GT Gold Announces $6.5 Million Private Placement Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Feb. 26, 2018 (GLOBE NEWSWIRE) -- GT Gold Corp. ("GT Gold" or the "Company") (TSX-V:GTT). GT Gold is undertaking a non-brokered private placement to raise targeted gross proceeds of $6,500,000 (the “Offering”). The Offering will involve the sale of 7,738,095 common shares of the Company to be sold on a flow-through basis at a price of $0.84 per share. The net proceeds from the Offering will be used for exploration of the Company’s Saddle gold-silver discovery in B.C.’s Golden Triangle and will be additional to the Company’s current capital resources which exceed $3,200,000.
The Company may pay finder's fees in accordance with the rules and policies of the TSX Venture Exchange. The Offering remains subject to the approval of the TSX Venture Exchange. All shares issued in the Offering will be subject to a four-month resale hold period in Canada from the date of closing of the Offering.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward Looking Statements
This press release contains "forward-looking information" within the meaning of applicable securities laws. When used in this news release, words such as "will", "believes", "anticipates" and similar expressions, constitute forward-looking statements, and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators. Readers are cautioned not to place undue reliance on forward-looking information. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. Actual results and developments may differ materially from those contemplated by these statements. The Corporation undertakes no obligation to update forward-looking information, except as required by securities law.
For more information please contact:
GT Gold Corp.
Kevin M. Keough
President and Chief Executive Officer
Tel: (613) 832-4592
Website: www.gtgoldcorp.ca