(TheNewswire)
Vancouver, British Columbia – TheNewswire - November 10, 2022 - Leopard Lake Gold Corp. (the "Company" or "Leopard Lake")(CSE:LP) announces that, further to its news release dated October 27,2022, the Company has closed the second and final tranche of itsnon?brokered private placement (the "Offering") throughthe issuance of 356 units (each, a "Unit") at asubscription price of $805 per Unit for gross proceeds of $286,580. The Company has now issued an aggregate of 728Units for aggregate gross proceeds of $586,040 under theOffering.
Each Unit consists of 4,500 "flow-through"common shares (each, an "FT Share"), 1,000"non-flow-through" common shares (each, a "Non-FTShare"), and 1,000 common share purchase warrants (each, a"Warrant"), with each Warrant entitling the holder thereofto purchase one "non-flow-through" common share in thecapital of the Company (each, a "Warrant Share") at anexercise price of $0.25 per Warrant Share for a period of 24 monthsfrom the date of issuance.
The proceeds raised from the issuance of the Units are intended to be used for exploration work onthe Company's projects and for general working capital . No finders fees were paid in connection with the closingof the Offering and all securities issued in connection with theOffering will be subject to a four-month and one day hold period inCanada.
Early Warning Disclosure
Daniel Bélanger (the " Acquiror ") makesthe following announcement in accordance with National Instrument62-103 The Early WarningSystem and Related Take-Over Bid and Insider Reporting Issues and National Instrument 62-104 Take-Over Bids and Issuer Bids .
Pursuant to the closing of the second tranche of theOffering, the Company issued to the Acquiror , and the Acquiror purchasedfrom the Company, 249 Units at a price of $805 per Unit for a purchaseprice of $200,445 (the " Acquisition "). Each Unit consists of4,500 FT Shares, 1,000 Non-FT Shares and 1,000 Warrants.
Immediately prior to the Acquisition, the Acquirorbeneficially owned and had control and direction over 2,046,000 Sharesand 372,000 Warrants representing approximately 8.25% (9.60% on apartially diluted basis) of the then issued and outstanding Shares. As a result of the Acquisition, the Acquiror beneficially owns andhas control and direction over 3,415,500 Shares and 621,000 Warrants,representing approximately 12.76% (14.74% on a partially dilutedbasis) of the currently issued and outstanding Shares. Thechange in theAcquiror's securityholding percentage is 4.51% (5.14% on a partiallydiluted basis) of the issued and outstanding Shares.
The Acquiror acquired the Units for investmentpurposes. However, the Acquiror will review his holdings from timeto time and may, in the future, increase or decrease his ownership orcontrol over securities of the Company as circumstancesdictate.
An early warning report will be filed under theCompany's profile on the SEDAR website at www.sedar.com . A copy of the earlywarning report can also be obtained from the Acquiror at the addressbelow:
Daniel Bélanger
400 Avenue Turcotte
East-Broughton, QC
G0N 1G0
Telephone: (418) 933-3443
About Leopard Lake Gold Corp.
Leopard Lake is engaged in the business of mineralexploration and the acquisition of mineral property assets in Canada,including the St-Robert Property, which is comprised of 4 miningclaims in Beauceville and 102 mining claims in the Riseborough andMarlow Townships in St. Robert Bellarmin, Quebec, and the Stellaproperty located in the Abitibi region of Northwestern Quebec, made upof 52 contiguous mining claims for a total of 2,987 hectares,approximately 65 kilometres east of the town of Val d-Or. Itsobjective is to locate and develop economic precious and base metalproperties of merit and to conduct its exploration program on theLeduc Gold Project. The Leduc Gold Project consists of 9 unpatentedmining claims (114 cells) which covers an area of approximately 2,290hectares near Jellicoe, Ontario, Canada, within the Thunder Bay MiningDivision.
On Behalf of Leopard Lake GoldCorp.
Robert Coltura
Chief Executive Officer andPresident
For further information, pleasecontact:
Robert Coltura
Chief Executive Officer and President
9285 203B Street
Langley, British Columbia
V1M 2L9
Telephone : (604) 290-6152
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, including, without limitation, the use of proceeds from the Offering, futureacquisitions or dispositions of the Company's securities by theAcquiror, the anticipated business plans andtiming of future activities of the Company, are forward-lookingstatements. Although the Company believes that such statements arereasonable, it can give no assurance that such expectations will proveto be correct. Forward-looking statements are typically identifiedby words 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 theanticipated business plans and timing of future activities of theCompany, the ability of the Company to obtain sufficient financing tofund its business activities and plans, delays in obtaininggovernmental and regulatory approvals (including of the CanadianSecurities Exchange), permits or financing, changes in laws,regulations and policies affecting mining operations, currencyfluctuations, title disputes or claims, environmental issues andliabilities, 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.sedar.com and readers areurged 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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