Athena GOLD Closes First Tranche of Private Placement FOR CAD $174,500
**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES
NEWS WIRE SERVICES**
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ATHENA GOLD CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
FOR CAD $174,500
VACAVILLE, CA –April 14, 2022 – Athena Gold Corporation (OTCQB: AHNR)(CSE: ATHA)
(“Athena” or the “Company”) is pleased to announce it has closed the first tranche of a non -
brokered private placement offering (the “Offering”) of up to 6,250,000 units of the Company
(each, a “ Unit”) at a price of C AD $0.08 per Unit for gross proceeds of up to CAD $500,000.
Each Unit consists of one common share in the capital stock of the Company and one common
share purchase warrant, with each warrant entitling the holder thereof to purchase one common
share in the capital stock of the Company at a price of CAD $0.15 at any time on or before the first
business day that is 36 months after the date of issuance.
In connection with the closing of the first tranche of the Offering, the Company has issued
2,181,250 Units for gross aggregate proceeds of CAD $174,500. The Company has paid finder’s
fees on a portion of the first tranche of the Offering consisting of 7% cash and 7% broker warrants,
each broker warrant entitling the holder thereof to purchase one common share in the capital stock
of the Company at a pri ce of CDN $0.15 at any time on or before the first business day that is
24 months after the date of issuance.
An insider of the Company purchased an aggregate of 1, 181,250 Units in the first tranche of the
Offering for proceeds of CAD $94,500. This consti tutes a related party transactions pursuant to
Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions
(“MI 61 -101”). The Company relied on Sections 5.5(a) and 5.7(1)(a) of MI 61-101 for an
exemption from the forma l valuation and minority shareholder approval requirements,
respectively, of MI 61-101, as, neither the fair market value of the subject matter of, nor the fair
market value of the Units purchased by the insider under the first tranche of the Offering exceed
25% of the Company’s market capitalization.
The net proceeds from the Offering are expected to be used for property exploration and general
working capital. All securities issued in connection with the Offering will be subject to a four
month and one day hold period in Canada and are subject to applicable United States hold periods.
None of the foregoing securities have been and will not be registered under the United States
Securities Act of 1933 , as amended (t he “1933 Act”) or any applicable state securities laws and
may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons
(as defined in Regulation S under the 1933 Act) or persons in the United States absent registration
or an applicable exemption from such registration requirements. This news release does not
constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the
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foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Athena Gold Corporation
Athena is engaged in the business of mineral exploration and the acquisition of mineral property
assets. Its objective is to locate and develop economic precious and base metal properties of merit
and to conduct its exploration program on the Excelsior Sp rings Project, located in Esmeralda
County, Nevada, approximately 45 miles southwest of Goldfield, Nevada.
For further information about Athena Gold Corporation and our Excelsior Springs Gold project,
please visit www.athenagoldcorp.com.
On Behalf of the Board of Directors
John Power
Chief Executive Officer and President
Contact:
Phone: John Power, 707-291-6198
Email: [email protected]
Forward Looking Statements
This press release contains forward -looking statements and forward -looking information (collectively, “forward -
looking statements”) within the meaning of applicable Canadian and U.S. securities laws. All statements, other than
statements of historical fact, included herein including, without limitation, statements regarding the completion of the
Offering, expected use of proceeds from the Offering, future results from exploration, and the anticipated business
plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes
that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-
looking statements are typically identified by words such as: “believes”, “will”, “expects”, “anticipates”, “intends”,
“estimates”, “plans”, “may”, “should”, “potential”, “scheduled”, or variations of such words and phrases and
similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur
or be taken or achieved. In making the forward -looking statements in this press release, the Company has applied
several material assumptions, including without limitation, that there will be investor interest in future financi ngs,
market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits,
licenses and regulatory approvals in connection with the future exploration and development of the Company’s
projects in a timely manner, the availability of financing on suitable terms for the exploration and development of the
Company’s projects and the Company’s ability to comply with environmental, health and safety laws.
The Company cautions investors that any forward -looking statements by the Company are not guarantees of future
results or performance, and that actual results may differ materially from those in forward -looking statements as a
result of various factors, including, operating and technical difficulties in connection w ith mineral exploration and
development activities, actual results of exploration activities, the estimation or realization of mineral reserves and
mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and
affairs, as currently contemplated, the timing and amount of estimated future production, the costs of production,
capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital,
future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the
demand and market price for commodities, lack of investor interest in future financings, accidents, labor disputes and
other risks of the mining industr y, delays in obtaining governmental approvals, permits or financing or in the
completion of development or construction activities, risks relating to epidemics or pandemics such as COVID –19,
including the impact of COVID–19 on the Company’s business, financial condition and results of operations, changes
in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any
necessary permits, consents, approvals or authorizations, including of the Canadian Securities Exchange, the timing
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and possible outcome of any pending litigation, environmental issues and liabilities, and other factors and risks that
are discussed in the Company’s periodic filings with the SEC and disclosed in the final long form prospec tus of the
Company dated August 31, 2021.
Readers are cautioned not to place undue reliance on forward -looking statements. The Company undertakes no
obligation to update any of the forward-looking statements in this press release or incorporated by referen ce herein,
except as otherwise required by law.