Havilah Announces Non-Brokered Flow-Through Private Placement Financing of Up to $4,000,000
Havilah Announces Non-Brokered Flow-Through Private Placement Financing of Up to $4,000,000
Toronto, Ontario, March 5, 2019 /CNW/ - Havilah Mining Corporation ("Havilah" or the "Company")
(TSXV: HMC) is pleased to announce a non-brokered private placement financing of up to 8,333,333 flow-
through common shares (“ FT Shares”) at a price of $0. 48 per FT Share for gross proceeds of up to
$4,000,000.
This financing is subject to regulatory approval and all securities to be issued pursuant to the financing will
be subject to a four-month hold period under applicable Canadian securities laws.
The Company has engaged Canaccord Genuity Corp. to act as its financial advisor for the offering. The
Company may compensate persons who act as finders for the Offering in accordance with the rules of the
TSX Venture Exchange.
The gross proceeds from the sale of the FT Shares will be used to incur eligible Canadian Exploration
Expenses (“CEE”) at the Company’s True North project for exploration of the Rice Lake greenstone belt
located in Manitoba, Canada. The Company will renounce CEE effective on or before December 31, 2019.
The financing is expected to close on or about March 18, 2019.
About the Rice Lake greenstone belt
The Rice Lake greenstone belt is situated at the western extent of the Uchi Subprovince of the Archean
Superior Province, approximately 150 kilometres northeast of Winnipeg, Manitoba and 110 kilometres west
of Red Lake, Ontario. It represents the Manitoba extension of the Red Lake and Birch -Uchi greenstone
belts in Ontario, which have collectedly produced in excess of 30 million ounces of gold. Like the Red Lake
belt, the Rice Lake belt record s more than 300 million years of magmatism, sedimentation and orogenic
activity along the south margin of the North Caribou Terrane – the ancient nucleus of the western Superior
Province. Additionally, the Rice Lake belt is bounded by crustal -scale faults and contains fault -controlled
basins of ‘Temiskaming-like’ fluvial-alluvial clastic rocks, which are important empirical guides to areas of
high potential for orogenic gold deposits of the type found elsewhere in the Superior Province, most notably
in the Timmins camp (Abitibi greenstone belt) in Ontario.
About Havilah Mining Corporation
Havilah is a junior gold producer and explorer that owns the True North mine and mill complex , and is
currently reprocessing historic tailings on a seasonal basis . In addition to operating True North in Bissett,
Manitoba, Havilah holds approximately 53,000 hectares of prospective land within and adjacent to the Rice
Lake greenstone belt. Havilah believes its land package is a prime exploration opportunity , with potential
to develop a mining district centred on its True North facility. The Company also owns the Tully project near
Timmins, Ontario , and intends to focus on both organic growth opportunities and accretive acquisition
opportunities in North America.
ON BEHALF OF THE BOARD OF DIRECTORS
Ron Clayton
President and CEO
For more information, please contact:
Shaun Heinrichs, CPA
Chief Financial Officer
(604) 674-1293
www.havilahmining.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The securities being offered have not been, nor will they be registered under the United States Securities
Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States
or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable
exemption from the U.S. registration requirements. This release does not constitute an offer for sale of
securities in the United States.
SOURCE Havilah Mining Corporation
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
This press release may contain forward -looking statements. Often, but not always, forward -looking
statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate",
or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. This press release
may contain forward -looking statements. Often, but not always, forward -looking statements can be
identified by the use of words such as "plans", "expects", or "does not expect" , "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or
describes a "goal", or variation of such words and phrases or state that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be achieved.
All forward -looking statements reflect the Company's beliefs and assumptions based on information
available at the time the statements were made. Actual results or events may differ from those predicted in
these forward-looking statements. All of the Company's forward -looking statements are qualified by the
assumptions that are stated or inherent in such forward -looking statements, including the assumptions
listed below. Although the Company bel ieves that these assumptions are reasonable, this list is not
exhaustive of factors that may affect any of the forward-looking statements.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and
other factors which may cause the actual results, performance or achievements to be materially different
from any future results, prediction, projection, forecast, performance or achievements expressed or implied
by the forward-looking statements. All statements that address expectations or projections about the future,
including but not limited to, statements about the proposed Offering and use of proceeds therefromand
contemplated approvals of the TSXV, are forward -looking statements. Although Havilah has attempted t o
identify important factors that could cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on f orward-looking statements.
The Company disclaims any intention or obligation to update or revise any forward -looking statements
whether as a result of new information, future events, or otherwise, except in accordance with applicable
securities laws.