Constantine spinout HighGold closes $7.65M financing

Sep 19, 2019

2019-09-19 12:38 ET – News Release

Mr. Darwin Green reports

HIGHGOLD CLOSES C$7.65 MILLION PRIVATE PLACEMENT AND CONFIRMS STOCK EXCHANGE LISTING DATE

Constantine Metal Resources Ltd. spinout HighGold Mining Inc. has closed its previously announced non-brokered private placement of 17 million units at a price of 45 cents per unit for gross proceeds of $7.65-million.

Each unit comprises one common share and one-half of one non-transferable common share purchase warrant, with each warrant exercisable to purchase one share at a price of 70 cents for a period of two years from the issue date.

Trading in the shares on the facilities of the TSX Venture Exchange is expected to commence, effective market open on Monday, Sept. 23, 2019. The company will be listed as a Tier 2 issuer on the exchange under the symbol HIGH.

Cash finders’ fees totalling $329,540.10 were paid in connection with the private placement.

All securities issued in connection with the private placement are subject to a four-month hold period, expiring on Jan. 20, 2020. In addition, HighGold securities held by insiders are subject to a 36-month staged-release escrow agreement pursuant to the listing rules of the exchange and applicable securities laws. Securities issued on the company’s previously announced 20-cent seed round financing that are held by non-insiders of HighGold are also subject to a one-year staged-release pooling agreement pursuant to the listing rules of the exchange and applicable securities laws.

Proceeds from the private placement will be used to finance exploration and development of HighGold’s mineral properties, as well as for general working capital and other corporate purposes of HighGold, as detailed in HighGold’s exchange listing application available on HighGold’s SEDAR profile.

About HighGold Mining Inc.

HighGold is a mineral exploration company focused on premier high-grade gold projects located in North America. HighGold’s flagship asset is the high-grade Johnson Tract gold project located in south-central Alaska, United States, acquired as part of a lease agreement with CIRI.

We seek Safe Harbor.

https://www.constantinemetals.com/