MONTREAL, Sept. 11, 2019 (GLOBE NEWSWIRE) -- Golden Tag Resources Ltd. (TSX.V: GOG) (the "Company") is pleased to announce a private placement for an aggregate of $1,500,000 comprised of 30,000,000 units (the "Units") at a price of $0.05 per Unit. Each Unit consists of one common share (the "Shares") and one-half share purchase warrant (the "Warrants"). Each whole Warrant will entitle the holder to purchase one additional Share at a price of $0.07 for a period of 24 months from the date of issue of the Warrants.
The Company also announces the appointment of Mr. Chad Williams as a director and Chairman of the Board. Mr. Williams is the Chairman and founder of Red Cloud Klondike Strike. He has extensive experience in mining finance and management having previously held the position of CEO of Victoria Gold Corp., Head of Mining Investment Banking at Blackmont Capital Inc., and a highly ranked mining analyst at TD Bank and other Canadian brokerage firms. Mr. Williams holds both a P.Eng in Mining and an MBA from McGill University.
Proceeds from the financing will be used for general working capital.
All securities issued will be subject to a four-month hold period. Closing of the private placement is subject to the approval of the TSX Venture Exchange and is expected to close on or about September 19th, 2019. Finder’s fees, including cash and 7% finders warrants in accordance with regulatory policy will be payable.
About Golden Tag Resources
Golden Tag Resources Ltd. is a Montreal based junior exploration company exploring for high-grade silver deposits. The Company holds a 100% interest in the San Diego property in Durango State, Mexico. The San Diego property is located within the Velardeña Mining District, the site of several mines having produced silver, zinc, lead and gold over the past century. For more information regarding the San Diego property please visit our website at www.goldentag.ca. Golden Tag has no debt and presently has 79,806,558 shares issued and outstanding.
For additional information, please contact:
Marc A. Carrier, President & CFO
Ph: (514) 426-8542
Fax: (514) 426-8543
Email: pres@goldentag.ca
www.goldentag.ca
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.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain forward-looking statements within the meaning of applicable securities including the anticipated completion of a private placement. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. Estimates of mineral resources and reserves are also forward-looking statements because they constitute projections regarding the amount of minerals that may be encountered in the future. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms and completion of the transaction are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made, and the respective companies undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.