Goldcliff Closes Fifth and Final Tranche of Financing
www.goldcliff.com
#400 – 789 W. Pender St.
Vancouver, B.C. V6C 1H2
Phone: 250-764-8879
Toll Free: 866-769-4802
GCN.TSXV www.directroyalty.com [email protected]
September 24, 2019
GOLDCLIFF CLOSES FIFTH AND FINAL TRANCHE OF FINANCING
Vancouver, B.C. – Goldcliff Resource Corporation (“Goldcliff” or the “Company”) (GCN: TSX.V,
GCFFF: OTCBB PINKS) is pleased to announce that the Company has completed a fifth tranche
and final closing of its previously announced (Goldcliff News Release dated July 29, 2019) Non-
Brokered Private Placement of up to 10,000,000 Units at a price of $0.10 per Unit.
At the closing of the fifth tranche on September 24, 2019, the Company issued 2,005,000 Units for
gross proceeds of $200,500. Each Unit consists of one common share and one half of one
common share purchase warrant. Each whole warrant will entitle the holder to purchase one
additional common share at a price of $0.20 per share for a period of two years from the date of
closing. Goldcliff has the right to accelerate the expiry date of the warrants to 30 days if the closing
price for Goldcliff shares is at least $0.40 for 20 consecutive trading days.
The Company paid finders’ fees totalling $11,795 in cash and issued 117,950 finders’ warrants in
connection with the Private Placement of Units. Each finder’s warrant entitles the holder to
purchase one common share at a price of $0.20 per share for a period of two years from the date
of closing. All securities issued pursuant to the Private Placement are subject to a statutory hold
period of four months plus one day from the date of issuance, in accordance with applicable
securities legislation.
With this fifth and final closing Goldcliff has completed the issuance of 8,912,700 Units for gross
proceeds of $891,270. Total cash finders’ fees of $38,098.90 were paid and 380,989 finder
Warrants were issued. Proceeds will be applied to both surface and underground mapping and
sampling of the Nevada Rand project, to an initial drill program at Nevada Rand, and to working
capital.
Goldcliff also earlier closed a Non-Brokered Private Placement of 600,000 Flow Through shares for
gross proceeds of $72,000. A cash finders’ fee of $2,352.00 was paid and 23,520 finder Warrants
were issued.
For further information, please contact George W. Sanders, President, at 250-764-8879, toll free at
1-866-769-4802 or email at [email protected].
GOLDCLIFF RESOURCE CORPORATION
Per: “George W. Sanders”
George W. Sanders, President
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accept
responsibility for the adequacy or the accuracy of this news release.