Golden Cross Resources Increases Private Placement to C$5 Million
Golden Cross Resources Increases Private
Placement to C$5 Million
Vancouver, British Columbia--(Newsfile Corp. - June 25, 2025) - Golden Cross Resources Inc. (TSXV:
AUX) (OTCQB: ZCRMF) (FSE: ZMLO) ("Golden Cross" or the "Company") is pleased to announce that,
as a result of significant demand, it has increased the size of its previously announced non-brokered
private placement (see news releases dated June 19, 2025). Golden Cross now plans to raise gross
proceeds of up to C$5,000,000 through the issuance of 11,111,111 units at a price of $0.45 per unit.
The Offering consists of units at a price of $0.45 per unit (the "Units"). Each Unit will consist 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 will entitle the holder to purchase one
additional Share at a price of $0.65 per Share for a period of two years from closing of the Offering.
Matt Roma, Golden Cross CEO stated, "
We have seen significant demand for the private placement.
Given the quality of the investors seeking to invest, we have decided to increase the private
placement.
The funds from the private placement will allow us to accelerate and extend our initial
6,000 m drill program including adding additional drill rigs at our Reedy Creek project."
The Company intends to use the proceeds of the Offering to accelerate exploration drilling and
development of the Company's Reedy Creek high-grade gold project located in Victoria, Australia.
Golden Cross may pay finder's fees on some portion of the gross proceeds of the Offering to certain
arms-length parties who assist the Company in introducing subscribers to the Offering. The Offering is
subject to all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The
securities issued under the Offering 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 Offering.
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.
About Golden Cross
Golden Cross Resources is a Canadian mineral exploration company engaged in the advancement of
its 100% owned "Reedy Creek" high-grade gold project in Victoria, Australia, which is comprised of two
tenements of land located approximately 10 km northeast of and contiguous to Southern Cross Gold's
Sunday Creek gold discovery.
For Further Information Contact:
Matt Roma, Director & CEO
+1-778-736-3356
Additional information about Golden Cross can be found on its website:
www.goldencrossresources.com
and at
www.sedarplus.ca
.
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
Offering. 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/256679