Golden Rapture Mining Provides Capitalization Update – Intends to Draw From Equity Facility
Golden Rapture Mining Provides
Capitalization Update – Intends to
Draw From Equity Facility
Edmonton, AB, August 14, 202 4 – 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 intends to draw down CA$ 25,000 from this facility, resulting in the issuance of a total of
200,000 Common shares at $0.125 per common share. Proceeds from the abovementioned draw from
Crescita Capital will be used to fund general and administrative expenses. The Company intends to close
this financing transaction immediately upon approval of the CSE.
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 Agreeme nt, 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 24,146,871 Common Shares. 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.
Our second property includes the past-producing Hutchison/Maylac Gold Mine located in the Geraldton
Gold Camp, NW Ontario. It was one of the richest mines in the area and was mined underground on and
off from 1937 to 1947. The highest historical drill inte rsection included drill results as high as 24.16
oz/t/gold. The property has only seen shallow drilling and was only mined to a depth of around 400ft and
lies in the shadows of the new Greenstone/Equinox Gold Mine. We would entertain a JV with the right
partner.
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/
For investor relations inquiries, please contact:
Marketsmart Communications Inc.
+1-877-261-4466
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, fut ure
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 filing s
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, ev ents, 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.