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Abstract
The Company is also pleased to announce that is has entered into a letter of intent with Canaccord Genuity Corp. ("Canaccord") pursuant to which Canaccord has agreed to offer for sale on a commercially reasonable efforts private placement basis (the "Unit Offering") up to 5,000,000 units (the "Units") of the Company at $0.25 per Unit. In addition, the Company will be concurrently offering a non-brokered private placement of up to 1,300,000 flow-through shares ("FT Shares") at a price per FT Share of $0.30 for aggregate gross proceeds of up to $390,000 (the "FT Offering"). Details of the financings are discussed below.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, including without limitation, the Copper Hill transaction, the Unit Offering and the FT Offering, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "could" or "should" occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that cause the actual results to differ materially from those in forward-looking statements include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com for further information.