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VANCOUVER, British Columbia, Feb. 13, 2018 (GLOBE NEWSWIRE) -- Levon Resources Ltd. (TSX:LVN) (“Levon” or “the Company”) announces that it has amended and closed its previously announced non-brokered private placement (the “Placement”) through the issuance of units of the Company (“Units”) at a price of C$0.35 per Unit, for total gross proceeds of $899,925. Each Unit will consist of one common share and one common share purchase warrant (each a "Warrant") entitling the holder to acquire one common share of the Company at a price of C$0.50 per common share for a period of two years from the closing of the Placement.
The Placement resulted in the issuance of 2,571,214 common shares of the Company and 2,571,214 Warrants. Proceeds will be utilized for corporate costs and working capital.
Securities sold pursuant to the Placement are subject to a four month resale hold, expiring June 14, 2018, under applicable Canadian securities laws.
About Levon Resources Ltd.
Levon is a gold and precious metals exploration Company, exploring the company's 100% owned flagship Cordero bulk tonnage silver, gold, zinc, and lead project near Hidalgo Del Parral, Chihuahua, Mexico.
For further information, contact the Company IR Direct at 604-682-2991, or main office number 778-379-0040.
ON BEHALF OF THE BOARD
President and Chief Executive Officer
Neither the Toronto Stock Exchange (the "TSX") nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
Safe Harbour Statement - This news release contains "forward-looking information" and "forward-looking statements" (together, the "forward looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements, include, but are not limited to, statements regarding the listing and trading of the Levon Shares on the TSX and are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements.