Standard & Poor’s Listed
12g3-2(b): 82-4000
Standard & Poor’s Listed
TSX Venture Exchange: GLB
OTC: GLBKF
October 19, 2023
BALANCE OF $1,500,000 FINANCING CLOSED
Goldbank Mining Corporation (“Goldbank”)(TSX.V-GLB) is pleased to announce it has closed the
final $1,337,500 tranche of its previously announced financing by issuing 26,750,000 units at $0.05
per unit. Each unit is one common share and one five-year transferable warrant. Each warrant is
exercisable for one share at $0.065 per share. $1,287,500 was issued on a flow -through basis.
Flow-through shares , including shares issuable on exercise of the warrants comprising the flow -
through units , will entitle holders to receive the tax benefits applicable to flow -through shares in
accordance with provisions of the Income Tax Act (Canada).
Mr. Anthony Beruschi, a control person of Goldbank, acquired 25,000,000 units for $1,250,000,
comprising 83.3% of the financing, constituting a related party transaction within the meaning of TSX
Venture Exchange Policy 5.9 and Mul tilateral Instrument 61 -101 Protection of Minority Security
Holders in Special Transactions (“MI 61-101”). Goldbank is relying on the exemptions contained in
sections 5.5(a) and section 5.7(1)(a) as the fair market value of the participation in the private
placement by the insiders does not exceed 25 per cent of the market capitalization of Goldbank, as
determined in accordance with MI 61-101. Goldbank’s board of directors reviewed and approved the
private placement subscription by Mr. Beruschi. Goldbank did not file a material change report in
respect of the related party transaction at least 21 days before closing of the private placement as
the date of closing was not previously known.
Proceeds will be used for exploration and development of Goldbank’s Klondike gold properties
including costs related thereto, debt payments and working capital. The terms of the financing have
been accepted for filing by the TSX Venture Exchange. The units are restricted from trading unti l
February 20, 2024.
Goldbank Mining Corporation is a Canadian exploration company actively exploring for gold in the
historic Klondike Goldfields near Dawson City, Yukon, Canada.
For further information please e-mail [email protected].
GOLDBANK MINING CORPORATION
PER: “James Boyce” Suite 702 – 889 West Pender Street
Vancouver, BC CANADA V6C 3B2
JAMES BOYCE Telephone: 604.683.3288
President & CEO Toll Free: 1.888.880.2288 Email: [email protected]
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.
Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no
right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this typ e in
documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of
mineral deposits on our properties. This news release may contain forward -looking statements including but not limited to
comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles,
potential mineral recovery processes, etc. Forward -looking statements address future events and conditions and therefore
involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.