GoldON Increases 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 Increases 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 21, 2022 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON”
or the “Company”) is pleased to announce an increase in the non-brokered private placement
financing previously announced on December 14, 2022, from up to $400,000 to $529,000 in gross
proceeds (the “Offering”).
The Offering will now consist of 3,041,668 flow-through units (“FT Units”) and 1,640,000 non-
flow-through units (the “NFT Units”). The FT Units are priced at $0.12 and consist of one flow-
through share and one non-transferable share purch ase warrant that will entitle the holder to
purchase one common share of the Company at $0.20 for twelve (12) months from the closing date
of the Offering. The NFT Units are 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 $0.20 per share for twenty-fo ur (24) months from the 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 Offering proceeds. Finders’ warrants associated with the FT Units will entitle the
holder to purchase one common share of the Company at $0.20 for twelve months from the closing
date. Finders’ warrants associated with the NF T Units will entitle the holder to purchase one
common share of the Company at $0.20 for twenty-four months from the closing date. All
securities issued pursuant to this Offering 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.
The Company will rely on subsecti ons 5.5(b) and 5.7(1)(a) of Multilateral Instrument 61-101 to
exempt the offering from the requirements for a formal valuation and minority shareholder approval.
To the Company’s knowledge, neither it nor the purchasers have knowledge of any material
information concerning the Company or its securities that has not been generally disclosed.
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 in the Red Lake Mining District (McDonough, Spri ngpole East, Red Lake North,
Pipestone Bay, Pakwash North, McInnes Lake, and West Madsen) and an eighth property 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.