Breaking Mining Stock News:
Getchell Gold Corp. (CSE: $GTCH.CN) (OTCQB: $GGLDF) Announces Final Tranche of
Debenture Financing; @getchell_gold
VANCOUVER, BC - April 25, 2024
(Investorideas.com Newswire) Getchell Gold Corp. (CSE: GTCH)
(OTCQB: GGLDF)
(FWB: GGA1) ("Getchell" or the "Company") is pleased to
announce the final tranche of its debenture financing (the "Debenture
Financing"). In this third tranche of the Debenture Financing, the Company
has subscriptions for $1,441,900 principal amount of non-convertible
debentures, for total aggregate funds of $4,363,318 across all tranches of the
Debenture Financing. In connection with this closing, the Company will issue
14,419,000 warrants (each a "Debenture Warrant"). Each Debenture
Warrant will entitle the holder to purchase a common share of the Company at
$0.10 per share for three years. 50% of the Debenture Warrants will vest on
closing and the remaining 50% will vest and be exercisable 14 months following
closing if the Debenture has not been repaid prior to that vesting date.
Read this news, featuring GTCH in full at
https://www.investorideas.com/news/2024/04251GTCH-Debenture-Financing.asp
In connection with the third tranche of the Debenture Financing,
the Company may issue finder's fees. The proceeds from the third tranche of the
Debenture Financing will be used to conduct exploration work on the Company's
properties and for general working capital.
It is
anticipated that one insider of the Company will participate in the Debenture
Financing. The Debenture Warrants of this insider will be exercisable at $0.16
per share for three years, with the same vesting terms as applicable to the
other Debenture Warrants. The insider's participation constitutes a
"related party transaction" under Multilateral Instrument 61-101
Protection of Minority Security Holders in Special Transactions ("MI
61-101"). The Company intends to rely on the exemptions from the formal
valuation and minority shareholder approval requirements under section 5.5(a)
and section 5.7(1)(a) of MI 61-101, as the fair market value of the securities
issued to the related party will not exceed 25% of the Company's market
capitalization.
The securities to be issued in connection with the third tranche
of the Debenture Financing are subject to a statutory hold period of four
months from the date of issuance in accordance with applicable securities laws.
Closing of the third tranche of the Debenture Financing is subject to approval
of the Canadian Securities Exchange.
The securities offered have not been and will not be registered
under the United States Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or applicable
exemption from the registration requirements.
About Getchell Gold Corp.
The Company is a Nevada focused gold and copper exploration
company trading on the CSE: GTCH, OTCQB: GGLDF, and FWB: GGA1. Getchell Gold is
primarily directing its efforts on its most advanced stage, 100% owned,
Fondaway Canyon gold project, a past gold producer with a large mineral
resource estimate. Complementing Getchell's asset portfolio are the 100% owned;
Dixie Comstock, a past gold producer with a historic resource and two earlier
stage exploration projects, Star (Cu-Au-Ag), and Hot Springs Peak (Au)
projects. Fondaway Canyon and Dixie Comstock properties are located in
Churchill County, Nevada.
For further information please visit the Company's website at www.getchellgold.com or
contact the Company at info@getchellgold.com.
The
Canadian Securities Exchange has not reviewed this press release and does not
accept responsibility for the adequacy or accuracy of this news release.
Certain
information contained herein constitutes "forward-looking
information" under Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements with respect to
issuance of shares and options to WA Group LLC, and the use of proceeds from
the Unit Financing. Generally, forward-looking information can be identified by
the use of forward-looking terminology such as "will" or variations
of such words and phrases or statements that certain actions, events or results
"will" occur. Forward-looking statements are based on the opinions
and estimates of management as of the date such statements are made and they
are subject to known and unknown risks, uncertainties and other factors that
may cause the actual results to be materially different from those expressed or
implied by such forward-looking statements or forward-looking information.
Although management of Getchell have attempted to identify important factors
that could cause actual results to differ materially from those contained in
forward-looking statements or forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on
forward-looking statements and forward-looking information. The Company will
not update any forward-looking statements or forward-looking information that
are incorporated by reference herein, except as required by applicable
securities laws.
SOURCE Getchell Gold Corp.
Getchell
Gold (CSE:GTCH.CN;OTCQB:GGLDF)
is a featured mining stock on Investorideas.com
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