Leocor Gold Inc. Announces Closing of Private Placement
Leocor Gold Inc. (CSE: LECR) (OTC: LECRF) ("Leocor" or the "Company") has completed its previously announced private placement (the "Offering") for gross proceeds of $1,000,000. In connection with completion of the Offering, the Company has issued 20,000,000 units (each, a "Unit") at a price of $0.05 per Unit. Each Unit consists of one common share of the Company and one-half of one transferable common share purchase warrant (each whole warrant, a "Warrant"), with each Warrant entitling the holder thereof to purchase one additional share at a price of $0.10 share until November 8, 2027. In connection with completion of the Offering, the Company paid finders' fees of $21,175 and issued 423,500 Warrants to certain eligible third-parties who assisted in introducing subscribers. All securities issued in connection with the Offering are subject to a statutory period until March 9, 2025 in accordance with applicable Canadian securities laws.
The Company expects to use the proceeds from the Offering to advance exploration and development of its gold and copper projects in Newfoundland and for general working capital purposes.
About Leocor Gold Inc.
Leocor is a British Columbia-based resource company involved in the acquisition and exploration of precious metal projects, with a current focus in Atlantic Canada. Leocor, through outright ownership and earn-in agreements, currently controls several gold-copper projects in prime exploration ground located within the prolific Baie Verte Mining District. Leocor's Bae Verte portfolio includes the Dorset, Dorset Extension, Copper Creek and Five Mile Brook projects, creating a contiguous nearly 2,000-hectare exploration corridor. The Company also controls district scale land packages in North Central Newfoundland, known as Robert's Arm, Hodge's Hill, and Leamington, (collectively "Western Exploits") representing over 144,000 hectares (1,440 square kilometers) of prospective exploration ground. Find out more at: https://leocorgold.com/.
Contact Information
Leocor Gold Inc.
Alex Klenman, Chief Executive Officer
Email: aklenman@leocorgold.com
Telephone: (604) 970-4330
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the intended exploration and development of mineral resource projects in Newfoundland as well the intended use of proceeds from the Offering. Although Leocor believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. Leocor cautions investors that any forward-looking information provided by Leocor is not a guarantee of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the results of preliminary exploration work; the state of the financial markets for Leocor's securities; the state of the natural resources sector; recent market volatility; Leocor's ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that Leocor is unaware of at this time.
The forward-looking statements contained in this press release are made as of the date of this press release. Leocor disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by law.