Avidian Gold Announces $2 Million Non-Brokered Private Placement
Avidian Gold Announces $2 Million Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, Ontario, October 22 , 2018 – Avidian Gold Corp. (“Avidian” or the “Company”)
(TSX-V:AVG) is pleased to announce a proposed non -brokered financing by way of private
placement of units of the Company (the “Units”) at C$0.50 per Unit for gross proceeds of up
to C$ 2,000,000 (the “Offering”). Red Cloud Klondike Strike Inc. is acting as a finder in
connection with the Offering.
Each Unit will be comprised of one (1) common share of the Company (a “Common Share”)
and one half of a transferable Common Share purchase warrant (a “Warran t”). E ach full
Warrant will entitle the holder thereof to acquire one Common Shar e at a price of C$ 0.76
per Common Share for a period of 24 months from the date of closing of the Offering ,
subject to an option of the Company to accelerate the expiry date o f the Warrants , in the
event the Common Shares trade above $ 1.00 for twenty consecutive trading days on the
TSX Venture Exchange by providing a notice to warrant holders. Upon receipt of such
Warrant acceleration notice, Warrant holders will be able to ex ercise the Warrants within a
30-day period.
The net proceeds from the Offering shall be primarily used for advancing the Golden Zone
gold-copper project in Alaska and for general corporate purposes.
The Offering is conditional upon receipt of required re gulatory approvals , including the
approval of the TSX Venture Exchange. The Common Shares and the Warrants issued
pursuant to the Offering, as well as any compensation options issued to founders will be
subject to a four month hold period in accordance with applicable Canadian securities laws.
About Avidian Gold Corp.
Avidian Gold brings a disciplined and veteran team of project managers together with a
regional scale advanced stage gold -copper exploration portfolio in Alaska. Avidian’s Golden
Zone project also 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 Amanita which is adjacent to Kinross G old’s Fort
Knox gold mine in Alaska, Jungo and Dome Hill in Nevada and Strickland in Newfoundland.
Avidian Gold is focused on and committed to the development of advanced stage mineral
projects throughout first world mining friendly jurisdictions using in dustry best practices
combined with a strong social license from local communities. Avidian Gold has 56,160,756
shares issued and outstanding.
For further information, please contact:
Nick Tintor, President and CEO
Mobile: 416 953 4244
Office: 416 987 0855
Email: [email protected]
The technical information contained in this news release has been approved by Dr. Tom
Setterfield, P.Geo., Vice President Exploration of Avidian, who is a Qualified Person as
defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
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". These statements are based on information
currently available to the Company and the Company provides no assurance that a ctual results will meet
management's expectations. 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 cond ition 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 fut ure events and conditions, by their very nature
they involve inherent risks and uncertainties. Actual results relating to, among other things, results of
exploration, project development, reclamation and capital costs of the Company's mineral properties, and the
Company's financial condition and prospects, could differ materially from those currently anticipated in such
statements for many reasons such as: changes in general economic conditions and conditions in the financial
markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial,
regulatory, political and competitive developments; technological and operational difficulties encountered in
connection with the activities of the Company; and other matters discussed in this news release. This list is not
exhaustive of the factors that may affect any of the Company's forward -looking statements. These and other
factors should be considered carefully and readers should not place undue reliance on the Company's f orward-
looking statements. The Company does not undertake to update any forward- looking statement that may be
made from time to time by the Company or on its behalf, except in accordance with applicable securities laws
This news release does not constitute an offer of securities for sale in the United States. The securities being
offered have not been, nor will they be, registered under the United States Securities Act of 1933, as
amended, and such securities may not be offered or sold within the United States absent U.S. registration or
an applicable exemption from U.S. registration requirements.