GoldON Arranges Private Placement Financing Flow-Through proceeds will be used for winter exploration drilling at the 100%- owned McDonough Gold Property in Red Lake, Ontario
FOR IMMEDIATE RELEASE
GoldON Arranges Private Placement Financing
Flow-Through proceeds will be used for winter exploration drilling at the 100%-
owned McDonough Gold Property in Red Lake, Ontario
VICTORIA, BC – December 14, 2022 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON”
or the “Company”) is arranging a non-broke red private placement fi nancing of up to 2,500,000
flow-through units (the “FT Units”) and 1,000,000 non-flow-through units (the “NFT Units) with
qualified investors for maximum gross proceeds of $400,000 (the “Offering”).
The FT Units will be priced at $0.12 and c onsist of one flow-through share and one non-
transferable share purchase warran t that will entitle the holder to purchase one common share of
the Company at a price of $0.20 for twelve (12) months from the closing date of the Offering.
The NFT Units will be priced at $0.10 and consist of one common share and one non-transferable
share purchase warrant that will entitle the holder to purchase one additional common share of the
Company at a price of $0.20 per share for twenty-f our (24) months from th e closing date of the
Offering.
The Company has agreed to pay a finder’s fee of up to 6% cash and 6% finders’ warrants on a
portion of the subscription proceeds. Finders’ warrants associated with the FT Units will entitle the
holder to purchase one common share of the Company at a price of $0.20 for twelve months from
the closing date. Finders’ warrants associated with the NFT Units will entitle the holder to purchase
one common share of the Company at a price of $0.20 for twenty-four months from the closing
date. All securities issued pursuant to this O ffering will have a hold period expiring four months
after the closing date.
The Company will use the proceeds of the Offering to fund its initial drilling program at the 100%-
owned McDonough Gold Property and for general working capital purposes.
Completion of this Offering is subject to TSX Venture Exchange acceptance.
About GoldON Resources Ltd.
GoldON is an exploration compan y focused on discovery-stage prop erties located in the prolific
gold mining belts of northwestern Ontario, Canada . Our current project portfolio includes seven
properties located in the Red Lake Mining District (McDonough, Springpole East, Red Lake North,
Pipestone Bay, Pakwash North, McInnes Lake, and West Madsen) and an eighth property located
in the Patricia Mining District (Slate Falls).
For additional information, please visit our website at goldonresources.com; you can download
our latest investor presentation by clicking here and follow us on Twitter at
https://twitter.com/GoldONResources.
ON BEHALF OF THE BOARD
Signed “Michael Romanik”
Michael Romanik, President
GoldON Resources Ltd.
Direct line: (204) 724-0613
Email: [email protected]
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release may contain “forwa rd-looking statements” that involve known and unknown risks, uncertainties,
assumptions, and other factors that may cause the actual results, performance, or achievements of the Company to be
materially different from any future results, performance or achievements expressed or implied by the forward-looking
statements. Any forward-lo oking statement speaks only as of the date of this news release and, except as may be
required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking
statement, whether as a result of new information, future events, or results or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.