Highway 50 GOLD Announces Flow-Through Financing to Raise $240,000, Non-Flow-Through Financing to Raise $55,000
NEWS RELEASE
HIGHWAY 50 GOLD ANNOUNCES FLOW-THROUGH FINANCING TO RAISE $240,000,
NON-FLOW-THROUGH FINANCING TO RAISE $55,000
Vancouver, British Columbia – Highway 50 Gold Corp. (TSX.V – HWY)
August 28, 2019
Highway 50 Gold Corp. (“Highway 50” or the “Company”) is pleased to announce a non-brokered private
placement to raise gross proceeds to the Company of up to $240,000 (the “FT Offering”) by the issuance of up
to 1,600,000 units (each a “FT Unit”) at a purchase price of $0.15 per FT Unit. Each FT Unit will consist of one
common share of the Company to be 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 will entitle the holder to purchase one non-flow-through common share of the Company at a purchase
price of $0.20 per share for a period of two years from the date of the closing of the FT Offering. The proceeds
of the FT Offering will be used to re-commence drilling on the Monroe property located in southeastern British
Columbia. Drilling will include testing the extensions of the lead-zinc system intersected in 2016 to 2018 drilling.
The target being 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 acceptance of the TSX Venture
Exchange (the “Exchange”).
The Company is also pleased to announce a non-brokered private placement to raise gross proceeds to the
Company of up to $55,000 (the “Non-FT Offering”) by the issuance of up to 366,666 units (each, a “Unit”) of
the Company at a purchase price of $0.15 per Unit. Each Unit will consist of one non-flow-through common
share of the Company and one non-flow-through common share purchase warrant (each, a “Warrant”). Each
Warrant will entitle the holder to purchase one non-flow-through common share of the Company at a purchase
price of $0.20 per share for a period of two years from the closing date of the Non-FT Offering. The proceeds of
the Non-FT Offering will be used for general working capital purposes. The Non-FT Offering is subject to the
acceptance of the Exchange.
Insiders of the Company intend to participate in the FT Offering and the Non -FT Offering (collectively, the
“Offerings”). No finder’s fees are payable in respect of the Offerings.
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 team 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
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
Offerings; the Company’s ability to complete the Offerings and receive acceptance from the Exchange to the completion of
the Offerings; the Company’s proposed plans for the exploration of the Monroe property; 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 cause actual results
to differ materially from those in forward-looking statements include the Company does not complete all or any part of the
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Offerings; 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.