Guardian Exploration Inc.: Update on Proposed Acquisition of Yukon Mining Property
Guardian Exploration Inc.: Update on Proposed
Acquisition of Yukon Mining Property
Calgary, Alberta--(Newsfile Corp. - September 21, 2020) - Guardian Exploration Inc. (TSXV: GX) (the
"
Corporation
") is pleased to provide an update on its proposed acquisition of mining assets located in
the Mayo Mining District in the Yukon known as the Mount Cameron Property (the "
Acquisition
").
In connection with the Acquisition, the Corporation intends to complete a private placement of a
minimum of 6,000,000 Common Shares and a maximum of 10,000,000 Common Shares at a price of
$0.05 per Common Share for total gross proceeds of between $300,000.00 and $500,000.00 (the
"
Private Placement
").
As previously disclosed, the Corporation received conditional approval for the Acquisition from the TSX
Venture Exchange (the "
TSXV
").
The TSXV has provided comments regarding deficiencies on
documentation provided by the Corporation and the Corporation is proceeding to address the
comments.
The approval from the TSXV for the Acquisition has no expiry.
The Corporation will continue
to provide updates on the progress of the transaction.
The Corporation also received conditional approval from the TSXV for the Private Placement; however,
such approval expired on September 3, 2020.
The Corporation has re-applied for approval from the
TSXV.
Approval from the TSXV for the new application is not guaranteed.
The definitive agreement with respect to the Acquisition allows for the termination of the agreement in
the event that the Acquisition does not close by October 31, 2020, unless extended by mutual agreement
of the parties.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Graydon Kowal
President and CEO
(403) 730-6333
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.
Forward Looking Statements:
This press release contains forward-looking statements which
reflect management's expectations regarding the completion of the Acquisition and Private
Placement, the addressing of comments of deficiencies noted by the TSXV and future
applications for approval proposed to be made by the Corporation.
Events or circumstances may cause actual results to differ materially from those predicted as a
result of numerous known and unknown risks, uncertainties, and other factors, many of which
are beyond the control of the Corporation.
The reader is cautioned not to place undue reliance
on any forward-looking information.
Although such information is considered reasonable by
management at the time of preparation, it may prove to be incorrect and actual results may differ
materially from those anticipated.
Forward-looking statements contained in this press release
are expressly qualified by this cautionary statement.
The forward-looking statements contained
in this press release are made as of the date of this press release, and the Corporation does not
undertake any obligation to update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events or otherwise, except as
required by securities law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/64313