Goldhills Holding Ltd Closes Private Placement and Updates Claim Package ON Lennac Lake
GOLDHILLS HOLDING LTD CLOSES PRIVATE PLACEMENT AND UPDATES CLAIM PACKAGE
ON LENNAC LAKE
Vancouver, BC/ May 17, 2024 Goldhills Holding Ltd. (TSX-V:GHL OTCQB: GODZF. GRYA: Frankfurt
)(“Goldhills” or the "Company") is pleased to announce that it has closed its previously announced private
placement offering (the “Offering”) issuing 6,700,0 00 common shares at a price of $0.05 per share for
total proceeds of $335,000. (see press releases dated May 2, 2024 and May 10, 2024).
The proceeds of the offering will be used for mineral exploration and general working capital purposes.
Insiders participated purchasing 1,000,000 shares. The Insider Participation is exempt from the formal
valuation and minority shareholder approval require ments of MI 61-101 by virtue of the exemption
contained in section 5.5(b) as the Company’s shares are not listed on a specified market and from the
minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section
5.7(a) of MI 61-101 in that the fair market value of the consideration of the securities issued to the related
parties did not exceed 25% of the Company’s market capitalization.
All Common Shares issued pursuant to the Offering a re subject to a four ‐month statutory hold period.
The net proceeds of the Offering will be used for general working capital purposes.
Update to Lennac Lake
The Company would like to clarify that under its pr eviously announced option agreement (the “Option
Agreement”) with Donald MacIntyre and Victor Parson s the Company was granted an option to acquire
three contiguous mineral claims, not eight claims as previously disclosed (see press release dated May
2, 2024). In addition, the Company has staked 4 ad ditional claims expanding the Lennac Lake Project
by 1325.67 hectares bringing the total project size to 7 claims totaling 2,296.567 hectares.
Investment by Steven Sangha
As described above, Sangha, of 10460 Granville Ave, Richmond BC V6Y 1R4, acquired 1,000,000
common shares for consideration of $50,000 pursuant to the Offering.
Immediately prior to the closing of the Offering, S angha beneficially owned or controlled 2,185,507
Shares of the Company, which represented approximately 9.43% of the issued and outstanding Shares
on a non-diluted basis and on a partially diluted basis.
Immediately following the closing of the Offering, Sangha beneficially owns or controls 3,185,507 Shares,
representing approximately 10.67% of the issued and outstanding Shares on a non-diluted basis and on
a partially diluted basis.
The securities of the Company held by Sangha are he ld for investment purposes. Sangha has a long-
term view of the investment and may acquire additio nal securities of the Company either on the open
market, through private acquisitions or as compensa tion or sell the securities on the open market or
through private dispositions in the future depending on market conditions, general economic and industry
conditions, the Company’s business and financial condition, reformulation of plans and/or other relevant
factors.
A copy of Sangha’s early warning report will appear on the Company’s profile on SEDAR+ and may also
be requested by mail at BlockchainK2 Corp., 400 - 8 37 West Hastings St., Vancouver, BC V6C 3N6,
Attention: Sergei Stetsenko or phone at (604) 630-8746 .
Goldhills Resources Ltd.
Sergei Stetsenko
CEO and Director
Phone: +971502806737
http://goldhills.co/
Neither 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.
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news r elease contains certain “forward-looking informatio n” within the
meaning of applicable securities law. Forward-looki ng information is frequently characterized by words such as
“plan”, “expect”, “project”, “intend”, “believe”, “ anticipate”, “estimate” and other similar words, or statements that
certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinio ns and
estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results t o differ materially from those anticipated in the f orward-looking
statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSX-
V. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control.
There are no assurances that the business plans for the Company as described in this news release will come into
effect on the terms or time frame described herein. The Company undertakes no obligation to update for ward-
looking information if circumstances or management’ s estimates or opinions should change except as req uired by
law. The reader is cautioned not to place undue rel iance on forward-looking statements. Additional inf ormation
identifying risks and uncertainties that could affe ct financial results is contained in the Company’s filings with
Canadian securities regulators, which are available at www.sedar.com .