StrikePoint Gold Inc. Comments on Recent Market Activity
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 28, 2017) - StrikePoint Gold Inc. (the "Company" or "StrikePoint") (TSX VENTURE:SKP)(OTCQB:STKXF), wishes to make the following statements regarding certain market activity surrounding the Company's common shares.
On August 24, 2017, the Company was notified by the OTC Markets about certain promotional activities in relation to the Company's common shares, including certain promotional newsletter emails. The Company engaged TSX Ventures LLC on August 11, 2017 to provide promotional services. The Company is unaware of the full nature of the promotional activity or the responsible parties.
The common shares of the Company listed on the OTCQB on May 31, 2017. Since listing on the OTCQB trading volumes have been minimal and sporadic, as the Company's primary listing is in Canada on the TSX Venture Exchange. On August 21, 2017 and following the August 22, 2017 news release, trading volumes on the OTCQB increased, and the Company attributes the majority of any increased trading volumes on the OTCQB to the contents of its August 22, 2017 news release and the continued positive advancement of the Company's business.
After inquiry, the Company confirms that its officers, directors or its controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities) have not, directly or indirectly, authorized or been involved in any way with the creation or distribution of promotional materials.
Neither the Company's officers, directors and, to the knowledge of the Company, any controlling shareholders, sold or purchased shares of common shares of the Company within the last 90 days.
Other than the engagement of TSX Ventures LLC, the Company has not engaged any third parties to provide investor relations and other related services since January 1, 2016.
The Company has recently issued the following shares at prices constituting a discount to the current market rate at the time of the issuance as follows: (1) On March 23, 2017, the Company issued 6,779,664 flow-through shares at CDN $0.295 per share for gross proceeds of CDN $2,000,001 with a finder's fee of CDN $140,000 and 474,576 finder's warrants (exercisable at $0.295 per share, for a period of two years ) paid in conjunction with this private placement; (2) In April 2017, the Company issued 3,524,490 units at CDN $0.295 per unit (each unit consists of one common share and one share purchase warrant and each warrant entitles the holder to acquire one common share of the Company at a price of CDN $0.50 per share for a two-year period) for gross proceeds totaling CDN $1,039,725 with finders' fees totaling CDN $65,873 and 223,334 finders' warrants paid in conjunction with this private placement; and (3) In May 2017, the Company issued 13,157,000 flow-through units at CDN $0.38 per unit (each flow-through unit consists of one flow-through common share and one-half nonflow- through share purchase warrant, with each whole warrant being exercisable at a price of CDN $0.50 per share for a two year period) for gross proceeds totaling CDN $4,999,660 with finders' fees totaling CDN $280,763 and 738,850 finders' warrants paid in conjunction with this private placement.
The statements regarding the Company that were made in the promotional materials were not materially false and/or misleading.
About StrikePoint Gold
StrikePoint is a Gold Exploration Company that has purchased a portfolio of 22 properties located in the Yukon. The properties were previously held by Ryan Gold Corp., who spent over $25 million on exploration between 2010 and 2014. The acquisition comes with an extensive database of soil and rock samples, geophysics, geological mapping and drilling results. Several properties are 'drill ready' targets, while the others are in advanced stages of exploration. Subsequently, StrikePoint has raised $8M with strategic institutional investors to advance the Yukon properties.