/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES/
VANCOUVER, March 4, 2019 /CNW/ - MAS Gold Corp. ("MAS Gold" – TSX-V:MAS) announces a non-brokered private placement (the "Private Placement") comprised of Flow-Through shares and Hard Dollars units for aggregate gross proceeds of up to $1,000,000.
The Flow-Through portion of the offering is intended to raise proceeds of up to $700,000 at a price of $0.12 per Flow-Through common share.
The Hard Dollar units portion of the private placement, is intended to raise proceeds of up to $300,000 at $0.12 per Hard Dollar unit; each unit comprised of one common share and half a share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one additional MAS Gold common share at a warrant exercise price of $0.15 per common share for a period of 24 months from the date of issue.
MAS Gold will use the proceeds of the Private Placement to fund the ongoing exploration of its gold projects in Saskatchewan and to provide general working capital.
MAS Gold may pay finder's fees on a portion of the Private Placement in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the "Exchange").
The Private Placement may be completed in multiple closings, subject to the receipt of all regulatory approval including the approval of the Exchange.
The Private Placement securities have not been, and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.
MAS GOLD CORP. ISSUES STOCK OPTIONS
MAS Gold announces that it has granted incentive stock options to certain Employees entitling them to purchase an aggregate of 325,000 common shares of the Company at an exercise price of $0.12 per share for a 5-year term expiring at close of business on March 1, 2024.
About MAS Gold Corp.
MAS Gold Corp. (formerly Masuparia Gold Corporation) is a Canadian mineral exploration company focused on exploration projects in the prospective La Ronge Greenstone Belt of Saskatchewan, Canada. In the Fraser Institute Survey of Mining Companies for 2018, Saskatchewan ranked 3rd in the world for its Investment Attractiveness Index which rates jurisdictions based on their geologic attractiveness and the effects of government policy on attitudes toward exploration investment. MAS Gold's Saskatchewan projects include the advanced-stage Greywacke deposit, which hosts high-grade gold-bearing zones with a National Instrument 43-101 compliant (at a cut-off grade of 5 grams gold/tonne) Indicated Mineral Resource of 255,500 tonnes at 9.92 grams gold/tonne plus an Inferred Mineral Resource of 59,130 tonnes at 7.42 grams gold/tonne. MAS Gold's NI 43-101 Technical Report of June 1, 2016 concerning the Greywacke gold deposit is available on SEDAR and on MAS Gold's website: http://www.masgoldcorp.com .
On Behalf of the Board of Directors of MAS Gold Corp.
Ronald K. Netolitzky
President & CEO
Caution Regarding Forward-Looking Information and Statements:
This news release includes certain forward-looking statements or information that could cause actual results to differ materially from MAS Gold's plans or expectations. These include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, cost overruns, availability of capital and financing and general economic, market or business conditions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding any updated technical report, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
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 MAS Gold Corp
For further information: MAS Gold Corp., Suite 420 - 789 West Pender Street, Vancouver, British Columbia, Canada, V6C 1H2, T: 604-685-8592, w: www.masgoldcorp.com; Lubica Keighery, VP Corporate Development, c: 778-889-5476, e. [email protected]