(TheNewswire)
Vancouver, Canada – TheNewswire - April 15, 2021 – Guyana Goldstrike Inc. (the“Company” or “Guyana Goldstrike”) (TSXV:GYA ) ( OTC:GYNAF ) ( FSE:1ZT ) is pleased toannounce the closing of the third and final tranche of the non-brokered private placement (the" Placement ") of units of the Company (" Units ")resulting in the issuance of an additional 3,450,000 Units at a priceof $0.10 per Unit for gross proceeds of CDN$345,000.
In aggregate with the closing of the first and secondtranche of the Placement, announced February 17 th and March16 th , 2021 respectively, the Company has now issued 27,112,500Units, for gross proceeds of $2,711,250.
Each Unit consists of one common share of the Company(a " CommonShare ") and one Common Share purchasewarrant (a " Warrant "), with each Warrant entitlingthe holder to purchase an additional Common Share at a price of $0.15per share for a period of thirty-six months following the closing ofthe Placement.
In connection with the closing of the final tranche,arms-length agents received an aggregate cash fee of $2,400. Inaddition, the Company issued to agents 24,000 broker warrants (the“ Broker Warrants ”). Each Broker Warrant will entitle the holder thereof topurchase one Common Share at an exercise price equal to $0.15 for aperiod of thirty-six months following the closing of thePlacement.
In aggregate with the closing of the first and secondtranche of the Placement, arms-length agents received a cash fee of$12,800. In addition, the Company issued to agents 128,000 BrokerWarrants.
Proceeds from the Placement will be used to payliabilities, accounts payable, and for general working capital. Thesecurities issued pursuant to the final tranche of Placement aresubject to a statutory hold period until August 16, 2021.
In aggregate with the closing of the first and secondtranche of the Placement, certain insiders of the Company acquired1,365,070 Units. This participation by insiders in the Placementconstitute a "related party transaction" as defined underMultilateral Instrument 61-101 Protection of Minority Security Holders in SpecialTransactions (“ MI 61-101 ”) . However, the Company considerssuch participation would be exempt from the formal valuation andminority shareholder approval requirements of MI 61-101 as neither thefair market value of the Units subscribed for by the insiders, nor theconsideration for the Units paid by such insiders, exceeds 25% of theCompany's market capitalization.
For further information, interested parties areencouraged to visit the Company’s website www.guyanagoldstrike.com andthe Company’s profile on SEDAR ( www.sedar.com ) or contact the Companyby telephone at 1.877.844.4661 or email info@guyanagoldstrike.com .
On behalf of the Board of Directors of
GUYANA GOLDSTRIKE INC.
Peter Berdusco
President and Chief Executive Officer
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.
This news release may containcertain “Forward-Looking Statements” within the meaning of theUnited States Private Securities Litigation Reform Act of 1995 andapplicable Canadian securities laws. When used in this news release,the words “anticipate”, “believe”, “estimate”,“expect”, “target, “plan”, “forecast”, “may”,“schedule” and other similar words or expressions identifyforward-looking statements or information. These forward-lookingstatements or information may relate to future prices of commodities,accuracy of mineral or resource exploration activity, reserves orresources, regulatory or government requirements or approvals, thereliability of third party information, continued access to mineralproperties or infrastructure, fluctuations in the market for gold, and other factors or information. Such statements represent theCompany’s current views with respect to future events and arenecessarily based upon a number of assumptions and estimates that,while considered reasonable by the Company, are inherently subject tosignificant business, economic, competitive, political and socialrisks, contingencies and uncertainties. Many factors, both known andunknown, could cause results, performance or achievements to bematerially different from the results, performance or achievementsthat are or may be expressed or implied by such forward-lookingstatements. The Company does not intend, and does not assume anyobligation, to update these forward-looking statements or informationto reflect changes in assumptions or changes in circumstances or anyother events affections such statements and information other than asrequired by applicable laws, rules and regulations.
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