Mojave Announces Modified Funding
VANCOUVER, British Columbia, March 08, 2021 (GLOBE NEWSWIRE) – Mojave Gold Corp. (“Mojave” or the “Company”) (TSXV: MOJ) is pleased to announce its intention to undertake a non-brokered private placement of up to 6,000,000 units of the Company (the “Units” ) at a price of $ 0.50 per unit (the “Offer”) for a total of C $ 3.0 million.
Each unit is composed of one common share of the Company (a “common share”) and one warrant (each entire warrant, a “warrant”). Each warrant may be exercised to acquire one common share (a “warrant share”) at a price of $ 0.88 per warrant share for a period of 36 months from the closing date of the financing. .
Finder’s fees may be payable to qualified persons consisting of shares, warrants or cash or any combination thereof.
The offering will be made in accordance with available prospectus exemptions, including sales to qualified investors, family members, close friends and business associates of the directors and officers of the Company, to purchasers who have obtained advice on the suitability of a registered investment dealer in accordance with the exemption provided in BC Instrument 45-536 (Exemption from the prospectus requirement for certain distributions through an investment dealer) (the “Exemption for Securities Dealers ”) and to existing shareholders of the Company in accordance with the exemption provided in the British Columbia Securities Commission BC Instrument 45-534 (Prospectus Exemption for Certain Transactions with Existing Securityholders) ( the “Existing Shareholder Exemption”).
For subscribers using the Existing Shareholder Exemption, the offer is available to all shareholders of the Company at March 8, 2021, (the “Registration Date”) (and are still shareholders) who are eligible to participate under the exemption for existing shareholders. Anyone who becomes a shareholder of the Company after the registration date is not entitled to participate in the offers using the exemption for existing shareholders, but other exemptions may still be available. Shareholders who become shareholders after the registration date should consult their professional advisers when completing their subscription form to ensure that they are using the correct exemption.
There are conditions and restrictions when relying on the exemption for existing shareholders, namely, the subscriber must: for their own account and not for another party, and c) cannot purchase more than 15 $ 000 of securities of the Company over a twelve month period, unless they have first received “suitability advice” from a registered investment dealer and, in such In this case, subscribers will need to confirm the identity and employer of the registered investment dealer.
The proposed net proceeds received from the Offer after payment of commissions are intended to be used by the Company to pay expenses related to the Company’s properties under an option agreement in Mexico, settle debts and for the fund. bearing for the following purposes:
Although the Company intends to spend the net proceeds of the Offering as set out above, there may be circumstances where, for sound business reasons, funds may be reallocated at the discretion of the Board.
Subscribers in all Canadian jurisdictions may use the Existing Shareholder Exemption. Existing shareholders residing in countries other than Canada will need to meet local jurisdictional requirements to participate.
Subscribers who implement the Dealer Investor Exemption must reside in one of the following jurisdictions: Alberta, British Columbia, Manitoba, New Brunswick and Saskatchewan. Subscribers residing in countries other than Canada will need to meet local jurisdiction requirements to participate.
The Company announces that it will not proceed with the private placement as previously announced on February 24, 2021.
On behalf of the board of directors
“Cole McClay”, CEO of Mojave Gold Corp.
Some of the statements made and information contained in this document may contain forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, without limitation, information regarding the Company’s intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is released, and is based on a number of assumptions and is subject to various risks and uncertainties. and other factors that may cause actual events. or the results differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events beyond the control of the Company and there can be no assurance that they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change, except as required by applicable securities laws, or to comment on any analyzes, expectations or statements made. by third parties with regard to the Company, its operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information. We seek refuge.