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March 5, 2024 – TheNewswire - Vancouver, British Columbia: Gold BasinResources Corporation (the "Company" or "GoldBasin") – (TSX-V GXX, OTCQB: GXXFF) today announced thatit has closed the second and final tranche of its previously announcednon-brokered private placement (the " Financing ") through theissuance of 5,500,000 units (each, a " Unit ") at a subscription priceof $0.10 CAD per Unit for gross proceeds of approximately $550,000 CAD. The Financing isoversubscribed, and the Company has issued an aggregate of 15,220,303Units for aggregate gross proceeds of $1,522,030.30 CAD.
Charles Straw, President of Gold Basin commented: “The oversubscribedfinancing, which was strongly supported by Australian investors, setsthe stage for catalyst rich Q2. The Company is looking forward to avery productive 2024 with the focus of rapidly advancing the GoldBasin oxide gold asset.”
Each Unit consists of one common share in the capitalof the Company (each, a "Share") and one-half of onetransferable common share purchase warrant (each whole warrant, a"Warrant"), with each Warrant entitling the holder thereofto purchase one Share at an exercise price of $0.15 per Share for aperiod of one year from the closing of the Financing. In connectionwith the closing of the second tranche of the Financing, the Companypaid cash finder's fees and issued non-transferable finder's warrantsto Leede Jones Gable Inc. (as to $3,000 cash and 30,000 finder'swarrants) in connection with the introduction to the Company ofeligible investors in the Financing. The finder's warrants entitlethe holder thereof to purchase one Share at an exercise price of $0.15per Share for a period of one year from the closing of theFinancing.
The proceeds of the Financing are intended to fundongoing exploration at the Company's mineral projects, payment ofaccrued expenses and for general working capital. All securitiesissued in connection with the Financing will be subject to a holdperiod of four-months and one day in Canada, and the closing of theFinancing is subject to final acceptance by the TSX VentureExchange.
ABOUT GOLD BASIN RESOURCES CORPORATION
Gold Basin Resources Corporation isadvancing the 42 km 2 GoldBasin Project, located in the tier one mining jurisdiction of MohaveCounty, Arizona. Gold Basin is accessible year-round via a1.5-hour-drive on I-93 Highway southwest of Las Vegas, and high-powerelectrical lines from the Hoover Dam crosscut the southern Projectarea. The immediate focus of Gold Basin's highly experiencedtechnical team is to expand and delineate multiple at-surface oxidegold deposits and prove the project's district-scale potential. Forfurther information, please visit the Company's web site at: www.goldbasincorp.com .
On Behalf of the Board of Directors
Colin Smith
Chief Executive Officer
For further information, pleasecontact:
Michael Rapsch
VP, Corporate Development
Phone: 1-604-331-5093
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this news release.
FORWARD-LOOKING STATEMENTS:
This news release contains forward-looking statementsand forward-looking information (collectively, "forward lookingstatements") within the meaning of applicable Canadian and U.S.securities legislation. All statements, other than statements ofhistorical fact, included herein are forward-looking statements. Although the Company believes that such statements are reasonable,it can give no assurance that such expectations will prove to becorrect. Forward-looking statements are typically identified bywords such as: "believes", "expects","anticipates", "intends", "estimates","plans", "may", "should","would", "will", "potential","scheduled" or variations of such words and phrases andsimilar expressions, which, by their nature, refer to future events orresults that may, could, would, might or will occur or be taken orachieved. Forward-looking statements involve known and unknownrisks, uncertainties and other factors which may cause the actualresults, performance or achievements of the Company to differmaterially from any future results, performance or achievementsexpressed or implied by the forward looking information. Such risksand other factors include, among others, statements as to the use ofproceeds from the Financing, anticipated business plans, direction andtiming of future activities of the Company, the ability of the Companyto obtain sufficient financing to fund its business activities andplans, delays in obtaining governmental and regulatory approvals(including of the TSX Venture Exchange), permits or financing, changesin laws, regulations and policies affecting mining operations,currency fluctuations, title disputes or claims, environmental issuesand liabilities, risks relating to epidemics or pandemics such asCOVID–19, including the impact of COVID–19 on the Company'sbusiness, financial condition and results of operations, changes inlaws, regulations and policies affecting mining operations, titledisputes, the inability of the Company to obtain any necessarypermits, consents, approvals or authorizations, the timing andpossible outcome of any pending litigation, environmental issues andliabilities, and risks related to joint venture operations, and otherrisks and uncertainties disclosed in the Company's continuousdisclosure documents. All of the Company's Canadian publicdisclosure filings may be accessed via www.sedarplus.ca and readersare urged to review these materials.
Readers are cautioned not to place undue reliance onforward-looking statements. The Company does not undertake anyobligation to update any of the forward-looking statements in thisnews release or incorporated by reference herein, except as otherwiserequired by law.
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