GFTRF - Gold'n Futures Non-Brokered Private Placement of Units
(TheNewswire)
VANCOUVER, BC – TheNewswire – November 21, 2023 - GOLD’N FUTURES MINERAL CORP . (CSE:FUTR)(FSE:G6M), (OTC:GFTRF) (the “ Company ” or “ Gold’n Futures ”)is pleased to report the closing of its non-brokered private placementoffering of units (the “ Private Placement ”) of the Company asannounced on October 31, 2023. All securities issued in connectionwith the Private Placement are subject to a hold period that expiresMarch 18, 2024. Gold’n Futures has issued 11,500,000 units toraise gross proceeds of $115,000. In addition, the Company will payfinders’ fees of $11,500 in cash, 805,000 common shares and 805,000share purchase warrants (as defined below).
Each unit (“ Unit ”) consists of one common share of theCompany (“ CommonShare ”) and one Common Share purchase warrant(“ Warrant ”), with each Warrant entitling the holder to purchase oneadditional Common Share at a price of C$0.05, at any time prior to thedate which is sixty (60) months from the closing of the privateplacement (“ ClosingDate ”); provided that, if at any time afterthe Closing date, the volume weighted average trading price of theCommon Shares on the CSE is at least C$0.10 per share for thepreceding ten (10) consecutive trading days, the Company has the rightto accelerate the expiry date of the Warrants issued under theOffering (“ WarrantAcceleration Right ”) by way of written noticeand press release. Subject to the Warrant Acceleration Right, theexpiry date of the Warrants shall occur thirty (30) days from the endof the abovementioned ten (10) consecutive trading days and anyWarrants not exercised during the thirty (30) day term shallexpire.
The Company intends to use the proceeds of the Offeringfor general working capital purposes and exploration expenses.
Qualified Person
The scientific and technical content of this press release has beenprepared, reviewed and approved by Mr. Walter Hanych, P. Geo., who isa Qualified Person under NI 43-101 regulations and is a director ofthe Company.
About Gold’n Futures MineralCorp.
Gold’n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M) (OTC: GFTRF) isa mineral exploration company with two advanced Canadian goldprojects . The Hercules Gold Project is 195 km northeast ofThunder Bay, Ontario in the Beardmore – Geraldton gold mining camp. It is 54 km north west of Equinox Gold’s Greenstone gold mine thatreportedly boasts 5.5 million ounces of Proven and Probable Reserves( https://www.equinoxgold.com/growth-projects/greenstone-project/ ). The Hercules Property consists of 425 contiguous claims(11,370 ha). From the historical and its current work, the Companyhas built a comprehensive database and model and is preparing a newMineral Resource Estimate based upon current and historical drillingtotalling the order of 537 holes comprising 114,000 m of core.
The Brady-Huxter Gold Project is in CentralNewfoundland, 50 km southeast of the town of Gander. TheBrady-Huxter property consists of nine mineral licenses, which cover2,350 ha and contains two large porphyry-hosted gold deposits, theReid and Mosquito Hill. These deposits have a combined drill-definedhistorical resource estimate of 59.5 million tonnes containing 938,753oz of indicated and inferred gold mineralization (see Gold’n Futuresnews of October 16, 2023).
Gold’n Futures is conducting programs to expand itsgold resources and to develop viable gold mining operations throughthe application of extensive geological experience and knowledgecombined with advanced technologies and computer modeling.
For more information, please visit our website at: www.goldnfuturesmineralcorp.com
On behalf of the Board ofDirectors
For further information
Stephen Wilkinson,
President and CEO,
Email: stephen@goldnfutures.com
Forward-Looking Statements:
This news release includes certainforward-looking statements and forward-looking information(collectively, "forward-looking statements") within themeaning of applicable Canadian securities legislation. Allstatements, other than statements of historical fact, included hereinincluding, without limitation, statements regarding the trading of theCompany’s common shares on the Canadian Securities Exchange, futurecapital expenditures, anticipated content, commencement, and cost ofexploration programs in respect of the Company's projects and mineralproperties, anticipated exploration program results from explorationactivities, resources and/or reserves on the Company's projects andmineral properties, and the anticipated business plans and timing offuture activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable,it can give no assurance that such expectations will prove to becorrect. Often, but not always, forward looking information can beidentified by words such as "pro forma", "plans","expects", "will", "may","should", "budget", "scheduled","estimates", "forecasts", "intends","anticipates", "believes", "potential"or variations of such words including negative variations thereof, andphrases that refer to certain actions, events or results that may,could, would, might or will occur or be taken or achieved. In makingthe forward-looking statements in this news release, the Company hasapplied several material assumptions, including without limitation,that market fundamentals will result in sustained precious and basemetals demand and prices, the receipt of any necessary permits,licenses and regulatory approvals in connection with the futureexploration of the Company's properties, that the COVID-19 globalpandemic will not affect the ability of the Company to conduct theexploration program on the Hercules Gold Project, the availability offinancing on suitable terms, and the Company's ability to comply withenvironmental, health and safety laws.
Forward-looking statements involveknown and unknown risks, uncertainties and other factors which maycause the actual results, performance or achievements of the Companyto differ materially from any future results, performance orachievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as tothe anticipated business plans and timing of future activities of theCompany, including the Company's option to acquire the Hercules GoldProject, the proposed expenditures for exploration work thereon, theability of the Company to obtain sufficient financing to fund itsbusiness activities and plans, delays in obtaining governmental andregulatory approvals (including of the Canadian Securities Exchange),permits or financing, changes in laws, regulations and policiesaffecting mining operations, risks relating to epidemics or pandemicssuch as COVID–19, including the impact of COVID–19 on theCompany's business, financial condition and results of operations, theCompany's limited operating history, currency fluctuations, titledisputes or claims, environmental issues and liabilities.
Readers are cautioned not to placeundue reliance on forward-looking statements. The Company undertakesno obligation to update any of the forward-looking statements in thisnews release except as otherwise required by law.
Mineral Resources which are notMineral Reserves, do not have demonstrated economic viability. Theestimate of Mineral Resources may be materially affected by metalprices and exchange rate assumptions; changes in local interpretationsof mineralization geometry and continuity; changes to grade capping,density and domain assignments; changes to geotechnical, mining andmetallurgical recovery assumptions; ability to maintain environmentaland other regulatory permits; and ability to maintain the sociallicense to operate. The estimate of Mineral Resources may bematerially affected by environmental permitting, legal title,taxation, socio-political, marketing, or other relevant issues.Mineral Resources are classified according to Canadian Institute ofMining, Metallurgy and Petroleum ("CIM") DefinitionStandards (2014) and CIM Best Practices (2019). The Inferred MineralResource in this estimate has a lower level of confidence than thatapplied to an Indicated Mineral Resource and cannot be converted to aMineral Reserve. It is reasonably expected that the majority of theInferred Mineral Resource could be upgraded to an Indicated MineralResource with continued exploration.
The Canadian Securities Exchangeaccepts no responsibility for the adequacy or accuracy of thisrelease.
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