Artemis Announces Non-Brokered Private Placement Financing of up to $30 Million
Artemis Announces Non-Brokered Private
Placement Financing of up to $30 Million
/NOT FOR DISTRIBUTION OR RELEASE IN
THE UNITED STATES
/
VANCOUVER
,
Aug. 23, 2019
/CNW/ - ARTEMIS GOLD INC. ("
Artemis
" or the "
Company
") is
pleased to announce that it intends to complete a best efforts non-brokered private placement
financing for gross proceeds of up to
$30 million
(the "
Private Placement
"). The Company expects
to use the net proceeds from the Private Placement towards funding further exploration of its GK
Property in
Northwestern British Columbia
, to identify and finance further growth and development
opportunities, as well as for general working capital.
The Private Placement will result in the Company issuing up to 33,333,333 units (the "
Units
") at a
price of
$0.90
per Unit. Each Unit will consist of one common share in the capital of the Company
and one common share purchase warrant, with each whole warrant entitling the holder to purchase
one additional common share in the capital of the Company at a price of
$1.08
per share for a
period of 60 months following closing of the Private Placement.
The Private Placement is subject to certain conditions including, but not limited to, receipt of all
required regulatory approvals. The securities issued by the Company in connection with the Private
Placement will be subject to a 4-month and one day "hold period" as prescribed by applicable
securities laws.
Further updates will be provided in due course.
ARTEMIS GOLD INC.
On behalf of the Board of Directors
"Steven Dean"
Chairman and Chief Executive Officer
+1 604 558 1107
Cautionary Note Regarding Forward-Looking Information
This news release contains certain "forward looking statements" and certain "forward-looking
information" as defined under applicable Canadian and U.S. securities laws. Forward-looking
statements and information can generally be identified by the use of forward-looking terminology
such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans",
"potential" or similar terminology. Forward-looking statements and information are not historical
facts, are made as of the date of this news release, and include, but are not limited to, statements
regarding the Private Placement, the proceeds and use of proceeds from the Private Placement,
the closing of the Private Placement, discussions of future plans, guidance, projections, objectives,
estimates and forecasts and statements as to management's expectations with respect to, among
other things, the activities contemplated in this news release and the timing and receipt of requisite
approvals in respect thereof. These forward looking statements involve numerous risks and
uncertainties and actual results may vary. Important factors that may cause actual results to vary
include without limitation, risks related to the Private Placement, risks related to the ability of the
Company to settle documentation and close the Private Placement, risks related to the Company's
ability to use the proceeds of the Private Placement as anticipated, the timing and receipt of certain
approvals, changes in commodity and power prices, changes in interest and currency exchange
rates, risks inherent in exploration estimates and results, timing and success, inaccurate
geological and metallurgical assumptions (including with respect to the size, grade and
recoverability of mineral reserves and resources), changes in development or mining plans due to
changes in logistical, technical or other factors, unanticipated operational difficulties (including
failure of plant, equipment or processes to operate in accordance with specifications, cost
escalation, unavailability of materials, equipment and third party contractors, delays in the receipt
of government approvals, industrial disturbances or other job action, and unanticipated events
related to health, safety and environmental matters), political risk, social unrest, and changes in
general economic conditions or conditions in the financial markets. In making the forward-looking
statements in this news release, the Company has applied several material assumptions, including
without limitation, the assumptions that: (1) market fundamentals will result in sustained mineral
demand and prices; (2) the receipt of any necessary approvals and consents in connection with the
development of any properties; (3) the availability of financing on suitable terms for the
development, construction and continued operation of any mineral properties; (4) sustained
commodity prices such that any properties put into operation remain economically viable; and (5)
that the Company will be able to close the Private Placement on the terms set out in this news
release. The actual results or performance by the Company could differ materially from those
expressed in, or implied by, any forward-looking statements relating to those matters. Accordingly,
no assurances can be given that any of the events anticipated by the forward-looking statements
will transpire or occur, or if any of them do so, what impact they will have on the results of
operations or financial condition of the Company. Except as required by law, the Company is
under no obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any
forward-looking statement, whether written or oral, that may be made from time to time, whether as
a result of new information, future events or otherwise, except as may be required under
applicable securities laws.
SOURCE
Artemis Gold Inc.
View original content:
http://www.newswire.ca/en/releases/archive/August2019/23/c3691.html
%SEDAR: 00048074E
For further information:
Steven Dean, Chairman and Chief Executive Officer, +1 604 558 1107
CO: Artemis Gold Inc.
CNW 08:00e 23-AUG-19