Green River Gold Corp. Announces Final Closing of Oversubscribed Private Placement of Units
EDMONTON, June 4, 2021 - Further to its news releases on December 8, 2020, March 12, 2021 and May 14, 2021, Green River Gold Corp. (the "Company" or "Green River") (CNSX:CCR.CN) is pleased to announce that the Company has closed the final tranche of the oversubscribed private placement previously announced (the "Offering"). In total, the Company issued 10,000,000 units of the Company ("Units") under the Offering at a price of $0.07 per Unit for gross proceeds of CAD$700,000. Each Unit consists of one common share of the Company ("Common Share") and one Common Share purchase warrant ("Warrant") with each whole Warrant entitling the holder to acquire one Common Share at a price of $0.11 for a period of three years following the issuance date.
No broker commissions were paid with respect to any closings which took place under the Offering. However, the Company paid an aggregate amount of $36,484.00 ("Finder's Fees") to certain finders, which amount equals 8% of the aggregate gross proceeds of subscriptions under the Offering facilitated by such finders. The Finder's Fees were paid in a combination of cash ($28,084.00) and Units (120,000 Units issued to certain finders at a deemed value of $0.07 per Unit being $8,400.00 in aggregate).
The proceeds from the Offering will be used for exploration and development of the Company's mineral and placer claims including a UAV-MAG Survey flown by Pioneer Exploration Consultants Ltd., fieldwork on the Kymar Silver Property and exploration of the Company's placer claims.
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. 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 Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Company controls a 100% interest in the 1,214-hectare Kymar Silver Project, located 28 kilometers West of Invermere, British Columbia.
The Company controls a 100% interest in placer mining projects on the Little Swift River, Sovereign Creek, Willow River, and Swift River. The Company rents placer claims to placer gold miners for cash rent, in lieu of a royalty.
Green River Gold Corp. also distributes equipment and supplies for the placer mining industry and is a Limited Partner in the Green River Gold Trading Limited Partnership, which purchases raw placer gold from miners. Those operations and mining projects are based out of a 6,000 square foot office, retail, and manufacturing facility in the heart of the Cariboo Mining District in Quesnel, British Columbia.
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.
For more information contact:
Mr. Perry Little
President and Chief Executive Officer
780-993-2193
Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumption. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
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.