Beauce Gold Fields to Close $700,000 Flow- Through Private Placement
Beauce Gold Fields to Close $700,000 Flow-
Through Private Placement
Montreal, Quebec--(Newsfile Corp. - March 30, 2021) -
Beauce Gold Fields (Champs D'Or en
Beauce) (TSXV: BGF),
("BGF"),
is pleased to announce that it is closing a fully subscribed non-
brokered private placement of 2,000,000
Flow-Through units ("Unit") at $0.35 per unit for gross
proceeds of $700,000.
Patrick Levasseur, President and CEO of Beauce Gold Fields, said, "This Flow-Through financing will
allow Beauce Gold Fields to broaden its upcoming drill campaign on its Saint-Simon-les-Mines Beauce
Gold property and expand its exploration efforts on the Megantic property."
Each unit will be comprised of one (1) Flow-through common share and of one (1/2) common share
purchase warrant ("Warrant") of the company. Each full warrant will entitle the holder thereof to purchase
one common share of the capital stock of the company at a price of $0.50
for a period of 24 months from
the date of closing of the placement. Each share issued pursuant to the placement will have a mandatory
four-month-and-one-day hold period from the date of closing of the placement. The placement is subject
to standard regulatory approvals.
In connection with the placement, the company will pay a cash finder's fee of $34,000.00 to GloRes
Securities Inc. of Whitchurch-Stoufville,
Ontario. The company will also issue 85,714 warrants to GloRes
Securities Inc. that will give GloRes Securities Inc. the right to purchase one common share of the
company at $0.40
for 24 months following the closing of the placement and that will have a mandatory
four (4) month and one (1) day holding period from the date of closing of the placement.
The company
will also issue 20,000 warrants to Marquest Asset Management Inc. of Toronto, Ontario that will give the
right to purchase one common share of the company at $0.40
for 24 months following the closing of the
placement and that will have the same mandatory four (4) month and one (1) day holding period.
Also in connection with the placement, the company will pay a cash finder's fee of $21,000.00 to Qwest
Investment Fund Management of Vancouver, British Columbia. The company will also issue to Qwest
Investment
60,000 warrants that will give Qwest Investment the right to purchase one common share of
the company at $0.35 for 24 months following the closing of the placement and that will have a
mandatory four (4) month and one (1) day holding period from the date of closing of the placement.
Proceeds will be used for exploration work on the Company's gold projects.
About Beauce Gold Fields
Beauce Gold Fields is a gold exploration company focused on placer to hard rock exploration in the
Beauce region of Southern Quebec.
The Company's flagship property is the St-Simon-les-Mines Gold
project site of Canada's first gold rush that pre-dates the Yukon Klondike.
The Beauce region hosted
some of the largest historical placer gold mines in Eastern North America that were active from 1860s to
the 1960s. It produced some of the largest gold nuggets in Canadian mining history (50oz to 71oz).
Comprising 152 contiguous claims and 7 real estate lots, the project area contains a six kilometer long
placer channel consisting of an unconsolidated gold-bearing auriferous units of a lower saprolite and an
upper brown diamictite. The Company has calculated a Gold Exploration Target for the entire historical
placer channel ranges between
61,000 ounces
(2,200,000 m3 @ 0.87g Au/m3) and
366,000 ounces*
(2,200,000 m3 @ 5.22 g Au/m3).
*Source: Beauce July 4
th
2018[43-101 Report.
The Company has identified a major Fault Line that coincides with an interpreted fault structure
across
the property. Evidence suggests the erosion of the Fault Line as a probable source of the historical
placer gold channel.
Beauce Gold Fields website
www.beaucegold.com
Disclaimers:
This press release contains certain forward-looking statements, including, without limitation,
statements containing the words "may", "plan", "will", "estimate", "continue", "anticipate", "intend",
"expect", "in the process" and other similar expressions which constitute "forward-looking information"
within the meaning of applicable securities laws. Forward-looking statements reflect the Company's
current expectation and assumptions, and are subject to a number of risks and uncertainties that
could cause actual results to differ materially from those anticipated. These forward-looking
statements involve risks and uncertainties including, but not limited to, our expectations regarding
mineral exploration. Such statements reflect the current views of the Company with respect to future
events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in
the Company's on-going filings with the securities regulatory authorities, which filings can be found at
www.sedar.com
. Actual results, events, and performance may differ materially. Readers are cautioned
not to place undue reliance on these forward-looking statements. The Company undertakes no
obligation to publicly update or revise any forward-looking statements either as a result of new
information, future events or otherwise, except as required by applicable securities laws.
Neither the 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
release.
For further information contact
Patrick Levasseur, President and CEO Tel: (514) 262-9239
Bernard J. Tourillon, Chairman and COO Tel (514) 907-1011
www.beaucegold.com
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/78965