DYG:CC - Dynasty Gold Announces Non-Brokered Private Placement up to $2800000
Vancouver, British Columbia--(Newsfile Corp. - March 30, 2023) - Dynasty Gold Corp. (TSXV: DYG) (FSE: D5G1) (OTC Pink: DGDCF) ("Dynasty" or the "Company") is pleased to announce that it plans to complete a non-brokered private placement of up to $2,800,000 in combination of non flow-through and charity flow-through funds. Each unit of charity flow-through share consists of one common share at $0.30 and one non flow-through common share purchase warrant at $0.27 for a period of two years. Each of the non flow-through Unit consists of one common share at $0.21 and one common share purchase warrant at $0.27 for a period of two years. The financing is subject to TSX Venture Exchange's approval. The units issued under the private placement are subject to a four-month hold period from the date of closing.
The proceeds of the private placement will be used for Thundercloud core drilling program to extend the known mineralized HIGH-grade zone that was discovered in the fall of 2022 drill program, and general working capital.
Mr. Rob McEwen has agreed to subscribe for up to $1,200,000 from an entity controlled by Mr. McEwen. Mr. McEwen is the Chairman and Chief Owner of McEwen Mining Inc., and is the founder and former Chairman and CEO of Goldcorp Inc.. Goldcorp was acquired by Newmont Mining in 2019 for US$10 billion.
About Dynasty Gold Corp.
Dynasty Gold Corp. is a Canadian exploration company currently focused on gold exploration in North America with projects located in the Manitou-Stormy Lake greenstone belt in Ontario and in the Midas gold camp in Nevada. The Company is currently advancing its Thundercloud gold deposit which contains an inferred resource of 182,000 ounces gold at 1.37 g/t (NI 43-101 Independent Technical Report, September 27, 2021). The report and the press release with details on the resource can also be found on the Company's and SEDAR websites. The 100% owned Golden Repeat gold project in the Midas gold camp in Elko County, Nevada, is surrounded by a number of large-scale operating mines. For more information, please visit the Company's website www.dynastygoldcorp.com.
ON BEHALF OF THE BOARD OF DYNASTY GOLD CORP.
"Ivy Chong"
_________________________________
Ivy Chong, President & CEO
For additional information please contact:
Ivy Chong, Dynasty Gold Corp
Phone: 604.633.2100. Email: ichong@dynastygoldcorp.com
This press release contains certain "forward-looking statements" that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/160605