GSKKF - Goldseek Resources Announces $850000 Private Placement
(TheNewswire)
November 6, 2020 - TheNewswire - London, Ontario - Goldseek Resources Inc. ( CSE:GSK) (CNSX:GSK.CN) ("Goldseek" or the " Company ")announces that it plans to raise up to $850,000 in flow-through funds(the "Flow-Through Placement") by way of a non-brokeredprivate placement.
This Quebec Flow-Through Placement will consist of thesale of flow-through units at a price of $0.37 per flow-through unitwith each unit consisting of one common share of the Company, which isa "flow-through" share for Canadian income tax purposes, and1/2-transferrable common share purchase warrant.
Each whole warrant will entitle the holder to purchaseone common share of the Company at a price of $0.60 per common sharefor a period of 2 years from closing. The warrants will be subject toaccelerated expiry (the "Accelerated Expiry") if the closingtrading price of the Company's shares is greater than $1.00 per commonshare for a period of 20 consecutive trading days (the"Acceleration Event"). The Company may, in its solediscretion, choose for the Accelerated Expiry to become effective, inwhich case the Company will give notice to the holders that theAcceleration Event has occurred, and that the Accelerated Expiry willcause the Warrants to expire 30 days thereafter.
A Finder's fee may be paid on gross proceeds of thefinancing, as permitted by securities laws.
The Company intends to use the proceeds from theFlow-Through Placement to continue exploration and development of theCompany's Quebec properties.
The securities issued in connection with thistransaction are subject to the Company's filing requirements with theCanadian Securities Exchange, and all securities will be subject to afour-month statutory hold period after closing.
Goldseek's President & CEO Jon Deluce states,"We appreciate the continued support of our institutionalshareholders as we position the Company to benefit from being in theearly stages of this gold bull market. We are well funded forcontinuous work programs through the end of 2021 to target grassrootsdiscovery on our 4 projects. We continue to prepare for our Decembermaiden drill program at our Bonanza Project (UrbanBarry)."
About Goldseek Resources Inc.
Goldseek Resources Inc. is a Canadian exploration company with aportfolio of assets in Ontario and Quebec, Canada. By identifying fourprojects in world-class mining locations, Goldseek is poised todeliver shareholder value through rigorous exploration and developmenton these properties. Our mission is to find the next major discoveryin the mining camps of Urban Barry, Quevillon and Detour Gold Trend inQuebec and Hemlo in Ontario.
ON BEHALF OF THE BOARD
Jonathon Deluce
Chief Executive Officer
Telephone: 226-271-5170
For more information, pleasecontact:
Goldseek Resources Inc.
E-mail: goldseekresources@gmail.com
The reader is invited to visit Goldseek's web site https://www.goldseekresources.com/
Neither the Canadian SecuritiesExchange nor its Regulation Services Provider accepts responsibilityfor the adequacy or accuracy of this release.
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