(TheNewswire)
April 29. 2024 – TheNewswire - Montreal, Quebec, Canada - Beauce Gold Fields (ChampsD’Or en Beauce) (TSX V :BGF), also known as "BGF"or the "Company," is pleased to announce that it is offeringa non-brokered private placement to existingshareholders as well as to Accredited investors.
Patrick Levasseur, President and CEO of Beauce GoldFields, states, "This offering is an opportunity for allshareholders to participate in the recent discovery of mineralizedantiform structures identified as the source of the historic placergold deposits which show great promise for further lode golddiscoveries."
Image: Gold Transportation Flow from Anti FormStructures to Placer Channel
Private Placement Offer for ExistingShareholders and Accredited Investors
BGF is offering a non-broker private placement of aminimum of 2,000,000 units and a maximum of 10,000,000 units of thecompany at $0.04 per unit for a minimum gross proceed of $80,000 anda maximum gross proceed of $400,000, subject to the receipt of allapplicable regulatory approvals. Each unit is comprised of one (1)common share and one (1) common share purchase warrant of the Company.Each warrant will allow to the holder thereof to purchase one commonshare of the company's share capital at an exercise price of $0.08 fora period of 24 months following the closing date of the placement.Each share issued under the placement will have a mandatory holdingperiod of four (4) months and one (1) day from the closing date of theplacement.
The offer is open to the following groups of investorsin accordance with applicable laws:
• Existing shareholders distribution Regulation 45-513
• Accredited investors Regulation 45-106
Investors interested in participating in the privateplacement should contact Patrick Levasseur, President and CEO ofBeauce Gold Fields, at 514-262-9239 or via email at patrick.levasseur@beaucegold.com .
Additional Information for Existing Shareholders
The placement will be open for participation byexisting shareholders of Beauce Gold Fields as of the record-closingdate of April 26, 2024, who wish to participate in the placement basedon the existing shareholder exemption offered under Canadiansecurities laws. The total acquisition cost for an existingshareholder under the existing shareholder exemption cannot exceed$15,000 during the 12 months preceding the placement's closing date,unless that existing shareholder has received advice from a registeredinvestment dealer within the shareholder's jurisdiction. The minimumsubscription amount for existing shareholders taking advantage of theexisting shareholder exemption is $8,000.
If subscriptions received from existing shareholdersexceed the proposed maximum of 10,000,000 units, the shares sosubscribed will be distributed on a pro-rata basis among allsubscribing shareholders benefiting from the existing shareholderexemption, proportional to the number of shares each subscriber hasapplied for in the offer. If the subscriptions received from existingshareholders are less than the maximum of 10,000,000 available units,the balance will be offered to Accredited Investors.
The Company will use the minimum proceeds as well asthe maximum proceeds from the private placement for general working capital and for exploration of its goldand phosphate properties . The placement may beclosed no later than May 27, 2024 in one or more tranches upon receiptof subscriptions.
No more than 10% of the proceeds of the placement canbe used for Investor Relations Activities. None amount of the proceedsof the placement is for payments to Non-Arm’s length parties of thecompany nor for payments to persons conducting Investor RelationsActivities.
This announcement should not be distributed to UnitedStates news wire services nor disseminated in the United States. Thispress release does not constitute an offer to sell or the solicitationof an offer to buy, and there shall not be any sale of thesesecurities in any United States where such offer, solicitation or salewould be illegal.
About the Grondin Gold Zone
The Grondin Zone is located in thenorthwest corner of the Beauce Gold property located in Beaucevilleand in Saint-Simon-les-Mines, Quebec. The 2023 explorationinitiatives at the Grondin Zone,comprising both bulk processing and drilling, (BGF press releases, November1 2023 and January18 2024) revealed thatthe Grondin zoneextends over 40 meters deep vertically and remains open at depth, witha mineralized structure stretching more than 300 meters in length.This zone is intrinsically linked to an antiform fold axis that spans several kilometers, suggesting thatother gold showings may be present along the antiform fold and elsewhere on the Beauce Gold property indicatinga significant potential for lode gold discoveries from this goldstructure.
A positive correlation applies to silver and thepathfinder elements that were identified in the Grondin mineralizedantiform structure with those found in the basal till and thesaprolite of the placer gold channel of the Gilbert River valley.(press release January 18, 2024) Thiscorrelation is corroborating evidence that these antiform systemscould have contributed to the development of the extensive auriferousplacers in Beauce.
It also supports the hypothesis that placer gold withinthe Beauce Gold paleochannel, including the renowned large nuggetsfrom the 19th century, formed in stressed quartz pockets withinlayered domed Axis of Antiforms, exemplified by Saddle Reefformations. Notable global Saddle Reef formations includethe Bendigo gold fields in Australia (over 60 million ounces) and thehigh-grade Dufferin deposit in Nova Scotia.
About Beauce Gold Fields
Beauce Gold Fields is focused on exploring anddeveloping the largest placer gold district in eastern North America.The Company’s objective is the trace old placer gold workings backto a bedrock source to uncover economic lode gold deposits. TheCompany’s flagship property is the St-Simon-les-Mines Gold projectsite of Canada’s first gold rush that pre-dates the YukonKlondike. The Beauce region hosted some of the largest historicalplacer gold mines in Eastern North America that were active from 1860sto the 1960s It produced some of the largest gold nuggets in Canadianmining history (50oz to 71oz). (Source Sedar: 43-101 Report - BeauceJuly 4 th 2018, , Author B. Violette)
Beauce Gold Fields website www.beaucegold.com
Disclaimers:
This press release contains certainforward-looking statements, including, without limitation, statementscontaining the words "may", "plan","will", "estimate", "continue","anticipate", "intend", "expect","in the process" and other similar expressions whichconstitute "forward-looking information" within the meaningof applicable securities laws. Forward-looking statements reflect theCompany's current expectation and assumptions, and are subject to anumber of risks and uncertainties that could cause actual results todiffer materially from those anticipated. These forward-lookingstatements involve risks and uncertainties including, but not limitedto, our expectations regarding mineral exploration. Such statementsreflect the current views of the Company with respect to future eventsand are subject to certain risks and uncertainties and other risksdetailed from time-to-time in the Company's on-going filings with thesecurities regulatory authorities, which filings can be found atwww.sedar.com. Actual results, events, and performance may differmaterially. Readers are cautioned not to place undue reliance on theseforward-looking statements. The Company undertakes no obligation topublicly update or revise any forward-looking statements either as aresult of new information, future events or otherwise, except asrequired by applicable securities laws.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
For further informationcontact
Patrick Levasseur, President and CEO Tel: (514)262-9239
www.beaucegold.com
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