Getchell Gold Corp. Announces $1,000,000 Financing and Engages Red Cloud Financial Services
CSE: GTCH
OTCQB: GGLDF
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Getchell Gold Corp. Announces $1,000,000 Financing
and Engages Red Cloud Financial Services
Toronto, Ontario – September 14, 2020 – Getchell Gold Corp. (CSE: GTCH ) (OTCQB: GGLDF )
("Getchell" or the "Company") a leading Nevada focused Gold and Copper exploration company
is pleased to announce an offering on a non-brokered private placement basis of up to 2,500,000
units (each a “Unit”) at a price of $0.40 per Unit, for gross proceeds of up to $1,000,000 (the
“Private Placement”), and that it has entered into a corporate services agreement with Red Cloud
Financial Services Inc. (“Red Cloud”).
“The financing will strengthen the Company’s financial position, provide Getchell the critical
ability to pursue its exploration and corporate objectives, and underpin future growth potential.”
states Mike Sieb, President of Getchell Gold Corp., and “We anticipate Red Cloud’s engagement,
at this formative juncture in the Company’s development, will expand the Company’s network
and range of capital opportunities, and facilitate that growth.”
Financing
Each Unit will consist of one common share of the Company and one-half of one common share
purchase warrant. Each whole warrant will entitle the holder to acquire one additional common
share of the Company at a price of $0.60 per share for a period of two years from the date of
closing. The Private Placement may include closing in tranches and multiple closing dates.
The Private Placement will include an up to 25% over -allotment option, exercisable by the
Company, which equates to an additional 625,000 Units and $250,000 (the “Greenshoe”). If the
Greenshoe is fully exercised, the total proceeds of the Private Placement will be an aggregate of
3,125,000 Units and gross proceeds of $1,250,000.
The proceeds from the Private Placement will be used for explora tion of properties and general
working capital. In connection with the Private Placement, the Company may pay finder’s fees.
Closing of the Private Placement is subject to receipt of all necessary corporate and regulatory
approvals, including approval of the Canadian Securities Exchange. The securities issued
pursuant to the Private Placement will be subject to a statutory hold period in accordance with
applicable securities laws.
The securities offered have not been and will not be registered under the United States Securities
Act of 1933, as amended, and may not be offered or sold in the United States absent registration
or applicable exemption from the registration requirements.
CSE: GTCH
OTCQB: GGLDF
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Red Cloud Services Agreement
The Company reports that it has retained Red Cloud, a Toronto-based resource-focused financial
services platform which offers clients an extensive array of corporate access services including
marketing, media, and online support.
The Agreement with Red Cloud is for an initial six-month period until February 17, 2021 (“Initial
Period”) and automatically renews month -to-month thereafter. Under the engagement, the
Company will issue 180,300 shares in consideration for the Initial Per iod and Red Cloud will be
paid a fee of $10,000 per month for services it will render to the Company subsequent to the
Initial Period. The shares issued under the initial engagement will be subject to a four-month and
one day hold period from the date of grant.
About Getchell Gold Corp.
The Company is a Nevada focused gold and copper exploration company trading on the CSE:
GTCH and OTCQB: GGLDF. Getchell Gold is primarily directing its efforts on its most advanced
stage asset, Fondaway Canyon, a past gold producer with a significant in -the-ground historic
resource estimate. Complementing Getchell’s asset portfolio is Dixie Comstock, a past gold
producer with a historic resource and two earlier stage exploration projects, Star Point and Hot
Springs Pea k. Getchell has the option to acquire 100% of the Fondaway Canyon and Dixie
Comstock properties, Churchill County, Nevada.
The Company reiterates that its near -term strategy to advance its assets is not impacted by the
COVID-19 Corona virus. The Company c ontinues to monitor the situation and is in compliance
with all government guidelines.
For further information please visit the Company’s website at www.getchellgold.com or contact
the Company at [email protected].
Mr. William Wagener, Chairman & CEO
Getchell Gold Corp.
+1 303 517 8764
The Canadian Securities Exchange has not reviewed this press release and does not accept respo nsibility
for the adequacy or accuracy of this news release. Not for distribution to U.S. news wire services or
dissemination in the United States.
Certain information contained herein constitutes “forward-looking information” under Canadian securities
legislation. Forward-looking information includes, but is not limited to, statements with respect to the
private placement and the completion thereof a nd the use of proceeds. Generally, forward -looking
CSE: GTCH
OTCQB: GGLDF
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information can be identified by the use of forward-looking terminology such as “will” or variations of such
words and phrases or statements that certain actions, events or results “will” occur. Forward -looking
statements are based on the opinions and estimates of management as of the date such statements are
made and they are subject to known and unknown risks, uncertainties and other factors that may cause
the actual results to be materially different fro m those expressed or implied by such forward -looking
statements or forward -looking information, including: the receipt of all necessary regulatory approvals,
use of proceeds from the financing, capital expenditures and other costs, and financing and additi onal
capital requirements. Although management of Getchell have attempted to identify important factors that
could cause actual results to differ materially from those contained in forward -looking statements or
forward-looking information, there may be oth er factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements and forward-looking information.
The Company will not update any forward -looking statements or forward -looking information that are
incorporated by reference herein, except as required by applicable securities laws.