Ethos Gold closes $1.76-million private placement

Nov 28, 2019

2019-11-28 15:20 ET – News Release

Mr. Craig Roberts reports

ETHOS GOLD ANNOUNCES CLOSING OF FLOW-THROUGH FINANCING

Ethos Gold Corp. has closed its non-brokered private placement of 6,531,632 flow-through units of the company at a price of 27 cents per flow-through unit for gross proceeds of $1,763,541.

Each flow-through unit comprises one flow-through common share and one-half of one non-flow-through common share purchase warrant. Each warrant is exercisable at a price of 30 cents into one common share for a period of two years from the date of issuance. The flow-through shares will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada).

The gross proceeds of the flow-through offering will be used by the company to incur Canadian exploration expenses that will qualify as flow-through mining expenditures within the meaning of the Income Tax Act (Canada) related to the company’s projects in Quebec on or prior to Dec. 31, 2020, for renunciation to subscribers of flow-through shares effective Dec. 31, 2019.

The flow-through offering is subject to the final acceptance of the TSX Venture Exchange, and all securities issued or issuable under the flow-through offering will be subject to a four-month hold period, expiring on March 29, 2020. Finders’ fees of $21,599 were paid with respect to this offering.

We seek Safe Harbor.

https://ethosgold.com/