GSKKF - Goldseek Resources Closes $907750 Private Placement
(TheNewswire)
November 13, 2020 - TheNewswire - London, Ontario - Goldseek Resources Inc. ( CSE:GSK) (CNSX:GSK.CN) ("Goldseek" or the " Company ")announces that it has closed $907,750 in flow-through funds (the"Flow-Through Placement") by way of a non-brokered privateplacement.
The Company has issued 2,453,378 Quebec flow-throughunits (each a "Quebec FT Unit") at the price of $0.37 forgross proceeds of $907,750. Each Quebec FT Unit is comprised of onecommon share, which is a "flow-through" share for Canadianincome tax purposes, and one-half of one warrant (each whole, being a"Warrant") exercisable at $0.60 per share until two yearsafter closing. The Warrants are subject toaccelerated expiry as described in the Company's November 6, 2020 newsrelease.
In connection with the completion of the privateplacement, the Company paid a finder's fee consisting of $62,965 andthe issuance of 160,809 warrants exercisable at $0.47 per share untilthree years after closing
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 5 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 fiveprojects 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, Val D'Or and DetourGold Trend in Quebec 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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