30-Dec-19 Argo Gold Announces Offering of Flow-Through Shares
Argo Gold Announces Offering of Flow-Through Shares
Toronto, Ontario--(Newsfile Corp. - December 30, 2019) - Argo Gold Inc. (
CSE: ARQ
) ("
Argo Gold
" or the "
Company
") is
pleased to announce that it intends to complete a private placement offering of up to 1,000,000 flow through shares ("
Flow
Through Shares
") at a price of $0.12 per Flow Through Share, for gross proceeds of up to $120,000 (the "
Offering
").
All securities issued under the Offering are subject to a four-month and one day statutory hold period.
The gross proceeds from
the Offering will be used for Canadian Exploration Expenses, and will qualify as "flow-through mining expenditures," as defined
in the
Income Tax Act
(Canada).
Finder's fees may be payable to qualified individuals (the "
Finder
") pursuant to which the Finder may receive a finder's fee
equal to 7% of the gross proceeds of the Offering.
The closing of the Offering is anticipated to take place on December 31, 2019.
The closing is subject to certain conditions
including, but not limited to, the receipt of all necessary approvals including the approval of the Canadian Securities Exchange.
About Argo Gold Inc.
Argo Gold is a Canadian mineral exploration and development company, focused on gold exploration projects in central and
northwestern Ontario.
Argo Gold's flagship Uchi Gold Project is comprised of 22 km
2
of multiple mineralized trends and
widespread gold mineralization.
High grade gold intercepts from the Company's winter 2019 drilling program include 132 g/t Au
over 1.8 metres at the Woco Vein.
All of the Company's projects are 100% owned and have the potential for economic
mineralization.
Information relating to the Company and its properties can be obtained from SEDAR at
www.sedar.com
and on
the Company's website at
www.argogold.ca
.
Argo Gold is listed on the Canadian Securities Exchange (
www.thecse.com
) under
the ticker
ARQ
and on the OTC under the ticker ARBTF.
For more information please contact:
Judy Baker
CEO
(416) 786-7860
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE
REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of
applicable securities law.
Forward-looking information is frequently characterized by words such as "plan", "expect", "project",
"intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or
"will" occur.
Forward-looking statements are based on the opinions and estimates at the date the statements are made, and
are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially
from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory
approvals, including that of the CSE.
There are uncertainties inherent in forward-looking information, including factors
beyond the Company's control.
The Company undertakes no obligation to update forward-looking information if
circumstances or management's estimates or opinions should change except as required by law.
The reader is cautioned not
to place undue reliance on forward-looking statements.
Additional information identifying risks and uncertainties that could
affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at
www.sedar.com
.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/51087