AurCrest Gold Announces Third Closing of Brokered Private Placement

Toronto, Ontario (FSCwire) - AurCrest Gold Inc. (the “Company” or “AurCrest”) (TSX-V: AGO) is pleased to announce that, further to its press release of May 26, 2017, the Company has closed a third tranche of its brokered private placement (the “Offering”) with the sale of 300,000 working capital units (the “WC Units”) of the Company at a price of $0.05 per WC Unit for gross proceeds of $15,000.  A cash commission of $1,350 and 30,000 broker warrants were paid to the agent with respect to the closing of the third tranche of the Offering.  The securities issued are subject to a hold period expiring on October 31, 2017.

The Company also wishes to announce that it is extending the closing of the remainder of the Offering of up to 3,200,000 WC Units until the earlier of the sale of the remainder of the WC Units and July 28, 2017. Each WC Unit consists of one (1) common share of the Company priced at $0.05 per common share and one (1) common share purchase warrant (each a “WC Warrant”), with each WC Warrant entitling the holder to acquire one (1) common share until five (5) years from the closing of the Offering at a price of $0.05.

About AurCrest Gold Inc.

AurCrest is a mineral exploration company focused on the acquisition, exploration, and development of gold properties. AurCrest has a portfolio of properties in Ontario, which include the Richardson Lake and Bridget Lake gold properties.
 

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Forward Looking Statement:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties.  Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks.  The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements.  AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking 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.

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