Not for distribution to United States news wire services or for dissemination in the United States
Vancouver, British Columbia--(Newsfile Corp. - June 24, 2024) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to announce that, further to its news release of June 20, 2024, the Company has completed its previously-announced non-brokered private placement of flow-through common shares of the Company (each a "FT Share") for aggregate gross proceeds of C$4,058,621 (the "Offering"). The Offering was comprised of the issuance of an aggregate of 33,821,842 FT Shares, at an issue price of C$0.12 per FT Share.
The Company is also pleased to announce that, subsequent to the completion of the Offering, Agnico Eagle Mines Limited ("Agnico Eagle") acquired, pursuant to an agreement among Agnico Eagle and an arm's length third party, an aggregate of 33,821,842 common shares in the capital of the Company ("Common Shares"). Following this transaction, Agnico Eagle now beneficially owns an aggregate of 74,674,257 Common Shares, representing 19.9% of the Company's issued and outstanding Common Shares.
"We are grateful for Agnico Eagle's continued support through its continued investment in the Company," stated Kiran Patankar, President and CEO of Maple Gold. "With our balance sheet strengthened and our planned 2024 exploration programs now fully financed, we are excited to follow up on the significant resource expansion and discovery potential across our district-scale gold projects in Québec. The Company anticipates the resumption of drilling later this year and expects to provide additional details on our future activities in due course."
The gross proceeds from the sale of the FT Shares will be used by the Company to incur "Canadian exploration expenses" within the meaning of the Income Tax Act (Canada) and the Taxation Act (Québec), on its properties in the province of Québec on or before December 31, 2025. All securities issued under the Offering are subject to a hold period of four months and one day from the closing date of the Offering, in accordance with the rules and policies of the TSX Venture Exchange ("TSXV") and applicable Canadian securities laws. The Offering remains subject to the final acceptance of the TSXV.
Maple Gold Webinar with Adelaide Capital
Maple Gold's CEO Kiran Patankar will be presenting an investor update on a webinar hosted by Adelaide Capital on Monday, June 24, 2024, at 2:00 p.m. Eastern Time (US and Canada).
Webinar Details:
Date: Monday, June 24, 2024
Time: 2:00 p.m. EDT
Registration Link:
https://us02web.zoom.us/webinar/register/WN_SU-p1nd2Qc-VX5EeqV_F0Q
Registrants will receive a confirmation email containing information about joining the webinar. Questions may be asked during the webinar or can be emailed to info@adcap.ca. A replay will be made available on Maple Gold's website.
About Maple Gold
Maple Gold Mines Ltd. is a Canadian advanced exploration company focused on advancing the district-scale Douay and Joutel gold projects located in Québec's prolific Abitibi Greenstone Gold Belt. The projects benefit from exceptional infrastructure access and boast ~400 km2 of highly prospective ground including an established gold mineral resource at Douay with significant expansion potential as well as the past-producing Telbel and Eagle West mines at Joutel. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property, a key part of the historical Joutel mining complex.
The district-scale property package also hosts a significant number of regional exploration targets along a 55-km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the project ripe for new gold and polymetallic discoveries. The Company is currently focused on carrying out exploration and drill programs to grow mineral resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi. For more information, please visit www.maplegoldmines.com.
ON BEHALF OF MAPLE GOLD MINES LTD.
"Kiran Patankar"
Kiran Patankar, President & CEO
For Further Information Please Contact:
Mr. Kiran Patankar
President & CEO
Tel: 604.639.2536
Email: kpatankar@maplegoldmines.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
Forward Looking Statements and Cautionary Notes:
This news release contains "forward-looking information" and "forward-looking statements" (collectively referred to as "forward-looking statements") within the meaning of applicable Canadian securities legislation in Canada. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective,", "strategy", "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. Forward-looking statements in this news release include, but are not limited to, statements about (i) the intended use of the gross proceeds of the Offering, (ii) the resource expansion and discovery potential across the Company's gold projects, and its intention to pursue such potential, (iii) the timing of anticipated resumption of drilling, (iv) the final acceptance of the TSXV, and (v) the Company's expectations with respect to the foregoing. Although the Company believes that forward-looking statements in this news release are reasonable, it can give no assurance that such expectations will prove to be correct, as forward-looking statements are based on assumptions, uncertainties and management's best estimate of future events on the date the statements are made and involve a number of risks and uncertainties. Consequently, actual events or results could differ materially from the Company's expectations and projections, and readers are cautioned not to place undue reliance on forward-looking statements. Factors that could cause future results to differ materially from those anticipated in forward-looking statements in this news release include (i) the risk that the Company may not be able to secure the requisite governmental, regulatory or shareholder approvals, as applicable, necessary to carry out the Offering, (ii) risks and uncertainties related to the Company's ability to complete the Offering and the size of the Offering, and (iii) the tax treatment of the FT Shares. For a more detailed discussion of additional risks and other factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements in this news release, please refer to the Company's filings with Canadian securities regulators available on the System for Electronic Document Analysis and Retrieval Plus (SEDAR+) at www.sedarplus.ca or the Company's website at www.maplegoldmines.com. Except to the extent required by applicable securities laws and/or the policies of the TSXV, the Company undertakes no obligation to, and expressly disclaims any intention to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities 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 may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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