World News – CA – Kestrel Gold – Announces the Close of $ 310,000 No Broker Private Placement

CALGARY, AB / ACCESSWIRE / November 17, 2020 / Kestrel Gold Inc. (« The Corporation ») (TSXV: KGC) announces that it has closed its private placement (« Private Placement ») of 3,875,000 units of the company (« Units ») at a price of $ 0. 08 per unit, for a total revenue of $ 310,000. Each unit consists of one common share (« ordinary share ») and half of an order to purchase one common share (« guarantee »), with each memorandum authorizing its holder to acquire one common share, for a period of 24 months from the date of issue at a price of $ 0. 16 per share for the first 18 months and at a price of $ 0. 20 per share after that.

The proceeds from the net private placement will be used to cover exploration expenses and working capital.

Since the only subscriber to the units is an insider from within the organization, the private placement is a « related party transaction » within the meaning of the multilateral tool 61-101 (« MI 61-101 »), which requires the organization to acquire Minority approval of the shareholders of the company in the transaction of the related party unless there is an exemption from this condition. The Foundation relies on the exemption in Article 5. 7 (a) from MI 61-101 on the basis that the fair market value of the securities distributed to the related party is less than 25% of the corporation’s market value.

Common stocks and notes are subject to a statutory four-month holding period ending on March 17, 2021.

Kestrel Gold Corporation. It is a gold mining company headquartered in western Canada. The company focuses on gold exploration within the Canadian Cordillera region, with an emphasis on hard rock targets located in alluvial gold mining areas.. Kestrel is listed on TSX Venture under the symbol KGC. Readers are encouraged to refer to the company’s website www. KestrelGold. com « for more information.

The information and data included in this press release contain some forward-looking information. This forward-looking information relates to future events or the future performance of the organization. In particular, this document contains information and forward-looking statements regarding the use of the proceeds from the private placement. All statements other than historical fact statements may be forward-looking information. This forward-looking information is subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those expected or included in the forward-looking information.. These include assumptions, in relation to the use of revenues, that historical costs and expenses will be representative of future costs and expenses. The organization’s actual results, performance, or accomplishments may differ materially from those expressed or implied in this forward-looking information, and therefore no guarantees can be made that any of the events anticipated through the forward-looking information will occur or occur.. Or, if any of them did, what benefits would the foundation reap from it. The Company’s forward-looking information is expressly qualified in its entirety under this warning statement. Except as required by law, the company does not undertake any obligation to update or review any publicly forward-looking information.

Neither TSX Venture EXCHANGE nor the regulatory services provider (as defined in the TSX Venture Exchange policies) accepts responsibility for the sufficiency or accuracy of this release..

Get full access to all new and archived articles, unlimited wallet tracking, email alerts, personalized news and RSS feeds – and more!

Private Placement, Guarantee, Financing, TSX Venture Exchange, Corporation, Security