Kanadario GOLD Inc. Announces Closing of CAD $1.1 Million Private Placement
48783166.1
KANADARIO GOLD INC. ANNOUNCES CLOSING OF
CAD $1.1 MILLION PRIVATE PLACEMENT
Vancouver, British Columbia – September 17, 2020: Kanadario Gold Inc. (TSXV: KANA) (the
“Company” or “Kanadario”) is pleased to announce that it has closed its previously announced
private placement by issuing 11,000,000 common shares at $0.10 per share to certain investors for
total gross proceeds of $1,100,000 (the “Private Placement”).
Life Of Mine Investments Inc. (“LOMI”) subscribed for 4,100,000 common shares for an amount of
$410,000 representing 16.9% of the issued and outstanding common shares on completion of the
Private Placement. LOMI did not own any common shares of the Company before the completion
of the Private Placement.
LOMI has filed an Early Warning Report pursuant to National Instrument 62-103 disclosing that
LOMI acquired the securities for investment purposes and that it may from time to time acquire
additional securities, dispose of some or all of the existing or additional securities or may continue
to hold securities of the Company depending on market and economic conditions, the business and
prospects of the Company and other relevant factors.
Under the subscription agreement between the Company and LOMI, the Company undertook to
cause one person designated by LOMI to be nominated as a director of the Company. LOMI intends
to designate its nominee shortly.
Kanadario intends to use the gross proceeds from the Private Placement for continued exploration
of the Cameron Lake Property and for general working capital purposes. All securities issued
pursuant to the Private Placement are subject to a four-month-and-one-day hold period.
About the Company:
The Company is a mineral exploration company focused on the exploration and development of the
Cameron Lake Property, located in the west-central part of Quebec.
For further information regarding the contents of this news release please contact:
Dominic Verdejo, CEO
Tel: 604-678-5308
Email: [email protected]
A copy of the early warning report may be obtained by contacting:
Life Of Mine Investments Inc.
Attention: Diane Quesnel
7900 Boul. Taschereau, Edifice D, Suite 200
Brossard, QC, J4X 1C2
Tel: 450-465-1950
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Forward Looking Statements: This press release contains “forward -looking information or
statements” within the meaning of Canadian securities laws, which may include, but are not limited
to statements relating to the use of proceeds from the Private Placement and the Company’s future
business plans. All statements in this release, other than statements of historical facts, that address
events or developments that the Company expects to occur, are forward-looking statements.
Forward-looking statements are statements that are not historical facts and are generally, but not
always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”,
“projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”,
“could” or “should” occur. Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results may differ from those in the forward-looking
statements. Such forward-looking information reflects the Company’s views with respect to future
events and is subject to risks, uncertainties and assumptions. The Company does not undertake to
update forward-looking statements or forward-looking information, except as required by law.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.