and concurrent private placement. Accordingly, subject to TSX Venture Exchange acceptance, the expiry date of:
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6,273,250 outstanding warrants issued pursuant to the public offering, and
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1,558,550 outstanding warrants issued pursuant to the concurrent private placement,
will be extended by one year, from April 20, 2022 to April 20, 2023.
About Volcanic
Volcanic brings together an experienced and successful mining, exploration and capital markets team focusedonbuildingmulti-million-ouncegoldandsilverresourcesinunderexploredcountries.Throughthe strategic acquisition of mineral properties with demonstrated potential for hosting gold and silver resources, and by undertaking effective exploration and drill programs, Volcanic intends to become a leading gold-silvercompany.
For further information, visit our website at www.volgold.com.
Volcanic Gold Mines Inc.
Simon Ridgway, President and CEO
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation.All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, statements about the proposed warrant extension. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”,“estimates”,“estimated”,“potential”,“open”,“future”,“assumed”,“projected”,“used”,“detailed”,“has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negativevariations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actualresults,performanceorachievementsoftheCompanytobemateriallydifferentfromanyresults,performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, whether the proposed warrant extension will be completed as intended; the Company’s planned exploration work will be proceed as intended; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses;andsuchotherrisksdetailedfromtimetotimeintheCompany’squarterlyandannualfilingswithsecurities regulators and available under the Company’s profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated orintended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management,includingbutnotlimitedto:that the proposed warrant extension will be completed as intended; theCompany’sstatedgoalsandplannedexplorationanddevelopment activitieswillbeachieved;thattherewillbenomaterialadversechangeaffectingtheCompanyoritsproperties;and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Companydisclaimsanyobligationtoupdateanyforward-lookingstatements,whetherasaresultofnewinformation, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statementswillprovetobeaccurate,asactualresultsandfutureeventscoulddiffermateriallyfromthoseanticipated in such statements. Accordingly, investors should not place undue reliance on forward-lookingstatements.
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