Golden Cross Closes C$3.75M Private Placement
Golden Cross Closes C$3.75M Private
Placement
Vancouver, British Columbia--(Newsfile Corp. - June 17, 2026) - Golden Cross Resources Inc. (TSXV:
AUX) (OTCQB: ZCRMF) (FSE: ZMLO) ("Golden Cross" or the "Company") is pleased to announce that
it has closed its non-brokered private placement of units, raising gross proceeds of C$3,750,000 (the
"Private Placement").
The Private Placement consisted of the issuance of 22,058,821 units priced at $0.17 per unit (each, a
"
Unit
"). Each Unit consists of one common share in the capital of the Company (a "
Share
") and one half
of one common share purchase warrant (each whole warrant, a "
Warrant
"). Each Warrant entitles the
holder to purchase one additional Share at a price of $0.30 per Share until June 17, 2028.
The Company intends to use the proceeds of the Private Placement to accelerate exploration drilling
and development of the Company's Reedy Creek high-grade gold project located in Victoria, Australia
and for general working capital and administrative purposes.
In connection with the closing of the Private Placement, Golden Cross paid cash finder's fees totaling
C$102,078.59.
The Private Placement is subject to all necessary regulatory approvals, including the final approval of the
TSX Venture Exchange. The securities issued under the Private Placement will be subject to a hold
period under applicable securities laws in Canada expiring four months and one day from the closing
date of the Private Placement.
Insiders of the Company purchased an aggregate of 300,000 Units in the Private Placement. Such
insider participation constitutes a "related party transaction" under Multilateral Instrument 61-101 -
Protection of Minority Security Holders in Special Transactions
("
MI 61-101
"). The Company is relying
on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101
pursuant to sections 5.5(a) and 5.7(1)(a) thereof, as the fair market value of the securities subscribed for
does not exceed 25% of the Company's market capitalization.
About Golden Cross Resources
Golden Cross Resources (
TSXV: AUX
) (
OTCQB: ZCRMF
) is a Canadian mineral exploration company
focused on advancing the Reedy Creek gold project in Victoria, Australia. Located just 10 km from
Southern Cross Gold's Sunday Creek discovery, the project covers two contiguous tenements in one of
Australia's most active epizonal gold corridors.
For Further Information Contact:
Matt Roma, Director & CEO
+1-778-726-3356
Additional information about Golden Cross can be found on its website:
www.goldencrossresources.com
and at
www.sedarplus.ca
.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from such registration is available.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news
release includes certain "forward-looking statements" under applicable Canadian securities
legislation relating plans for future exploration and drilling and the timing of same, the merits of the
Company's mineral projects and other plans of the Company, including statements relating to the use
of proceeds and completion of the Private Placement. Forward-looking statements are statements that
are not historical facts; they are generally, but not always, identified by the words "encouraging",
"expects", "plans", "anticipates", "believes", "interpret", "intends", "estimates", "projects", "aims",
"suggests", "often", "target", "future", "likely", "pending", "potential", "goal", "objective", "prospective",
"possibly", "preliminary" and similar expressions, or that events or conditions "will", "would", "may",
"can", "could" or "should" occur, or other statements, which, by their nature, refer to future events. The
Company cautions that forward-looking statements are based on the beliefs, estimates and opinions
of the Company's management on the date the statements are made, and that such statements are
subject to risks and uncertainties that may cause actual results, performance or developments to
differ materially from those contained in the statements. Consequently, there can be no assurances
that such statements will prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements.
Factors that could cause future results to differ materially from those anticipated in forward-looking
statements include risks associated with exploration and drilling; the timing and content of upcoming
work programs; geological interpretations based on drilling that may change with more detailed
information; possible accidents; the possibility that the Company may not be able to secure permitting
and other governmental approvals necessary to carry out the Company's plans; the risk that the
Company will not be able to raise sufficient funds to carry out its business plans; the possibility that
future exploration results will not be consistent with the Company's expectations; increases in costs;
environmental compliance and changes in environmental and other local legislation and regulation;
interest rate other risks associated with mineral exploration operations, the risk that the Company will
encounter unanticipated geological factors and exchange rate fluctuations; changes in economic and
political conditions; and other risks involved in the mineral exploration industry. The reader is urged to
refer to the Company's Management's Discussion and Analysis, publicly available through the
Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval
(SEDAR+) at
www.sedarplus.ca
for a more complete discussion of risk factors and their potential
effects.
Forward-looking statements are based on a number of assumptions, including management's
assumptions about the following: the availability of financing for the Company's exploration activities;
operating and exploration costs; the Company's ability to attract and retain skilled staff; timing of the
receipt of necessary regulatory and governmental approvals; market competition; and general
business and economic conditions. 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 as required by law.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES
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https://www.newsfilecorp.com/release/301824