Gold mining company Fairchild Gold concludes private funding round
Fairchild Gold Corp., a mineral exploration company focused on acquiring, exploring, and developing high-quality mineral properties in mining-friendly jurisdictions, has announced the completion of a non-brokered private placement financing. The financing raised gross proceeds of C$1,080,000.
The financing issued 18,000,000 units at a price of $0.06 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant is convertible into an additional common share at an exercise price of $0.15 for a period of 60 months.
The news release contains forward-looking information regarding the use of proceeds of the Offering and the Company's business plans, expectations, and objectives. However, it's important to note that forward-looking information is subject to known and unknown risks, uncertainties, assumptions, and other factors, many of which are beyond the Company's control. The forward-looking information set forth in the news release reflects the Company's expectations as of the date of this news release and is subject to change after such date.
The Offering constitutes a "related party transaction" under Multilateral Instrument 61-101. The institutions that acquired the warrants related to the investor subscription of Fairchild Gold Corp. have not been publicly disclosed.
The Company did not file a material change report more than 21 days before the expected closing date of the Offering. The TSX Venture Exchange did not accept responsibility for the adequacy of this news release.
For additional information regarding these and other factors and assumptions, see the Company's most recent Management's Discussion and Analysis and financial statements filed with the Canadian securities commissions and available at www.sedarplus.ca under the Company's profile and on the Company's website, https://fairchildgold.com/.
Contact information for Fairchild Gold Corp. includes email addresses at [email protected] and [email protected], phone number (866) 497-0284, and website www.fairchildgold.com. Nikolas Perrault is the Executive Chairman of Fairchild Gold Corp.
The securities issued under the Offering are subject to a statutory hold period. The news release is not for distribution to U.S. news wire services or for dissemination in the United States. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by law. The warrants include an acceleration clause that can be triggered if the common shares' average price reaches $0.50 for 5 consecutive trading days.
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