Golden Rapture Mining Corporation – Closes Financing From Equity Facility
Golden Rapture Mining Corporation – Closes Financing From Equity Facility
Edmonton, AB, 27, 2024 – Golden Rapture Mining Corporation (CSE: GLDR) ("Golden Rapture Mining",
the "Company") a mining company focused on gold projects is pleased to announce that it has recently
leveraged its non-revolving equity drawdown facility with Crescita Capital LLC (“Crescita Capital”). The
Company has drawn down CA$ 150,000 from this facility, resulting in the issuance of a total of 882,353
Common shares at $0.17 per common share. Proceeds from the abovementioned draw from Crescita
Capital will be used to fund general and administrative expenses. The closing date of this transaction is
September 27, 2024.
Original Equity Draw Down Agreement Terms On March 10, 2023, the Issuer entered into the
Investment and Advisory Agreement (the “Agreement”) with Crescita pursuant to which Crescita will (a)
provide certain advisory services (the "Advisory Services") to the Issuer, and (b) make available to the
Issuer a non-revolving equity drawdown facility in the aggregate amount of up to $5,000,000 (the
"Funding Commitment"). The Funding Commitment is for an aggregate amount of $5,000,000 and the
Issuer will have three years to utilize the $5,000,000 to expand and develop its assets. The Agreement is
disclosed in our prospectus dated December 14, 2023 available on SEDAR+.
In addition, the Issuer may use the Funding Commitment as security, with the consent of Crescita, to
secure additional financing avenues if it so chooses. Upon listing of the Issuer’s Common Shares and
under the terms of the Investment and Advisory Agreement, the Issuer can immediately start drawing
down funds from the $5,000,000 Funding Commitment during the three year term at the Issuer's
discretion by providing a notice to Crescita ("Drawdown Notice"). In return for each Drawdown Notice
funded by Crescita, the Issuer will allot and issue fully paid Common Shares to Crescita (each, a "Private
Placement"). The Common Shares issued in connection with any Private Placement will be priced at 90%
of the average closing bid price resulting from the following ten days of trading after the Drawdown
Notice ("Pricing Period").
As of the date of this press release, the number of issued and outstanding Common Shares of the
Company is 25,229,224 Common Shares, following this transaction. The common shares of the
Company were listed on the Canadian Securities Exchange on March 8, 2024, began trading on March
12, 2024 under the symbol "GLDR".
No compensation or finders fees were payable pursuant to this financing transaction. There was no
insider participation in this financing transaction, with no new insider control position created, nor any
materially affect on control of the Company.
About Golden Rapture Mining
Golden Rapture Mining is a well-funded exploration company engaged in the acquisition, exploration,
and development of high-potential assets located in favorable, established Tier 1 mining jurisdictions
being the Rainy River and Geraldton areas of NW Ontario, Canada.
On behalf of the Board
Richard Rivet,
President & CEO
Email: [email protected]
Phone: 780-729-5395
For more info please look at our website at https://goldenrapturemining.com/
Forward-looking statements include predictions, projections, and forecasts and are often, but not always, identified by the use
of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”, “potential”, “project”, “target”,
“schedule”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or
be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical
fact included in this release, including, without limitation, statements regarding the Company’s planned exploration programs
and drill programs and potential significance of results are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of
material factors and assumptions. Important factors that could cause actual results to differ materially from Company’s
expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future
resource estimates, future metal prices, availability of capital, and financing on acceptable terms, general economic, market or
business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials, and equipment on
a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental
impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in
the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors
that could cause actual actions, events, or results to differ from those described in forward-looking statements, there may be
other factors that cause such actions, events, or results to differ materially from those anticipated. There can be no assurance
that forward-looking statements will prove to be accurate, and accordingly readers are cautioned not to place undue reliance
on forward-looking statements.