Green River Gold Corporation: Announces Increase to Private Placement of Units
EDMONTON, July 31, 2020 - Further to its news releases on January 23, 2020 and May 1, 2020, Green River Gold Corp. (the "Company") (CSE:CCR) (CNSX:CCR.CN) is pleased to announce that, due to increased demand, it will be increasing the size of its previously announced unit offering (the "Unit Offering"). The Unit Offering will now consist of up to $1,200,000 of Units of the Company ("Units") at a price of $0.06 per Unit with each Unit consisting of one common share of the Company ("Common Share") and one-half Common Share purchase warrant ("Warrant") with each whole Warrant entitling the holder to acquire one Common Share at a price of $0.10 for a period of two years following the issuance date. To date under the Unit Offering, the Company has issued an aggregate of 6,628,000 Units for aggregate gross proceeds of CAD$397,680.00.
Further, as previously announced, the Company had engaged an independent Canadian investing banking firm to assist with obtaining financing under the Unit Offering. That engagement has terminated and no commission was payable to the broker. Instead, the Company may pay fees to certain finders of up to 8% of the aggregate gross proceeds of subscriptions under the Unit Offering facilitated by such finders.
Lastly, further to the Company's previously announced unsecured convertible debenture offering ("Debenture Offering"), with the increase to the Unit Offering due to increased demand, the Company will no longer pursue the Debenture Offering. No convertible debentures were issued under the Debenture Offering.
The proceeds from the Unit Offering will be used for exploration and development of the Company's Fontaine mineral and placer gold claims, as well as equipment and inventory purchases and working capital.
The Company plans on closing the final tranche of the Unit Offering by August 31, 2020.
About Green River Gold Corp.
Green River Gold Corp. acquires and develops placer mining claims and mineral claims.
The Company controls a 100% interest in the flagship Fontaine Gold Project, a 100% interest in the Little Swift Gold Project and a 100% interest in the Sovereign Gold Project. The 8,900-hectare Fontaine Gold Project is situated 12 kilometers southwest of Barkerville. The property includes both placer and hard-rock tenures. The properties straddle an 18 km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Gold Royalties Cariboo Gold Project (formerly Barkerville Gold Mines). Green River Gold Corp. also distributes equipment for the placer mining industry from its facility in the heart of the Cariboo mining district in Quesnel, BC.
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com
Below is a current map of the Company's mining claims:
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For more information contact:
Mr. Perry Little
President and Chief Executive Officer
780-993-2193
This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release include, without limitation, statements regarding the offering. In making the forward- looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
The securities of the company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.