GSHRF / FWB: 8X00) (“Goldshore” or the “ Company”), is pleased to announce the closing o f its upsized private placement for aggregate gross proceeds of $10,000,000. The Offering was led by Eventus Capital Corp., as lead agent and sole bookrunner (the “ Lead Agent”), and including
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ANCOUVER, B.C., November 23, 2021: Goldshore Resources Inc. (TSXV: GSHR / OTCQB:
GSHRF / FWB: 8X00) (“Goldshore” or the “ Company”), is pleased to announce the closing o f
its upsized private placement for aggregate gross proceeds of $10,000,000. The Offering was led
by Eventus Capital Corp., as lead agent and sole bookrunner (the “ Lead Agent”), and including
Laurentian Bank Securities Inc. and Canaccord Genuity Corp. (together with the Lead Agent, the
“Agents”).
The Offering was comprised of 10,810,692 flow-through shares (each, a “FT Share”) at a price of
$0.65 per FT Share for gross proceeds of $7,026,950, and 3,911,908 premium flow -through
shares (each, a “Premium FT Share” and, collectively with the FT Shares, the “Offered Shares”)
at a price of $0.76 per Premium FT Share for gross proceeds of $2,973,050.
In connection with the Offering, the Company has paid to the Agents a cash commission equal to
6% of the gross proceeds of the Offering, of which 3% was paid in cash and 3% was paid through
the issuance of 440,178 common shares of the Company at a price of $0.65. In addition, the
Company issued to the Agents 880,356 compensation warrants of the Company exercisable for
a period of 24 months at an exercise price of $0.65.
The Company intends to use the proceeds raised from the Offering for future exploration work on
its Moss Lake gold deposit in Northwest Ontario, Canada. The gross proceeds from the issuance
of the Offered Shares will be used for “Canadian Exploration Expenses” within the meaning of the
Income Tax Act (Canada) (the “Qualifying Expenditures”), which will be renounced with an
effective date no later than December 31, 2021 to the purchasers of the Offered Shares in an
aggregate amount not less than the gross proceeds raised from the issue of Offered Shares. If
the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will
indemnify each subscriber of Offered Shares for any additional taxes payable by such subscriber
as a result of the Company’s failure to renounce the Qualifying Expenditures.
The securities issued pursuant to the Offering will be subject to a four -month and one day hold
period under applicable securities laws in Canada.
Closing of the Offering is subject to final approval by the TSX Venture Exchange.
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Brett Richards, President and Chief Executive Officer of the Company commented: “I am pleased
we have been able to attract significant interest in Goldshore to have upsized the planned $7M
fund raise to $10M, and have now closed. This fresh capital will assist us in continuing to de-risk
the project as we advance our 100,000m drilling campaign well into 2022.”
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.
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.
For More Information – Please Contact:
Brett A. Richards
President, Chief Executive Officer and Director
Goldshore Resources Inc.
P. +1 604 288 4416 M. +1 905 449 1500
W. www.goldshoreresources.com
Facebook: GoldShoreRes | Twitter: GoldShoreRes | LinkedIn: goldshoreres
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 use of proceeds of the Offeri ng, 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 continue 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 results of operations;
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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.