VANCOUVER, May 24, 2016 /CNW/ - Intact Gold Corp. (TSX-V: ITG) (FSE: 1A5) (the "Company" or "Intact Gold"), is pleased to announce that the company has closed its previously announced non-brokered Flow Through private placement (news release dated May 20, 2016).
The private placement consisted of the issuance of 1.25 million units at a price of 16 cents per unit for gross proceeds of $200,000. Each unit comprises one Flow Through common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share until May 20, 2018 at a price of 20 cents.
In connection with closing of the private placement, the Company paid certain finder's fees: $18,000 cash.
The securities issued under the private placement are subject to a hold period expiring on September 20th, 2016.
Proceeds of the placement will be applied to the Company's properties.
ON BEHALF OF THE BOARD OF DIRECTORS OF INTACT GOLD CORP.
Per: Anthony Jackson, President and CEO
Disclaimer for Forward-Looking Information
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" occur. Forward-looking information in this press release includes, but is not limited to, statements regarding expectations of management regarding the acquisition of the Property. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, the risks that the Company may not have the funds necessary to make its payments pursuant to the Agreement, that the TSX-V may not approve the transaction, and other factors beyond the control of the Company. Except as required by law, the Company expressly disclaims any obligation, and does not intend, to update any forward-looking information in this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Intact Gold Corp
For further information: please contact the Company at 604-283-1722.