Standard & Poor’s Listed
12g3-2(b): 82-4000
Standard & Poor’s Listed
TSX Venture Exchange: GLB
OTC: GLBKF
September 20, 2022
GOLDBANK CLOSES $2,100,000 PRIVATE PLACEMENT
Goldbank Mining Corporation (“Goldbank”)(TSX.V-GLB) has closed its previously announced private
placement of 30,000,000 units at $0.07 per unit for proceeds of $2,100,000. Each unit is comprised
of one common share and one five-year transferable warrant with each warrant entitling the holder to
purchase one additional share at a price of $0. 095 per share. $450,000 was issued on a flow -
through basis. The flow-through shares comprising the 6,428,569 flow-through units and 6,428,569
flow-through shares issuable u pon 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).
Participation by four insiders of Goldbank, for 18,428,572 units or $1,290,000, comprising 61.4% of
the total amount raised, constitutes 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 cap italization of Goldbank, as determined in
accordance with MI 61 -101. Goldbank’s board of directors and specifically 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 Ve nture Exchange. The units are restricted from trading until
January 21, 2023.
Goldbank Mining Corporation is 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 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.