Golden Hope Mines Limited Announces Closing of Non-Brokered Private Placement Financing and Other Matters
Golden Hope Mines Limited Announces Closing of Non-Brokered Private Placement
Financing and Other Matters
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
TSXV: GNH
FRANKFURT: 6G01
OTCBB: GOLHF
(via Thenewswire.ca)
TheNewswire / June 10, 2019 - Golden Hope Mines Lim ited, TSX-V: GNH; (the "Company" or "Golden
Hope") is pleased to announce that it has closed the non-brokered private placement announced on May
23, 2019. The Company has issued 6,200,000 units at a price of $0.06 per unit, for gross proceeds of
$372,000. Each unit consists of one common share and a full warrant which entitles its holder to purchase
one common share of the Company at $0.12 for a 36-m onth period after the closing date of the private
placement.
There were no fees paid in connection to this finan cing. Frank Candido, a director of the company
subscribed for $12,000 or 200,000 units.
All the securities issued under the private placeme nt are subject to a mandatory hold-period of four
months plus one day following the closing of the pr ivate placement. The net proceeds of the financing
will be used for business development purposes, [payment of the debt settlement amounts
referenced below][?] and general working capital.
The financing is subject to the final acceptance of the TSX Venture Exchange.
Debt Settlement
Golden Hope also wishes to announce that it has ent ered into a debt settlement agreement with two
creditors (the " Creditors ") pursuant to which the Company will pay $47,000 to the Creditors in full and final
satisfaction of an approximate amount of $157,000 o wing to the Creditors with respect to prior service s
rendered.
In addition, Golden Hope has also entered into a debt settlement agreement with 9132-8757 Quebec Inc.,
a company wholly owned by Frank Candido, President and Director pursuant to which the Company will
pay $34,492.50 in full and final satisfaction of an approximate amount of $114,975 owing with respect to
prior services rendered.
The debt settlement transactions are subject to the final acceptance of the TSX Venture Exchange.
Corporate Name Change to be Voted Upon at the AGM
Golden Hope has recommended that its shareholders v ote FOR and in favour of a name change of the
Company from Golden Hope Mines Limited to Delta Res ources Limited at its Annual General Meeting to
be held on June 28, 2019 to be held at 376 Victoria Avenue, 2nd Floor, Westmount Quebec at 10 AM EST.
New Directors to be Voted Upon at the AGM
Golden Hope has also added two new directors to be elected at its Annual General Meeting. The new
directors are Mr. Andre C. Tessier of Kingston, Ontario and Dr. Kevin B. Heather of La Serena, Chile.
Mr. Tessier is a Professional Engineer and Geologis t, involved in the mineral exploration and mining
industry since 1989, including 12 years as Director, President and CEO of the publicly traded junior mining
company referred to below.
Mr. Tessier started his career as Exploration Mana ger in Noranda, Quebec for Cominco Ltd. He
subsequently became geological consultant to the in dustry with clients from both the major and junior
sectors in Canada, South and Central America and Ce ntral Asia. In 2003, Mr. Tessier was appointed as
President, CEO and Director of Murgor Resources Inc ., a position he held until 2015. In 2015, Murgor
successfully merged with a Toronto-based junior exp loration company during very challenging market
conditions, obtaining a 50% price premium for Murgo r shareholders. During his tenure at Murgor, the
company raised over $38M through equity financing a nd asset value-creation (i.e. acquisition – value
addition – monetization). Since 2016, Mr. Tessier has been employed by the Ontario Geological Survey
and has been an adjunct Professor at Queen’s University in Kingston since 2018. Mr. Tessier obtained his
Engineering degree at Ecole Polytechnique in Montre al and his MSc in Economic Geology at Queen’s
University in Kingston.
