Standard & Poor’s Listed
12G3-2(b): 82-4000
Standard & Poor’s Listed
TSX Venture Exchange: GLB
OTC: GLBKF
October 4, 2019
FINANCING CLOSED
Goldbank Mining Corporation (“Goldbank”)(TSX.V-GLB) has closed its previously announced private
placement as to 4,030,000 units at $0.10 per unit for proceeds of $403,000. Each unit is comprised
of one common share and one three-year transferable warrant with each warrant entitling the holder
to purchase one additional share at a price of $0. 12 per share. $233,000 was issued on a flow -
through basis. The flow-through shares comprising the 2,330,000 flow-through units and 2,330,000
flow-through shares issuable upon exercise of the warrants comprising the flow -through units will
entitle holder s to receive the tax be nefits applicable to flow -through shares in accordance with
provisions of the Income Tax Act (Canada).
Participation by three insiders of Goldbank, for 3,200,000 units or $320,000, comprising 79.4% of the
total amount raised, constitute s a related party transaction within the meaning of TSX Venture
Exchange Policy 5.9 and Multilateral 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 and specifi cally the independent
members of the board, as applicable, reviewed and approved the private placement subscriptions by
the insiders. 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.
The flow-through proceeds will be used for exploration on Goldbank’s Leota Gold Project in the
famous Klondike Goldfields near Dawson City in the Yukon Territory, Canada. Non-flow-through
proceeds will be used for working capital and existing liabilities. The terms of the financing have
been accepted for filing by the TSX Venture Exchange. The units are restricted from trading until
February 4, 2020.
Goldbank Mining Corporation i s a Canadian exploration company actively exploring for gold in the
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 o r mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in
documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of
mineral deposits o n 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.