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The TSXV’s final acceptance of the Acquisition is subject to Medgold’s completion of all remaining filing requirements of the TSXV. The parties are continuing to work closely together to satisfy the remaining conditions precedent to completion of the Acquisition, including seeking approval by the Medgold shareholders, as well as completing the proposed
Key Terms of the Concurrent Financing
BMC is to complete a non-brokered private placement of a minimum of 10,000,000 subscription receipts (the “Subscription Receipts”) at a price of
Each Unit will consist of one common share of the Resulting Issuer (a “Resulting Issuer Share”) and one share purchase warrant entitling the holder to purchase one additional Resulting Issuer Share for a period of two years following closing of the Acquisition at a price of
Finder's fees may be paid on all or a portion of the Concurrent Financing. The net proceeds of the Concurrent Offering are intended to be used to fund the first phase of an exploration program on the
Trading in Medgold’s common shares continues to be halted and is expected to remain halted until completion of the Acquisition.
About
Additional information on Medgold can be found on the Company’s website atwww.medgoldresources.comand by reviewing the Company’s page on SEDAR atwww.sedar.com.
ON BEHALF OF THE BOARD
For Further Information, Contact:
Neither the
Forward-looking Information
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking information and include, without limitation, statements regarding the proposed Acquisition transactions. Often, but not always, this forward-looking information can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”,“reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Medgold and the Resulting Issuer to be materially different from any results, performance or achievements expressed or implied by forward-looking information. Such uncertainties and factors include, among others, whether the Company will obtain all required approvals of the Acquisition and the Concurrent Financing; the completion of the Concurrent Financing and related transactions; the use of proceeds of the Concurrent Financing; whether the Acquisition will be completed as planned; changes in general economic conditions and financial markets; risks associated with the results of exploration and development activities, and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in Medgold’s quarterly and annual filings with securities regulators and available under Medgold’s profile on SEDAR atwww.sedar.com. Although Medgold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking information contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Acquisition will be completed as planned; that the resulting company’s stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the resulting company or its properties; and such other assumptions as set out herein. Forward-looking information has been made as of the date hereof and Medgold disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.
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Copyright (c) 2023 TheNewswire - All rights reserved., source