Dr. Heather is an economic geologist with more than 35 years of field experience in North and South
America. Dr. Heather was a founding member of Antar es Minerals, Regulus Resources and Aldebaran
Resources. Dr. Heather directed the exploration tha t led to the discovery of the high-grade Haquira Ea st
deposit in Southern Peru, which sold to First Quant um Minerals in December 2010 for C$650 million. His
professional credentials include a BSc. (honours) degree in Geology from UBC in 1982, a MSc. degree in
Geological Sciences from Queen’s University in 1985 , and a PhD. degree from the University of Keele in
2001. Dr. Heather is currently the Chief Geological Officer (CGO) for both Regulus Resources (TSXV:REG)
and Aldebaran Resources (TSXV:ALDE) and is the Qualified Person (FAUSIMM) responsible at a corporate
level for overseeing the technical aspects of both companies’ exploration activities. During his caree r Dr.
Heather has been involved with several discoveries and has worked on various world-class ore deposits
including the El Indio Au-Ag-Cu Mine (Chile), the P ascua-Lama Au-Ag deposit (Chile-Argentina), and the
Au-Ag Cerro Vanguardia Au-Ag Mine (Patagonia, Argen tina). Dr. Heather also serves as an independent
director of Moneta Porcupine Mines (TSXV:ME) and is the co-founder of Mineros Contra El Cancer, a
Chilean-based charity helping economically vulnerable children with cancer and their families.
The Company wishes to thank retiring directors Michael Dehn and Mark Billings for their contribution to the
Board in a challenging investment climate for the j unior resources sector. Their hard work and dedicat ion
will not be forgotten.
This news release does not constitute an offer to s ell or a solicitation of an offer to buy nor shall there be
any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The securities have not been and will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or the securities laws of any state of the United States and may not be
offered or sold within the United States or to, or for the account or the benefit of, U.S. persons (as defined
in Regulation S under the U.S. Securities Act) unle ss registered under the U.S. Securities Act and
applicable state securities laws or pursuant to an exemption from such registration requirements
ON BEHALF OF THE BOARD OF GOLDEN HOPE MINES LIMITED.
Frank Candido
President, Director
We seek safe harbor. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Excha nge) accepts responsibility for the adequacy or
accuracy of this release. The TSX Venture Exchange has not approved nor disapproved of the
information contained herein.
About Golden Hope Mines Limited
Golden Hope Mines Limited is a mineral exploration company that seeks to grow shareholder value through
the acquisition, exploration and development of gol d and base metal projects suitable for underground
and/or open-pit mining. The Company's focus is curr ently in southeastern Quebec, Canada. The
Company's claim blocks lie within an area that exte nds approximately 100 kilometres along the
Appalachians of southeastern Quebec from near Ste-L ucie-de-Beauregard to about 16 kilometres
southwest of Beauceville. The Bellechasse-Timmins gold deposit lies 5 kilometres southeast of St-Magloire
within the Bellechasse Belt, an approximately 18 kilometre long mineralized area. For further information:
Golden Hope Mines Limited.
www.goldenhopemines.com
Frank Candido, President, Director
Tel : 514-969-5530
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES
Cautionary note regarding forward-looking information
Some statements contained in this news release are “ “forward looking information” within the meaning of
Canadian securities laws. Forward looking information include, but are not limited to, statements regarding
the use of proceeds of the non-brokered private placement and payment of the debt settlements. Generally,
forward-looking information can be identified by th e use of forward-looking terminology such as “plans ”,
“expects”, “is expected”, “budget”, “scheduled”, “e stimates”, “forecasts”, “intends”, “anticipates”, “ believes”
or variations of such words and phrases (including negative or grammatical variations) or statements t hat
certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”
or the negative connotation thereof. Investors are cautioned that forward-looking information is inher ently
uncertain and involves risks, assumptions and uncertainties that could cause actual facts to differ materially.
There can be no assurance that future developments affecting the Company will be those anticipated by
management. The forward-looking information contain ed in this press release constitutes management's
current estimates, as of the date of this press rel ease, with respect to the matters covered thereby. We
expect that these estimates will change as new information is received. While we may elect to update these
estimates at any time, we do not undertake to update any estimate at any particular time or in response to
any particular event.