Avidian Gold Announces Non-Brokered $2.5M Private Placement
Avidian Gold Announces Non-Brokered $2.5M Private Placement
TORONTO, Ontario, July 6, 2020 – Avidian Gold Corp. (“ Avidian” or the “Company”) (TSX-
V: AVG) wishes to announce a private placement of units of the Company (“Units”) at $0.10 per
Unit for gross proceeds of up to $2,500,000 (the “ Offering” ) . E a c h U n i t w i l l c o n s i s t o f o n e
common share of the Company (a “Common Share”) and one Common Share purchase warrant
(a “Warrant”). Each Warrant will entitle the holder to acquire a Common Sh are at $0.14 per
Common Share for twenty-four (24) months following the issuance of Warrants.
The net proceeds from the Offering shall be primarily used for the development of Avidian’s
mineral properties and for general and administrative expenses.
The Offering is conditional upon receipt of required regulatory approvals, including the approval
of the TSX Venture Exchange. The securities issued pursuant to the Offering, as well as any
compensation options issued to finders, will be subject to a fo ur months and a day statutory hold
period in accordance with applicable Canadian securities laws.
About Avidian Gold Corp.
Avidian brings a disciplined and veteran team of project managers together with a regional scale
advanced stage gold-copper exploration portfolio in Alaska. Avi dian’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 tonn es at 0.83 g/t Au). Additional
projects include the Amanita gol d property which is adjacent to Kinross Gold’s Fort Knox gold
mine in Alaska and the Jungo gold/copper property in Nevada.
The information in respect of the Golden Zone project is adopte d from the Technical Report on
the Golden Zone Property, August 17, 2017, L. McGarry P.Geo & I. Trinder P.Geo, A.C.A Howe
International Ltd (the “Technical Report”).
Avidian is the majority owner of High Tide Resources, a private company with an option on the
Labrador West iron ore property and owns the base metal Strickland Property and the Black Raven
gold property, all located in Newfoundland and Labrador, Canada.
Avidian is focused on and committed to the development of advan c e d s t a g e m i n e r a l p r o j e c t s
throughout first world mining friendly jurisdictions using industry best practices combined with a
strong social license from local communities. Further details on the Corporation and the individual
projects, including the NI 43-101 Technical report on the Golden Zone property, can be found on
the Corporation’s website at www.avidiangold.com.
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The technical information in this news release has been approve d by Steve Roebuck, P.Geo and
President of Avidian Gold, who is a Qualified Person as defined in National Instrument 43-101 -
Standards of Disclosure for Mineral Projects.
For further information, please contact:
Steve Roebuck, President
E: [email protected] or +1(905) 741-5458
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 actual 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 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 in formation currently available t o 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, perform ance, prospects and opportunities to differ materially
from those expressed or implied by such forward-looking informa tion. 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 a re 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 recei ve requisite approvals in respect of the Offering, failure
to identify mineral resources, failure to convert estimated min eral 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, envir onmental or other project approvals, political risks,
uncertainties relating to the availability and costs of financi ng needed in the future, ch anges in equity markets,
inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital
and operating costs varying signi ficantly from estimates and th e other risks involved in the mineral exploration and
development industry and those risks set out in the Company’s p ublic documents filed on SEDAR. Although the
Company believes that the assumptions and factors used in prepa ring 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 date of
this news release, and no assurance can be given that such even ts will occur in the disclosed time frames or at all.
These and other factors should be considered carefully and readers should not place undue reliance on the Company's
forward-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 law.