Avidian Gold Announces Private Placement Extension
Avidian Gold Announces Private Placement Extension
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, November 25, 2022 – Avidian Gold Corp. (“Avidian” or the “Company”)
(TSX-V: AVG) announces that it has received an extension from the TSX Venture Exchange (the
“Exchange”) to close its non -brokered private placement (the “ Offering”) that was previously
announced on October 17, 2022. The Company currently anticipates Offering will close in one or
more tranches on or before December 15, 2022.
The Offering consists of the offer and sale of units of the Company ( the “Units”) at a price of
$0.035 per Unit, for gross proceeds of up to $ 500,000, exclusive of an upsize option that may be
exercised by the Company in the amount of up to 25% of the size of the Offering, subject to the
approval of the Exchange. Each Unit will be comprised of one common share of the Company (a
“Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will
entitle the holder thereof to acquire one Common Share at an exercise price of $0.06 per Common
Share for a period of twenty-four (24) months following the closing of the Offering.
Certain insiders of the Company may acquire Units in the Offering. Any participation by insiders
in the Offering would constitute a "related party transaction" as defined under Multilateral
Instrument 61 -101 Protection of Minority Security Holders in Special Transactions (" MI 61 -
101"). However, the Company expects such participation would be exempt from the formal
valuation and minority shareholder approval requirements of MI 61 -101 as the fair market value
of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders,
would exceed 25% of the Company's market capitalization.
Further details on the Offering, including the total aggregate number of Units issued, aggregate
proceeds raised, finder’s fees paid, insider participation and use of proceeds, will be announced
upon the closing of the Offering. The Offering is subject to certain conditions including, but not
limited to, the receipt of all necessary regulatory approval s, including the approval of the
Exchange. All securities issued pursuant to the Offering are subject to a statutory hold period of
four months and one day from the date of issuance.
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.
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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. The Company’s district -scale Golden Zone
property 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) within
the Breccia Pipe Deposit. This resource is exposed on the surface and was pit constrained for an
open-pit min ing scenario. The Technical Report was filed on November 17, 2017, and was
authored by Leon McGarry, B.Sc., P.Geo. and Ian D. Trinder, M.Sc., P.Geo. Additional projects
include the Amanita and the Amanita NE gold properties which are both adjacent to Kinro ss
Gold’s Fort Knox gold mine in Alaska, and the Jungo gold-copper property in Nevada.
Avidian is a major shareholder in High Tide Resources (CSE: HTRC) which is focused on, and
committed to, the development of advanced-stage mineral projects in Canada using industry best
practices combined with a strong social license from local communities. High Tide is earning a
100% interest in the Labrador West Iron project located adjacent to IOC/Rio Tinto’s 23 mtpy Carol
Lake Mine in Labrador City, Labrador and owns a 100% interest in the Lac Pegma copper-nickel-
cobalt deposit located 50 km southeast of Fermont, Quebec.
Further details on the Company and the individual projects, including the NI 43 -101 Technical
reports on the Golden Zone 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]
or
Dino Titaro
Director
Mobile (647) 283 7600
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 inform ation
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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 size of the Offering, the completion and terms of th e
Offering, the extension of the Offering, 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 o f
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 failure to complete the Offering on the terms provided or at all, 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 Offering, failure to identify mineral resources,
failure to convert estimated mineral resources to reserves, the inability to complete a feasibi lity 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 date of this news release, and no assurance can be given 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.