Avidian Gold arranges $2-million private placement

Oct 23, 2018

2018-10-22 16:36 ET – News Release

Mr. Nick Tintor reports

AVIDIAN GOLD ANNOUNCES $2 MILLION NON-BROKERED PRIVATE PLACEMENT

Avidian Gold Corp. has arranged a proposed non-brokered financing by way of private placement of units of the company at 50 cents per unit for gross proceeds of up to $2-million. Red Cloud Klondike Strike Inc. is acting as a finder in connection with the offering.

Each unit will comprise one common share of the company and one-half of a transferable common share purchase warrant. Each full warrant will entitle the holder thereof to acquire one common share at a price of 76 cents per common share for a period of 24 months from the date of closing of the offering, subject to an option of the company to accelerate the expiry date of the warrants, in the event the common shares trade above $1 for 20 consecutive trading days on the TSX Venture Exchange by providing a notice to warrantholders. Upon receipt of such warrant acceleration notice, warrantholders will be able to exercise the warrants within a 30-day period.

The net proceeds from the offering shall be primarily used for advancing the Golden Zone gold-copper project in Alaska and for general corporate purposes.

The offering is conditional upon receipt of required regulatory approvals, including the approval of the TSX Venture Exchange. The common shares and the warrants issued pursuant to the offering as well as any compensation options issued to founders will be subject to a four-month hold period in accordance with applicable Canadian securities laws.

About Avidian Gold Corp.

Avidian Gold brings a disciplined and veteran team of project managers together with a regional-scale, advanced-stage gold-copper exploration portfolio in Alaska. Avidian’s Golden Zone project also hosts a National Instrument 43-101 indicated gold resource of 267,400 ounces (4,187,000 tonnes at 1.99 grams per tonne gold) plus an inferred gold resource of 35,900 ounces (1,353,000 tonnes at 0.83 gram per tonne gold). Additional projects include Amanita (which is adjacent to Kinross Gold’s Fort Knox gold mine) in Alaska; Jungo and Dome Hill in Nevada; and Strickland in Newfoundland.

We seek Safe Harbor.

http://avidiangold.com/news-releases/