Goldplay Closes First Tranche of Private Placement
Goldplay Closes First Tranche of Private
Placement
VANCOUVER
,
Dec. 4, 2018
/CNW/ -
Goldplay
Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF)
("Goldplay" or the "Company")
, is pleased to announce that the Company has closed the first tranche of its
non-brokered private placement (the "
Offering
") previously announced on
November 19, 2018
and has issued
5,573,834 units for gross proceeds of
$1,226,243.48
.
In connection with this closing, the Company paid finder's fees totaling
$47,653.93
cash and issued a total of
216,608 finder's warrants. Each finder's warrant is exercisable for one common share at a price of
$0.25
/share for two years, provided that after the four month hold period expires, if for 10 consecutive days
the closing price of the Company's shares on the TSX-V exceeds
$0.65
, then the Company may anytime
thereafter accelerate the expiry date of the Warrants to the date that is 10 days following the date on which
the Company issues notice of the new expiry date.
All securities issued under this private placement are subject to a four month and one day hold period in
accordance with applicable securities laws and the policies of the TSX Venture Exchange.
Marcio Fonseca
, President of the Company stated: "We are very pleased to have completed the first tranche
of the private placement and we expect the final closing of the private placement this week".
About Goldplay Exploration Ltd
.
Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Mining District,
Sinaloa, Mexico
.
Goldplay's current exploration focus includes surface exploration and drilling, with a resource update to follow
at the advanced-stage San Marcial Project and follow up exploration program at the El Habal Project.
The San Marcial land package consists of 1,250 ha, located south of the
La Rastra
and Plomosas historical
mines and 20 km from the Company's 100% owned El Habal Project in the Rosario Mining District,
Sinaloa,
Mexico
. San Marcial is an attractive, near-surface high-grade silver, lead and zinc project for which a
historical resource estimate has been previously disclosed.
San Marcial exhibits significant exploration upside supported by regional exploration programs completed by
previous operators who identified 14 exploration targets similar to San Marcial within its 100% Goldplay-
owned concessions. Some of these exploration targets consist of old shallow pits, caved shafts and historical
underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures.
The El Habal Project is a drilling stage project. The oxidized gold mineralized zone outcrops along a series of
rolling hills with evidence of historical shallow underground mining along a 6 km long prospective corridor. The
El Habal Project is located near the historical gold-silver Rosario Mine which reportedly operated for over 250
years. Goldplay's team has over 30 years of experience with senior roles in exploration, financing, and
development in the mining industry, including over ten years of extensive exploration experience in the Rosario
Mining District, leading to previous successful discoveries. A current NI 43-101 report on the El Habal Project
is filed on SEDAR.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and information that are based on the beliefs of
management and reflect the Company's current expectations. When used in this press release, the words
"estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the
negative of these words or such variations thereon or comparable terminology are intended to identify
forward-looking statements and information. Such statements and information reflect the current view of the
Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in
those forward-looking statements and information. By their nature, forward-looking statements involve
known and unknown risks, uncertainties and other factors which may cause our actual results, performance
or
achievements, or other future events, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
THE FORWARD-LOOKING
INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE
COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO
CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON
FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF
ANY OTHER DATE. WHILE GOLDPLAY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE
THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH
APPLICABLE LAWS.
Mr.
Marcio Fonseca
,
P. Geo, President & CEO
Goldplay Exploration Ltd.
Neither the 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 press
release.
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SOURCE
Goldplay Exploration Ltd
View original content:
http://www.newswire.ca/en/releases/archive/December2018/04/c1829.html
%SEDAR: 00040149E
For further information:
+1 (604) 202 31 55, Email: [email protected], Website:
www.goldplayexploration.com, 999 West Hastings Street, Suite 900, Vancouver, British Columbia V6C 2W2
CO: Goldplay Exploration Ltd
CNW 08:00e 04-DEC-18