Highway 50 GOLD Announces Completion of Flow-Through Financing and Non- Flow-Through Financing
NEWS RELEASE
HIGHWAY 50 GOLD ANNOUNCES COMPLETION OF FLOW-THROUGH FINANCING AND NON-
FLOW-THROUGH FINANCING
Vancouver, British Columbia – Highway 50 Gold Corp. (TSX.V – HWY)
September 9, 2019
Highway 50 Gold Corp. (“Highway 50” or the “Company”) is pleased to announce that it has today closed its
previously announced non -brokered private placement and raised gross proc eeds to the Company of
approximately $240,000 (the “FT Offering”) by the issuance of 1,599,998 units (each a “FT Unit”) at a purchase
price of $0.15 per FT Unit. Each FT Unit consists of one common share of the Company issued on a flow-through
basis under the Income Tax Act (Canada) and one-half of one non-flow-through common share purchase warrant
(each whole warrant, a “FT Warrant”). Each FT Warrant entitles the holder to purchase one non-flow-through
common share of the Company at a purchase price of $0.20 per share until September 9, 2021. The proceeds of
the FT Offering will be used to re-commence drilling on the Monroe property located in southwestern British
Columbia. Drilling will include testing the extensions of the lead-zinc system intersected in 2016 to 2018 drilling.
The target be ing tested is an offset of lead -zinc mineralization and extensive tourmalinite and albite alteration
encountered in holes HWY-17-3 and HWY-18-8. The FT Offering is subject to the final acceptance of the TSX
Venture Exchange (the “Exchange”).
The Company is also pleased to announce that it has today closed its previously announced non-brokered private
placement and raised gross proceeds to the Company of approximately $55,000 (the “Non-FT Offering”) by the
issuance of 366,666 units (each, a “Unit ”) of the Company at a purchase price of $0.15 per Unit. Each Unit
consists of one non- flow-through common share of the Company and one non- flow-through common share
purchase warrant (each, a “Warrant”). Each Warrant entitles the holder to purchase one non- flow-through
common share of the Company at a purchase price of $0.20 per share until September 9, 2021. The proceeds of
the Non-FT Offering will be used for general working capital purposes. The Non-FT Offering is subject to the
final acceptance of the Exchange.
All securities issued to purchasers under the FT Offering and the Non- FT Offering are subject to a four month
hold period expiring on January 10, 2020 pursuant to applicable securities legislation. No finder’s fees were paid
in connection with the FT Offering or the Non-FT Offering.
On behalf of the Board,
“Gordon P. Leask”
Gordon P. Leask
President, Chief Executive Officer and director
For additional information:
Gordon P. Leask, P.Eng. or John M. Leask, P.Eng.
Tel: 604.681.4462
Email: [email protected] or [email protected]
About Highway 50 Gold Corp.
Highway 50 Gold Corp. is a mineral exploration stage company led by a t eam of experienced explorers and deal -makers.
The Company is executing an exploration plan refined over 25 years of experience in Nevada and the Aldridge Formation of
southeastern British Columbia . The exploration focus on its projects are a result of what management believes to be
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breakthroughs in the understanding of north-central Nevada’s crustal architecture and a new geological understanding on the
Monroe property in British Columbia.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Note This news release contains certain forward- looking statements, including statements regarding the FT
Offering and the Non- FT Offering (the “Offerings”); the Company’s ability to receive final acceptance from the Exchange
to the completion of the Offering s; the Company’s proposed plans for the exploration of the Monroe property; the intended
principal uses of the proceeds of the Offerings; and the business and anticipated financial performance of the Company.
These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results
contemplated by the forward- looking statements. Factors that could ca use actual results to differ ma terially from those in
forward-looking statements include: the Company does not receive regulatory acceptance to the Offerings; changes in metal
prices, changes in the availability of funding; unanticipated changes in key management personnel and general economic
conditions. Mining is an inherently risky business. Accordingly the actual events may differ martially from those projected
in the forward- looking statements. When relying on forward- looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-
looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by
itself or on its behalf, unless otherwise required pursuant to applicable laws.