Goldplay Closes Over-Subscribed Private Placement
Goldplay Closes Over-Subscribed Private
Placement
VANCOUVER
,
June 24, 2019
/CNW/ -
Goldplay Exploration Ltd. (TSXV: GPLY,
FRANKFURT
:
GPE, OTCQB: GLYXF) ("Goldplay" or the "Company")
, is pleased to announce that it has closed
its over-subscribed financing previously announced on
June 17, 2019
and
June 20, 2019
, and issued
10,010,000 common shares for gross proceeds of
$1,376,250
.
In connection with this financing, the Company paid a total of
$28,875
and issued a total of 231,000
warrants as finder's fees (
$13,500
and 108,000 warrants to Leede Jones Gable Inc.;
$12,000
and
96,000 warrants to Raymond James Ltd.;
$2,250
and 18,000 warrants to Haywood Securities Inc.;
and
$750
and 6,000 warrants to PI Financial Corp.). Each finder's warrant is exercisable for one
common share at a price of
$0.15
/share for three 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 is
at least
$0.40
, 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 hold period expiring
October 25,
2019
in accordance with applicable securities laws and the policies of the TSX-V.
Marcio Fonseca
, President of the Company stated: "We are very pleased to have completed the
over-subscribed private placement and look forward to the upcoming exploration program and
resource expansion on the Company's San Marcial property".
Goldplay has also received TSX-V approval to the debt settlements previously announced on
June 17, 2019 and consequently has issued 600,000 common shares to settle an aggregate debt of
$75,000
. All securities issued in conjunction with the debt settlements are subject to a hold period
expiring
October 25, 2019
in accordance with applicable securities laws and the policies of the TSX-
V.
About Goldplay Exploration Ltd
.
Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Au-Ag Mining District,
Sinaloa, Mexico
. Goldplay's current focus includes resource expansion and exploration at the San
Marcial Project, as well as a 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 in the Rosario Mining District,
Sinaloa, Mexico
. San Marcial is an attractive, near-
surface high-grade silver,gold, lead and zinc open pit project for which a NI 43-101 resource
estimate was completed by Goldplay in early 2019 (
See News Release dated
February 7, 2019
). It
is a resource in expansion and development stage project, fully permitted for all exploration
activities and with support and authorization by local communities to carry out all necessary work on
the project. San Marcial exhibits significant exploration and resource expansion upside supported by
regional exploration programs recently completed by Goldplay along 6 km mineralized trend with
identification of 8 new Au-Ag exploration targets. 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. A current NI 43-101 report on the San Marcial
Project is filed on SEDAR.
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.
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.
SOURCE
Goldplay Exploration Ltd
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For further information:
+1 (604) 202 3155, Email: [email protected]
CO: Goldplay Exploration Ltd
CNW 16:15e 24-JUN-19