Goldshore Announces Early Exercise of Warrants for $4.9 Million Gross Proceeds
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Goldshore Announces Early Exercise of Warrants for
$4.9 Million Gross Proceeds
VANCOUVER, B.C., July 30, 2024: Goldshore Resources Inc. (TSXV: GSHR / OTC Markets:
GSHRF / FSE: 8X00) (“Goldshore” or the “Company”) is pleased to announce that it has secured
funding of CAD $4,875,000 through the 100% early exercise of 37,500,000 common share
purchase warrants . These warrants were issued at an exercise price of CAD $0.13 per share ,
with a 36 month term, in connection with the Company's non-brokered private placement, which
closed on November 17, 2023.
Michael Henrichsen, CEO of Goldshore commented, “The exercise of these warrants provides a
significant boost to our treasury , securing funding through the completion of the Preliminary
Economic Assessment (“PEA”) expected in Q1 2025 and supporting the acceleration of our
strategic plan to unlock the full value and potential of the Moss Gold Deposit. I would like to extend
my sincere thanks to members of the SAF Group, insiders, and all close associates that
participated in this warrant exercise for their continued support.”
Issuance of RSUs
The Company has also issued 150,000 restricted share units (" RSUs") to Shawn Khunkhun, a
director of the Company. The RSUs will fully vest on July 29, 2025, one year from the date of
grant. Once vested, each RSU represents the right to receive one Common Share, the equivalent
cash value thereof, or a combination of the two, at the Company's discretion. The issuance of
RSUs have been made in accordance with the Company’s Omnibus Incentive Plan (the “ Plan”)
that was approved by the Company’s shareholders on January 23, 2024.
About Goldshore
Goldshore is a growth-oriented gold company focused on delivering long -term shareholder and
stakeholder value through the acquisition and advancement of primary gold assets in tier -one
jurisdictions. It is led by the ex-global head of structural geology fo r the world’s largest gold
company and backed by one of Canada’s pre -eminent private equity firms. The Company’s
current focus is the advanced stage 100% owned Moss Gold Project which is positioned in
Ontario, Canada, with direct access from the Trans-Canada Highway , hydroelectric power near
site, supportive local communities and skilled workforce. The Company has invested over $6 0
million of new capital and completed approximately 80,000 meters of drilling on the Moss Gold
Project, which, in aggregate, has had over 235,000 meters of drilling. The 2024 updated NI 43-
101 mineral resource estimate (“MRE”) has expanded to 1.54 million ounces of Indicated gold
resources at 1.23 g/t Au a nd 5.20 million ounces of Inferred gold resources at 1.11 g/t Au. The
MRE only encompasses 3.6 kilometers of the 35+ kilometer mineralized trend, remains open at
depth and along strike and is one of the few remaining major Canadian gold deposits positioned
for fast track through this development cycle. For more information, please visit SEDAR+
(www.sedarplus.ca) and the Company’s website (www.goldshoreresources .com).
For More Information – Please Contact:
Michael Henrichsen
President, Chief Executive Officer and Director
Goldshore Resources Inc.
W: www.goldshoreresources.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of
the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains statements that constitute “forward-looking statements.” Such forward
looking statements involve known and unknown risks, uncertainties and other factors that may
cause the Company’s actual results, performance or achievements, or developments to differ
materially from the anticipated results, performance or achievements expressed or implied by
such forward-looking statements. Forward looking statements are statements that are not
historical facts and are generally, but not always, identified by the words “expects,” “plans,”
“anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or
that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward-looking statements in this news release include, among others, statements relating to
expectations regarding the exploration and development of the Moss Gold Project, the timing of
completion and release of an updated preliminary economic assessment, the timing and
completion of a strategic permitting plan and other statements that are not historical facts. By their
nature, forward -looking statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or achievements, or other future events,
to be materially different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors and risks include, among others: the
Company may require additional financing from time to time in order to con tinue its operations
which may not be available when needed or on acceptable terms and conditions acceptable;
compliance with extensive government regulation; domestic and foreign laws and regulations
could adversely affect the Company’s business and resul ts of operations; the stock markets have
experienced volatility that often has been unrelated to the performance of companies and these
fluctuations may adversely affect the price of the Company’s securities, regardless of its operating
performance; and the impact of COVID-19.
The forward-looking information contained in this news release represents the expectations of the
Company as of the date of this news release and, accordingly, is subject to change after such
date. Readers should not place undue importance on forward -looking information and should not
rely upon this information as of any other date. The Company undertakes no obligation to update
these forward-looking statements in the event that management’s beliefs, estimates or opinions,
or other factors, should change.