Kanadario GOLD Inc. Completes IPO and Announces Listing ON the TSX Venture Exchange
KANADARIO GOLD INC. COMPLETES IPO AND
ANNOUNCES LISTING ON THE TSX VENTURE EXCHANGE
Vancouver, British Columbia – October 22, 2019: Kanadario Gold Inc. (the “ Company”) is
pleased to announce that the Company has completed its initial public offering (“IPO”) of 5,000,000
common shares of the Company (“Common Shares”) at a price of $0.15 per Common Share for
aggregate gross proceeds of $750,000. The Common Shares were listed on the TSX Venture
Exchange (the “Exchange”) on October 22, 2019 and halted pending completion of the IPO (the
“IPO Closing”). The Common Shares are expected to commence trading on the Exchange on or
about October 24, 2019 under the trading symbol “KANA”.
PI Financial Corp. (the “Agent”) acted as exclusive agent in respect of the IPO on a commercially
reasonable efforts basis. Pursuant to the IPO, the Agent received a cash commission and an
aggregate of 170,000 non-transferable compensation options entitling the Agent to purchase up to
170,000 Common Shares at $0.15 per Common Share at any time until October 22, 2021. The
Agent also received a corporate finance fee.
The net proceeds of the IPO will primarily be used to fund exploration on the Company’s Cameron
Lake Property, consisting of 105 mineral claims owned by the Company covering 5,699.42 hectares
(ha) in two separate claim blocks, located in the west-central part of Quebec. The claims comprising
the Cameron Lake Property are subject to a 2% net smelter return royalty.
Upon the IPO Closing, the Company has 12,650,000 Common Shares issued and outstanding, of
which 1,300,000 Common Shares are subject to escrow, released 10% on the IPO Closing with an
additional 15% released every six months over a 36-month period.
Additional information about the Company, the IPO, and the Cameron Lake Property, can be found
in the Company’s final long form prospectus dated July 25, 2019 as filed on SEDAR at
www.sedar.com.
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]
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 date of first trading in the Company’s common shares and its 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, including those set out in the
Company’s final long form prospectus dated July 25, 2019 and filed under the Company’s profile on
SEDAR at www.sedar.com. 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.