Golden Independence Announces Repricing of Private Placement Financing
Golden Independence Announces Repricing of
Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - March 31, 2021) - Golden Independence Mining Corp.
(CSE: IGLD), (OTCQB: GIDMF), (FSE: 6NN) (the "
Company
" or "
IGLD
") announces that it is repricing
its previously announced proposed non-brokered private placement financing (the "
Private
Placement
"). The Private Placement will now be for up to 8,000,000 units ("
Units
") at a price of $0.25
per Unit for gross proceeds of up to $2,000,000. The Company retains the option to increase the Private
Placement to up 10,000,000 Units for gross proceeds of up to $2,500,000. The Company has received
subscription forms for substantially the entire revised amount and will look to close imminently following
the receipt of acknowledgement forms from subscribers for the revising pricing.
Each Unit will consist of one common share (a "
Common Share
") and one-half of a common share
purchase warrant (each whole warrant a
"Warrant
"). Each Warrant will entitle to the holder to acquire
one additional Common Share at an exercise price of $0.42 for 24 months following the date of
issuance. All other terms of the Private Placement remain unchanged.
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.
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
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/79048