Element79 Gold Corp Announces Non-Brokered Private Placement
Element79 Gold Corp Announces Non-Brokered Private Placement
VANCOUVER, BC – July 3, 2024 – Element 79 Gold Corp . (CSE:ELEM) (OTC:ELMGF) (FSE:7YS) ("Element
79 Gold" or “(ELEM) a mining company focused on the production of gold and silver in Peru , announces
that the Company wishes to raise up to $250,000 through a non-brokered private placement of units of
the Company (each a “ Unit”) at a purchase price of $0.23 per Unit (the “Financing”). 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.
James Tworek notes that “We had several interested investors and business partners that were not able
to be accommodated in the last round of financing and we are pleased to be able to have them participate
in this round.”
The proceeds of the Financing will be used for funding mineral lease fees, ongoing community relations,
contractual and exploration work in Peru, and general working capital.
In accordance with applicable Canadian securities laws, all securities issued pursuant to the Financing will
be subject to a statutory hold period of four months and one day from the date of issuance. The closing
of the Financing is subject to the approval of the Canadian Securities Exchange.
The securities of the Company referred to in this press release have not been and will not be registered
under the United States Securities Act of 1933, as amended (the “ U.S. Securities Act ”), or any state
securities laws. Accordingly, the securities of the Company may not be offered or sold within the United
States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to
an exemption from the registration requirements of the U.S. Securities Act and applicable state securities
laws. This press release does not constitute an offer to sell or a solicitation of any offer to buy any
securities of the Company in any jurisdiction in which such an offer, solicitation or sale would be unlawful.
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 prospects 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.