Golden Independence Announces Close of Private Placement Financing
Golden Independence Announces Close of
Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - April 9, 2021) -
Golden Independence Mining Corp.
(CSE: IGLD) (OTCQB: GIDM) (FSE: 6NN) (the "
Company
" or "
IGLD
") announces it completed the
previously-announced non-brokered private placement for gross proceeds of $2,800,000 (the "
Private
Placement
").
The financing resulted in the issuance of 11,200,000 units (each a "
Unit
") at a price of $0.25 per Unit.
Each Unit is comprised of one common share and one-half of one common share purchase warrant
(each whole warrant, a "
Warrant
").
Each Warrant entitles the holder to purchase one additional common
share of the Company at a price of $0.42 per share for a period of two years from the date of issuance.
In connection with the Private Placement, the Company paid aggregate cash finders' fees of $59,285
and issued an aggregate of 263,040 finder warrants (the "
Finder Warrants
") to eligible finders, with the
Finder Warrants having the same terms and conditions as the Warrants.
Insiders of the Company purchased an aggregate of 304,200 Units in the Private Placement. The
Company has relied on the exemptions from the valuation and minority shareholder approval
requirements of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special
Transactions ("
MI 61-101
") contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of such
insider participation.
All securities issued pursuant to the Private Placement will be subject to a four-month hold period from
the date of issuance. Completion of the Private Placement is subject to the approval of the Canadian
Securities Exchange.
None of the Shares or Warrants have been or will be registered under the United States Securities Act
of 1933, as amended, or the securities laws of any state of the United States, and may not be offered or
sold in the United States absent registration or an applicable exemption from the registration
requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of the securities, in any jurisdiction in which such offer, solicitation or sale
would require registration or otherwise be unlawful.
About Golden Independence Mining Corp.
Golden Independence Mining Corp. is an exploration company currently focused on exploring the
advanced-stage Independence Gold Property located in the Battle Mountain-Cortez Trend, Nevada and
the Champ precious metal property near Castlegar, British Columbia. The Independence Gold Property
benefits from over US$25 million in past exploration, including over 200 holes drilled, and is located
adjacent to Nevada Gold Mines' Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend
of Nevada.
FOR FURTHER INFORMATION PLEASE CONTACT:
Christos Doulis, Chief Executive Officer
Telephone: 1.647.924.1083 Email:
Forward Looking Information
This press release contains forward-looking information (within the meaning of applicable Canadian
securities legislation) that involves various risks and uncertainties regarding future events. Such forward-
looking information includes statements based on current expectations involving a number of risks and
uncertainties and such forward-looking statements are not guarantees of future performance of the
Company, and include, without limitation, statements regarding completion of the Private Placement.
There are numerous risks and uncertainties that could cause actual results and the Company's plans and
objectives to differ materially from those expressed in the forward-looking information in this news
release, including without limitation, the following risks and uncertainties: (i) the risk that the Canadian
Securities Exchange will not accept the terms of the Private Placement; (ii) the risk that the Company will
not be able to locate suitable purchasers for the Private Placement; and (iii) management's discretion
regarding the use of proceeds. Actual results and future events could differ materially from those
anticipated in such information. This forward-looking information is based on estimates and opinions of
management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about
the Company's business are more fully discussed in the Company's disclosure materials filed with the
securities regulatory authorities in Canada at
www.sedar.com
. The Company assumes no obligation to
update any forward-looking information or to update the reasons why actual results could differ from such
information unless required by applicable law.
NOT FOR DISTRIBUTION OR DISSEMINATION INTO THE UNITED STATES OR THROUGH U.S.
NEWSWIRE SERVICES
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