(TheNewswire)
TheNewswire - December 17, 2021 - DAMARA GOLD CORP. (TSXV:DMR) (“ Damara ” or the“ Company ”), announces it has completed thepreviously announced financing ( see new releases of December 8, 2021 and December 6, 2021) today wherein the Companyhas issued 1,944,444 common shares of theCompany issued on a flow-through basis (the “ FT Shares ”) at aprice of $0.09 per FT Share for gross proceeds of $174,999.96 (the“ FT Proceeds ”) .
The FT Proceeds will be used forexpenditures which qualify as Canadian Exploration Expenses(“ CEE ”) within the meaning of the Income Tax Act (Canada). TheCompany will renounce such CEE expenditures with an effective date ofno later than December 31, 2021.
All securities issued pursuant to the Offering aresubject to a statutory four month and one day hold period expiring onApril 18, 2022.
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None of the securities sold inconnection with the Offering will be registered under the UnitedStates Securities Act of 1933, as amended, and no such securities maybe offered or sold in the United States absent registration or anapplicable exemption from the registration requirements. This newsrelease shall not constitute an offer to sell or the solicitation ofan offer to buy nor shall there be any sale of the securities in anyjurisdiction in which such offer, solicitation or sale would beunlawful.
About Damara
Damara Gold Corp. is a TSX Venture listed mineralexploration company actively focused on the exploration of the PlacerMountain Gold Property, located in Princeton, BC, held by 75%/25% JVwith Universal Copper Ltd. Damara’s Board of Directors is seasonedin the mineral exploration industry with extensive and successfulinternational experience.
ON BEHALF OF THE BOARD OF DIRECTORSOF DAMARA
“Larry Nagy”
Larry Nagy, Chief Executive Officer
For additional information visit Damara’s website at www.damaragoldcorp.com or contact:
Damara Gold Corp.
Larry Nagy
Chief Executive Officer
Ph: ( 250-241-5692 )
Disclaimer for Forward-LookingInformation
This news release contains statements that constitute"forward-looking Information", as suchterm is used in applicable Canadian securities laws . Such forward-looking information involves known andunknown risks, uncertainties and other factors that may cause theCompany’s actual results, performance or achievements, ordevelopments in the industry to differ materially from the anticipatedresults, performance or achievements expressed or implied by suchforward-looking information. Forward-looking information includesstatements that are not historical facts and are generally, but notalways, identified by the words "expects,""plans," "anticipates," "believes,""intends," "estimates," "projects,""potential" and similar expressions, or that events orconditions "will," "would," "may,""could" or "should" occur.
Although the Company believes the forward-lookinginformation contained in this news release is reasonable based oninformation available on the date hereof, by its natureforward-looking information involves assumptions and known and unknownrisks, uncertainties and other factors which may cause our actualresults, level of activity, performance or achievements, or otherfuture events, to be materially different from any future results,performance or achievements expressed or implied by suchforward-looking information.
Examples of such assumptions, risks and uncertaintiesinclude, without limitation, assumptions, risks and uncertaintiesassociated with general economic conditions; the Covid-19 pandemic;adverse industry events; the receipt of required regulatory approvalsand the timing of such approvals; that the Company maintains goodrelationships with the communities in which it operates or proposes tooperate, future legislative and regulatory developments in the miningsector; the Company ’ sability to access sufficient capital from internal and externalsources, and/or inability to access sufficient capital on favorableterms; mining industry and markets in Canada and generally; the ability of the Company to implement itsbusiness strategies; competition; the risk thatany of the assumptions prove not to be valid or reliable, which couldresult in delays, or cessation in planned work, risks associated withthe interpretation of data, the geology, grade and continuity ofmineral deposits, the possibility that results will not be consistentwith the Company’s expectations, as well as other assumptions risksand uncertainties applicable to mineral exploration and developmentactivities and to the Company, including as set forth in theCompany’s public disclosure documents filed on the SEDAR website at www.sedar.com .
THE FORWARD-LOOKING INFORMATIONCONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF DAMARAAS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TOCHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ONFORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATIONAS OF ANY OTHER DATE. WHILE DAMARA MAY ELECT TO, IT DOES NOT UNDERTAKETO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIREDIN ACCORDANCE WITH APPLICABLE 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 press release
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