(TheNewswire)
Vancouver, Canada - TheNewswire - December 8, 2023 - Sitka Gold Corp. (“Sitka” or the “Company”)(CSE:SIG) (FSE:1RF) (OTC:SITKF) is pleased to announce anon-brokered private placement (the “ Offering ”) of charity flow-through units (“ Charity FT Units ”) at a price of $0.20 perCharity FT Unit, for aggregate gross proceeds of up to $2,000,000.
Each Charity FT Unit will be issued as part of a charity arrangementand will consist of one “flow-through” common share in capital ofthe Company and one-half of one common share purchase warrant (eachwhole warrant, a “ Warrant ”). Each Warrant will entitle the holder thereof topurchase one non-flow-through Common Share (a " Warrant Share ") at a price of$0.37 per Warrant Share for a period of 24 months from the date ofissuance.
The securities offered pursuant to Offering will besubject to a statutory hold period of four months and a day from thedate of issuance. The Company may pay a finder’s fee comprised ofcash and/or warrants on a portion of the gross proceeds of theOffering as may be agreed between the Company and eligible finders.The Offering remains subject to regulatory approval and the approvalof the Canadian Securities Exchange (“ CSE ”).
The Company intends to use the net proceeds of theOffering on its exploration and related programs on the Company’sYukon gold properties, which expenditures will qualify as “CanadianExploration Expenses” as such term is defined in paragraph (f) ofthe definition of “Canadian exploration expense” in subsection66.1(6) of the Income TaxAct (Canada) (the “ TaxAct ”) and “flow through miningexpenditures” as defined in subsection 127(9) of the Tax Act, whichwill be incurred on or before December 31, 2024 and renounced with aneffective date no later than December 31, 2023, to the purchasers ofCharity FT Units.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral explorationcompany headquartered in Canada. The Company is managed by a team ofexperienced industry professionals and is focused on exploring foreconomically viable mineral deposits with its primary emphasis ongold, silver and copper mineral properties of merit. Sitka currentlyhas an option to acquire a 100% interest in the RC, Barney Ridge,Clear Creek and OGI properties in the Yukon and the Burro Creek Goldproperty in Arizona. Sitka owns a 100% interest in its Alpha Goldproperty in Nevada, its Mahtin Gold property in the Yukon and itsCoppermine River project in Nunavut.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
“ DonaldPenner ”
President and Director
For more information contact:
Donald Penner
President & Director
778-212-1950
dpenner@sitkagoldcorp.com
or
Cor Coe
CEO & Director
604-817-4753
ccoe@sitkagoldcorp.com
Cautionary and Forward-LookingStatements
This release includes certainstatements and information that may constitute forward-lookinginformation within the meaning of applicable Canadian securities laws.Forward-looking statements relate to future events or futureperformance and reflect the expectations or beliefs of management ofthe Company regarding future events. Generally, forward-lookingstatements and information can be identified by the use offorward-looking terminology such as “intends” or“anticipates”, or variations of such words and phrases or statements that certainactions, events or results “may”, “could”, “should”,“would” or “occur”. This information and these statements,referred to herein as "forward ? looking statements", are not historical facts, are made as ofthe date of this news release and include without limitation,statements regarding: the terms of the Offering and the anticipateduse of proceeds of the Offering. Accordingly, readers should not placeundue reliance on the forward-looking statements and informationcontained in this news release. Readers are cautioned that theforegoing list of factors is not exhaustive.
In making the forward-lookingstatements in this news release, the Company has applied certainmaterial assumptions, including without limitation, that: the Companywill complete the Offering, the Company will receive requiredapprovals for the Offering and the Company will use the proceeds ofthe Offering as currently anticipated.
These forward ? looking statements involve numerous risks and uncertainties andactual results might differ materially from results suggested in anyforward-looking statements. These risks and uncertainties include,among other things, that: the Company will not receive the requiredregulatory approvals or approval from the CSE in connection with theOffering and that the Company will not use the proceeds of theOffering as currently anticipated.
Although management of the Companyhas attempted to identify important factors that could cause actualresults to differ materially from those contained in forward-lookingstatements or forward-looking information, there may be other factorsthat cause results not to be as anticipated, estimated or intended.There can be no assurance that such statements will prove to beaccurate, as actual results and future events could differ materiallyfrom those anticipated in such statements. Accordingly, readers shouldnot place undue reliance on forward-looking statements andforward-looking information. Readers are cautioned that reliance onsuch information may not be appropriate for other purposes. TheCompany does not undertake to update any forward-looking statement,forward-looking information or financial out-look that areincorporated by reference herein, except in accordance with applicablesecurities laws. We seek safe harbor.
Copyright (c) 2023 TheNewswire - All rights reserved.