DG:CC - Dixie Gold Inc. Closes Previously Announced Financing
(TheNewswire)
NOT FOR DISSEMINATION IN THE UNITEDSTATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
Vancouver, BritishColumbia/ TheNewswire/ March 15, 2024– Dixie Gold Inc. (TSX VENTURE: DG)(“ Dixie Gold ” or the “ Corporation” ) is pleased to report that ithas closed a non-brokered common share unit financing (the "UnitFinancing") by way of the issuance of five million units (the“Units”) at a price of $0.05 per Unit. Each Unit consists of onecommon share of the Corporation (a “Unit Share”) and one commonshare purchase warrant (a “Warrant”) that entitles the holder of aWarrant, upon further payment to the Corporation, to acquire oneadditional common share of the Corporation (a “Warrant Share”) atan exercise price of $0.05 per Warrant Share on any date prior to thedate which is 60 months following the closing date of the UnitFinancing.
Closing of the Unit Financing occurred on March 15,2024, with conditional approval having been received from the TSXVenture Exchange.
The Units issued under the Unit Financing remainsubject to final regulatory approval and are under a customaryfour-month hold period pursuant to applicable securities laws ofCanada with such period ending July 16, 2024.
The Chairman and Chief Executive Officer of theCorporation (who is an approved Control Person of the Issuer)subscribed for five million Units under the Unit Financingrepresenting an additional financial commitment of $250,000 by Mr.Kalt to the Corporation, therein also further increasing insiderownership levels with more risked funds from management as well asenabling the Corporation to have access to immediate working capital.
There were no finder’s fees paid by the Corporationin the Unit Financing.
Following completion of the Unit Financing, theCorporation has 30,737,188 common shares issued andoutstanding.
MI 61-101 Disclosure
One insider of the Corporation participated in the UnitFinancing for an aggregate total of $250,000 in Units. Theparticipation by such insider is considered a “related-partytransaction” within the meaning of Multilateral Instrument 61-101 - Protection of MinoritySecurity Holders in SpecialTransactions (“ MI 61-101 ”). TheCorporation has relied on exemptions from the formal valuation andminority shareholder approval requirements of MI 61-101 contained in5.5(b) and 5.7(1)(b), respectively, of MI 61-101, as no securities ofthe Corporation are listed or quoted on the Toronto Stock Exchange,Aequitas NEO Exchange Inc., the New York Stock Exchange, the AmericanStock Exchange, the NASDAQ Stock Market, or a stock exchange outsideof Canada and neither the fair market value of the Units to beacquired by the participating insider nor the consideration to be paidby such insider exceeds $2,500,000. The Corporation did not file amaterial change report more than 21 days before the expected closingof the Unit Financing as the details of the participation therein byrelated parties of the Corporation were not settled until shortlyprior to closing of the Unit Financing and the Corporation wished toclose on an expedited basis for sound business reasons.
About Dixie GoldInc.
Dixie Gold Inc. (TSXV: DG) is a publicly tradedexploration company holding a portfolio of exploration projects inCanada.
For more information, please visit www.dixiegold.ca
Signed,
Nicholas Koo
Chief Financial Officer
Dixie Gold Inc.
Forward-Looking Statements
This news release contains forward-looking statementswithin the meaning of Canadian securities laws. Some of theforward-looking statements can be identified by the use offorward-looking words. Statements that are not historical in nature,including the words "anticipate," "expect,""suggest," "plan," "believe,""intend,", “intention” "estimate,""target," "project," "should,""could," "would," "may,""will," "forecast" and other similar expressionsare intended to identify forward-looking statements. Forward-lookingstatements address future events and conditions and therefore involveinherent risks and uncertainties. Actual results may differ materiallyfrom those currently expected or forecast in such statements.
Neither the TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of thisrelease.
Contact Info:
Nicholas Koo
Chief Financial Officer
Dixie Gold Inc.
T: 604.687.2038
E. info@dixiegold.ca
W. www.dixiegold.ca
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