(TheNewswire)
Vancouver, Canada – TheNewswire - March 16, 2021 – Guyana Goldstrike Inc.(the “Company” or “Guyana Goldstrike”) (TSXV:GYA ) ( OTC:GYNAF ) ( FSE:1ZT ) is pleased toannounce the closing of the second tranche ofthe non-brokered private placement (the " Placement ") ofunits of the Company (" Units ") resulting in the issuance of anadditional 10,642,500 Units at a price of $0.10 per Unit for grossproceeds of CDN$1,064,250.
In aggregate with the closing of the first tranche ofthe Placement, announced February 17, 2021, the Company has issued23,662,500 Units, for gross proceeds of $2,366,250.
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 second tranche,arms-length agents received an aggregate cash fee of $10,400. Inaddition, the Company issued to agents 69,333 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.
The Company has received a thirty-day extension tofacilitate a third and final tranche. The final tranche will close onor before April 15, 2021. Proceeds from the Placement will be used topay liabilities, accounts payable, and for general working capital. The securities issued pursuant to the Placement will be subject to astatutory hold period until July 17, 2021. The closing of thePlacement remains subject to the final approval of the TSX VentureExchange.
For further information, interested parties areencouraged to visit the Company’s website www.guyanagoldstrike.com and theCompany’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,changes in exploration costs and government regulation in Guyana,status of artisanal mining activities and associated rights, and otherfactors or information. Such statements represent the Company’scurrent views with respect to future events and are necessarily basedupon a number of assumptions and estimates that, while consideredreasonable by the Company, are inherently subject to significantbusiness, economic, competitive, political and social risks,contingencies and uncertainties. Many factors, both known andunknown, could cause results, performance or achievements to bematerially different from the results, performance or achievements that are or may be expressed orimplied by such forward-looking statements. The Company does notintend, and does not assume any obligation, to update theseforward-looking statements or information to reflect changes inassumptions or changes in circumstances or any other events affectionssuch statements and information other than as required by applicablelaws, rules and regulations.
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