FPVTF - Golden Pursuit Raising up to $900000 to Advance Gordon Lake Project
(TheNewswire)
Vancouver, B.C., Canada - TheNewswire - November 8, 2021 - Golden Pursuit Resources Ltd. (the “Company”) (TSXV:GDP) OTC:FPVTF) willraise up to $900,000 through a non-brokered private placementconsisting of up to 2,000,000 non-flow-through common shares at $0.15per shares and up to 4,000,000 flow-through common shares at $0.15 pershare. The Company will pay finders fees comprised of a combination ofcash and warrants.
The flow-through shares will qualify as “flow-throughshares” for the purposes of the Income Tax Act (Canada) (the“Act”). The Proceeds of the flow-through private placement will beused to incur “Canadian exploration expense” (within the meaningof the Act). The Company will renounce these expenses to thepurchasers with an effective date of no later than December 31, 2022,and as required under the Act.
The company will use the financing to primarilyadvance the Gordon Lake Project. The company is in the process ofsubmitting a land use permit to the Mackenzie Valley Land and WaterBoard to cover line cutting, ground and airborne geophysics, campbuild, geological and geochemical sampling, geological mapping anddiamond drilling. We expect the permit to be issued shortly. Nonflow-through funds will be used for generatingadditional projects and general working capital.
The company will work systematically towards a drillprogram to optimize target selection. Significant historicalintersections have been returned at Kidney Pond (65.92 g/t Au over4.54 meters) with the largest intersection returning 4.36 g/t Au over44.7 meters. For instance, we are establishing geophysical templateat Kidney Pond to help evaluate other areas where quartz brecciazones have been found.
Golden Pursuit is committed to establishing a compliantresource at Kidney Pond but also looking to identify additionalresources.
All securities issued will be subject to a four monthhold period which will expire on the date that is four months and oneday from the date of issue.
The foregoing is subject to the approval of the TSXVenture Exchange.
Golden Pursuit Resources Ltd.
Per: “Brian McClay”
Brian McClay, President
CONTACT INFORMATION:
Brian McClay
Email: bmcclay@aol.com
Tel: (604) 730-6982
Neither 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 this release.
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