Element79 Gold Announces Closing of Oversubscribed First Tranche of Private Placement
ELEMENT79 GOLD CORP ANNOUNCES
CLOSING OF OVERSUBSCRIBED FIRST TRANCHE OF PRIVATE PLACEMENT
Vancouver, British Columbia, July 12 , 2024 - Further to the Corporation ’s previous Financing
announcement released on July 3, 2024 , Element79 Gold Corp (the "Company") (CSE: ELEM) (OTC:
ELMGF) (FSE: 7YS0) is pleased to announce the successful completion of its first tranche of its placement
for $288,815 of funding through its Non-Brokered Private placement. This tranche of closing will see the
Company issue a total of 1,255,717 Units for this tranche.
The Placement consist s of Units of the Company (each a “Unit”) at a purchase price of $0.23 per Unit .
Each Unit will be comprised of one common share of the Company (a “Common Share”) and one common
share purchase warrant (each a “Warrant”). Each Warrant will be exercisable for one Common Share at a
price of $0.35 per Common Share for four (4) years from the date of issuance. All securities issued for
the placement will be subject to a four month and one day hold from the date of issue, keeping with CSE
regulations.
The warrants are subject to an acceleration clause whereby should the shares of the Company trade at or
above $0.40 per share on the North American stock exchange on which it is then listed for ten consecutive
trading days (after the date that is four months and one day from the closing of the Offering) the warrants
may be accelerated.
Element79 shall continue to seek funds, anticipating closing its final tranche of up to an aggerate of
$450,000 within the following two weeks.
About Element79 Gold Corp
Element79 Gold is a mining company focused on gold and silver committed to maximizing shareholder
value through responsible mining practices and sustainable development of its projects. Element79
Gold's focus is on developing its past -producing, high -grade gold and silver mine, the Lucero project
located in Arequipa, Peru, with the intent to restart production beginning in 2024.
The Company also holds a portfolio of 5 properties along the Battle Mountain trend in Nevada, with the
Clover and West Whistler projects believed to have significant potential for near -term resource
development. Three properties in the Battle Mountain Port folio are under contract for sale to Valdo
Minerals Ltd., with an anticipated closing date in 2024.
The Company, through its subsidiary, Synergy Metals Corp., holds an option to acquire a 100% interest in
the Dale Property, 90 unpatented mining claims located approximately 100 km southwest of Timmins,
Ontario, and is advancing through the Plan of Arrangement spin-out process.
For more information about the Company, please visit www.element79.gold
Contact Information
For corporate matters, please contact:
James C. Tworek, Chief Executive Officer
E-mail: [email protected]
For investor relations inquiries, please contact:
Investor Relations Department
Phone: +1.403.850.8050
E-mail: [email protected]
Cautionary Note Regarding Forward Looking Statements
This press contains "forward‐looking information" and "forward -looking statements" under applicable
securities laws (collectively, "forward‐looking statements"). These statements relate to future events or
the Company's future performance, business prospec ts or opportunities that are based on forecasts of
future results, estimates of amounts not yet determinable and assumptions of management made
considering management's experience and perception of historical trends, current conditions and
expected future developments. Forward-looking statements include, but are not limited to, statements
with respect to: the Company's business strategy; future planning processes; exploration activities; the
timing and result of exploration activities; capital projects and exploration activities and the possible
results thereof; acquisition opportunities; and the impact of acquisitions, if any, on the Company.
Assumptions may prove to be incorrect and actual results may differ materially from those anticipated.
Consequently, forward-looking statements cannot be guaranteed. As such, investors are cautioned not to
place undue reliance upon forward -looking statements as there can be no assurance that the plans,
assumptions or expectations upon which they are placed will occur. All statements other than statements
of historical fact may be forward‐looking statements. Any statements that express or involve discussions
with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or
performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan",
"continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target",
"intend", "could", "might", "should", "believe" and similar expre ssions) are not statements of historical
fact and may be "forward‐looking statements".
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies
of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.