Avidian Extends Closing Of Non-Brokered Private Placement
Avidian Extends Closing Of Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION,
DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR
INTO THE UNITED STATES
TORONTO, Ontario, May 28, 2021 – Avidian Gold Corp. (“Avidian” or the “Company”) (TSX-
V: AVG & OTCQB: AVGDF) wishes to announce the TSX Venture Exchange (“ TSXV”) has
approved a 14 day extension to the closing of the Company’s private placement announced on
April 26, 2021 (the “Offering”) to allow time to receive and process subscription agreements.
The Offering includes the sale of common shares of the Company issued on a “flow-through” basis
pursuant to the Income Tax Act (Canada) (the “FT Shares”) at a price of $0.18 per FT Share, for
gross proceeds of up to $2,500,000. The remainder of the Offering will comprise the sale of units
of the Company (“ Units”) at a price of $0.15 per Unit for aggregate gross proceeds of up to
$6,000,000 when combined with the sale of FT Shares. Units will consist of one common share of
the Company and a half warrant (a “Warrant”). Each full Warrant will entitle the holder to acquire
a common share of the Company at $0.20 for thirty-six (36) months. The Company reserves the
right to up-size the Offering by 25%. The Offering is expected to close on or about June 9, 2021,
subject to TSXV approval.
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 of America. The securities have not been and will not be
registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities
laws and may not be offered or sold within the United States or to U.S. Persons (as defined in
the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an
exemption from such registration is available.
About Avidian Gold Corp.
Avidian brings a disciplined and veteran team of project managers together with a focus on
advanced stage gold exploration projects in Alaska. Avidian’s Golden Zone project hosts a NI 43-
101 indicated gold resource of 267,400 ounces (4,187,000 tonnes at 1 .99 g/t Au) plus an inferred
gold resource of 35,900 ounces (1,353,000 tonnes at 0.83 g/t Au)*. Additional projects include the
Amanita and the Amanita NE gold properties which are both adjacent to Kinross Gold’s Fort Knox
gold mine in Alaska , and the Jung o gold-copper property in Nevada. *Technical Report on the
Golden Zone Property, August 17, 2017, L. McGarry P.Geo & I. Trinder P.Geo, A.C.A Howe
International Ltd.
High Tide is a private corporation that is focused on, and committed to, the development of
advanced-stage mineral projects in Canada using industry best practices combined with a strong
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social license from local communities. High Tide is earning a 100% interest the Labrador West
Iron project located adjacent to IOC/Rio Tinto’s 23 mtpy Carol L ake Mine in Labrador City,
Labrador and owns a 100% interest in the Lac Pegma Copper -Nickel-Cobalt deposit located 50
kilometres southeast of Fermont, Quebec. High Tide is majority controlled by Avidian.
Further details on the Co mpany and the individual p rojects, including the NI 43 -101 Technical
reports on the Golden Zone property and Labrador West Iron property can be found on the
Company’s website at www.avidiangold.com.
For further information, please contact:
Steve Roebuck
President & CEO
Mobile: (905) 741-5458
Email: [email protected]
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 news release.
Forward-looking information
This News Release includes certain "forward-looking statements" which are not comprised of historical facts including statements
regarding the use of proceeds. Forward -looking statements include estimates and statements that describe the Company’s future
plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to
occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”,
“could”, “would”, “will”, or “plan”. Since forward -looking statements are based on assumptions and address future events and
conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on informati on
currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations.
Risks, uncertainties and other factors involved with forward -looking information could cause actual events, results, performance,
prospects and opportunities to differ materially from those expressed or implied by such forward -looking information. Forward
looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements,
exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of
the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from
such forward-looking information include, but are not limited to: the ability to anticipate and counteract the effects of COVID-19
pandemic on the business of the Company, including without limitation the effects of COVID-19 on the capital markets, commodity
prices supply chain disruptions, restrictions on labour and workplace attendance and local and international travel, failure to receive
requisite approvals in respect of the foregoing, failure to identify mineral resources, failure to convert estimated mineral resources
to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of
metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals,
political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the
availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations
in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the
other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents
filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information
in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the da te of
this news release, and no assurance can be gi ven that such events will occur in the disclosed time frames or at all. The Company
disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information,
future events or otherwise, other than as required by law.
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