(TheNewswire)
Vancouver, British Columbia / TheNewswire / April 22, 2021 – Gold LionResources Inc. (“ Gold Lion ” or the“ Company ”) ( CSE:GL)(OTC:GLIOF) (FWB:2BC ) is pleased to announce it has closed a non-brokered private placement of 20,710,000warrants (“ Warrants ”) at a price of CAD $0.025 perWarrant for gross aggregate proceeds of $517,750 (the “ Private Placement ”).
Each Warrant entitles the holder to acquire one unit ofthe Company (each, a “ Unit ”). Each Unit consists of one commonshare in the capital of the Company (each, a “ Share ”) and onetransferable common share purchase warrant (each, a “ Conversion Warrant ”). Each Warrant will entitle the holder thereof to acquireone Unit at a price of $0.025 per Unit for a period of two years fromclosing. Each Conversion Warrant will entitle the holder thereof toacquire one additional Share at a price of $0.05 per Share until 5:00p.m. (Vancouver time) on the date of expiration of the ConversionWarrant, which is two years following the closing date. All securitiesissued in connection with the Private Placement are subject to astatutory hold period of four months and one day which will expireAugust 23, 2022.
No finder’s fees have been paid in connection withthe Private Placement. The Company intends to use the net proceedsfrom the Private Placement for general working capitalpurposes.
None of the securities issued in connection with thePrivate Placement have been registered under the United States Securities Act of1933 , as amended (the “ 1933 Act ”), andnone of them have been offered or sold in the United States absentregistration or an applicable exemption from the registrationrequirements of the 1933 Act. This news release shall not constitutean offer to sell or a solicitation of an offer to buy nor shall therebe any sale of the securities in any state where such offer,solicitation, or sale would be unlawful.
About Gold Lion Resources Inc.
Gold Lion Resources Inc. is a mineral explorationcompany actively involved in the exploration of its precious metalfocused portfolio, including the Cuteye and Fairview Propertieslocated in Idaho and British Columbia, respectively. For more information please visit: https://goldlionresources.com/ .
ON BEHALF OF THE BOARDOF DIRECTORS
Borzoo Zare, interim CEO
T: +1 (604) 687-2038
The CSE and Information ServiceProvider have not reviewed and does not accept responsibility for theaccuracy or adequacy of this release.
Forward-lookingInformation Cautionary Statement
Except for statements of historicfact, this news release contains certain "forward-lookinginformation" within the meaning of applicable securities law.Forward-looking information is frequently characterized by words suchas "plan", "expect", "project","intend", "believe", "anticipate","estimate" and other similar words, or statements thatcertain events or conditions "may" or "will"occur. Forward-looking statements are based on the opinions andestimates at the date the statements are made, and are subject to avariety of risks and uncertainties and other factors that could causeactual events or results to differ materially from those anticipatedin the forward-looking statements including, but not limited to delaysor uncertainties with regulatory approvals, including that of the CSE.There are uncertainties inherent in forward-looking information,including factors beyond the Company’s control. There are noassurances that the business plans for Gold Lion Resources describedin this news release will come into effect on the terms or time framedescribed herein. The Company undertakes no obligation to updateforward-looking information if circumstances or management's estimatesor opinions should change except as required by law. The reader iscautioned not to place undue reliance on forward-looking statements.Additional information identifying risks and uncertainties that couldaffect financial results is contained in the Company’s filings withCanadian securities regulators, which are available at www.sedar.com .
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