Proceeds to be Used for Drilling at Slate Falls and Fieldwork at West Madsen
VICTORIA, BC / ACCESSWIRE / September 23, 2019 / GoldON Resources Ltd. (TSXV:GLD) ("GoldON" or the "Company") is pleased to announce that it has arranged a non-brokered private placement of 800,000 flow-through units at a price of $0.65 per unit with qualified investors to raise $520,000 in gross proceeds. Each unit will consist of one flow-through share and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional non-flow-through common share of the Company at a price of $1.00 per share for a period of two years from the closing date.
Completion of this financing is subject to TSX Venture Exchange acceptance. The Company may pay a finder's fee of up to 6% cash and 6% agent's warrants on subscription proceeds. All securities issued pursuant to this offering will have a hold period expiring four months after the closing date.
The Company will use the net proceeds of the financing to fund the forthcoming drilling program at its 100% owned Slate Falls gold-silver project; and Phase II fieldwork on the West Madsen gold project, an option/JV with Great Bear Resources.
About GoldON Resources Ltd.
GoldON is an exploration company focused on discovery-stage properties located in the prolific gold mining belts of northwestern Ontario, Canada. Active projects include the West Madsen property in the Red Lake Gold Camp and our flagship Slate Falls project in the Patricia Mining Division where 18 Au-Ag mineralized zones have been identified over the 11-kilometre breadth of the property. GoldON currently has 14,124,782 shares issued.
For additional information please visit our website and view our corporate presentation by clicking here.
ON BEHALF OF THE BOARD
Signed "Michael Romanik"
Michael Romanik, President
Direct line: (204) 724-0613
Email: [email protected]
###
Neither 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 release.
SOURCE: GoldON Resources Ltd.