Angold Announces Closing of Private Placement
ANGOLD ANNOUNCES CLOSING OF PRIVATE PLACEMENT
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia – March 1, 2023 – Angold Resources Ltd. (“Angold” or the “Company”)
(TSXV:AAU) (OTCQB:AAUGF) (Frankfurt: 13L) has completed its previously announced non-brokered
private placement and has issued 10,250,000 shares of the Company at a price of $0.02 for aggregate
gross proceeds of $205,000 (the “Offering”).
The proceeds from the Offering will be used for financing existing operations and future geological
work on the Company’s projects, of which one-half is expected to be used for general and
administrative expenses and the balance for exploration and property maintenance. At this time, the
Company does not propose to make any payments to related parties, and none of the proceeds from
the Offering will be used for investor relations activities. No finders’ fees or commissions were paid
in connection with completion of the Offering. All securities issued are subject to restrictions on resale
until June 29, 2023 in accordance with applicable securities laws.
The Offering included participation by an officer of the Company , through a holding company
controlled by that officer, in the amount of $ 50,000. Such participation co nstitutes a “related party
transaction” within the meaning of Multilateral Instrument 61 -101 – Protection of Minority Security
Holders in Special Transactions (“MI 61-101”). The issuance of securities to the officer of the Company
is exempt from the valuation requirement of MI 61 -101 by virtue of the exemption contained in
section 5.5(b) as the Company’s shares are not listed on a specified market and from the minor ity
shareholder approval requirements of MI 61 -101 by virtue of the exemption contained in section
5.7(a) of MI 61-101, in that the fair market value of the consideration of the securities issued to the
officer does not exceed 25% of the Company’s market capitalization.
About Angold Resources Ltd.
Angold is an exploration and development company targeting large-scale mineral systems in proven
gold districts in Chile, Nevada, Oregon and Ontario.
ON BEHALF OF THE BOARD OF ANGOLD RESOURCES LTD.
"Galen McNamara"
Chairman and Interim CEO
Further information on Angold can be found on the Company's website at www.angoldresources.com
and at www.sedar.com, or by contacting the Company by email at [email protected]
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 news release contains forward -looking statements and forward-
looking information within the meaning of applicable securities laws. These statements relate to future
events or future performance and include expectations regarding the intended use of proceeds from
the Offering . All statements other than statements of historical fact may be forward -looking
statements or information. Forward-looking statements and info rmation are often, but not always,
identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate",
"approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could",
"might", "s hould", "believe", "would" and similar expressions. Forward-looking statements and
information are provided for the purpose of providing information about the current expectations and
plans of management of the Company relating to the future. Readers are c autioned that reliance on
such statements and information may not be appropriate for other purposes, such as making
investment decisions. Since forward-looking statements and information address future events and
conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ
materially from those currently anticipated due to a number of factors and risks. Accordingly, readers
should not place undue reliance on the forward- looking statements, timelines and information
contained in this news release. Forward-looking information are based on management of the parties’
reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such
management’s experience and perception of trends, curre nt conditions and expected developments,
and other factors that management believes are relevant and reasonable in the circumstances, but
which may prove to be incorrect.
The Company undertakes no obligation to update forward-looking information except as required by
applicable law. Such forward-looking information represents management’s best judgment based on
information currently available. No forward-looking statement can be guaranteed and actual future
results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-
looking statements or information.