Gossan Announces Private Placement and Grant of Stock Options
Gossan Announces Private Placement and
Grant of Stock Options
Winnipeg, Manitoba--(Newsfile Corp. - August 17, 2020) -
Gossan Resources Limited
(TSXV: GSS)
& (FSE: GSR) will conduct a non-brokered private placement offering (the "
Offering
") of up to 3,400,000
units ("
Units
") at a purchase price of $0.05 per Unit, for aggregate gross proceeds of up to $170,000.
Each Unit consists of one common share ("
Common Share
") and one-half warrant (a "Warrant"). Each
whole warrant is exercisable to acquire one Common Share at a price of $0.08 for a period of 2 years
from the closing date.
Net proceeds from the Offering will be used for general corporate and working capital purposes. The
Offering is subject to TSX Venture Exchange acceptance of regulatory filings. The common shares
issued under the private placement will have a hold period of four months and one day from the closing
date. The Company may pay finder's fees to eligible persons in accordance with applicable securities
laws and regulatory policies.
The securities being offered have not been, nor will they be, registered under the United States
Securities Act of 1933,
as amended, and may not be offered or sold in the United states or to, or for the
account or benefit of, U.S. persons absent registration or an applicable exemption from the registration
requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful.
Three officers and directors were granted a total of 425,000 stock options exercisable at $0.07
per
share with expiry dates of September 22, 2022 and September 23, 2023. This grant of options was
awarded after the close on August 14, 2020; is in compliance with the terms of the Company's Stock
Option Plan; and remains subject to the acceptance of the TSX Venture Exchange.
Gossan Resources Limited continues to seek new financeable resource projects in Manitoba & Ontario
and throughout North America. The Company has a broadly diversified portfolio of multi-element
properties prospective for hosting base metals and platinum group elements, as well as specialty
"green-battery metals", vanadium, titanium, tantalum, lithium and chromium. Gossan also has a deposit
of high-purity, magnesium-rich dolomite, and holds a $100,000-per-annum advance and production
royalty interest in a silica frac sand deposit. All of Gossan's mineral exploration and development
properties are located in Manitoba and Northwestern Ontario. The Company's current focus is the
exploration of its Sturgeon Lake Property, located in the zinc-copper-silver rich polymetallic Sturgeon
Lake Greenstone Belt of Northwestern Ontario. The Company trades on the TSX Venture and the
Frankfurt/Freiverkehr &Xetra Exchanges and currently has 34,252,900 common shares outstanding.
Neither 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 news release.
For further information, please bookmark
www.gossan.ca
or contact:
Douglas Reeson, Chairman & CEO
Gossan Resources Limited
Tel: (416) 533-9664
E-Mail:
Kathy Ringland, Office Manager
Tel : (204) 943-1990
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/61929