Golden Birch Resources Inc. Announces a $6,000,000 Private Placement Financing of Units Through the Engagement of IBK Capital Corp.
140 Cook’s Lake Road
Timmins, Ontario
P4R 0B7 Canada
Golden Birch News Release – April 16, 2020
Golden Birch Resources Inc. Announces a $6,000,000 Private Placement
Financing of Units Through the Engagement of IBK Capital Corp.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION,
DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR
INTO THE UNITED STATES
Timmins, ON, Canada (April 16, 2020) – Golden Birch Resources Inc. (CSE: GBRX) (“Golden Birch”
or the “Company”) announces that it has engaged IBK Capital Corp. (“IBK Capital”) to manage a
proposed private placement financing for gross proceeds of up to C$6,000,000 through the sale
of units (“Units”) of the Company at a price of C$0.15 per Unit (the “Offering”). Each Unit shall
consist of one common share in the capital of the Company (“Share”) and one Share purchase
warrant (“Warrant”). Each whole Warrant shall entitle the holder to purchase one additional
Share at an exercise price of C$0.20 per Share, for a period of five (5) years from the date of
issuance. Golden Birch has also entered into an agreement with IBK Capital to assist the Company
in evaluating strategic alternatives to maximise shareholder value through advancement of the
Company’s flagship property, a copper-gold project located in Papua New Guinea (the “Keveri
Project”).
All securities issued and issuable pursuant to the Offering will be subject to a hold period of four
months and one day from the date of closing. In connection with the Offering, the Company will
pay commissions to IBK Capital in accordance with the policies of the Canadian Securities
Exchange (“CSE”). Completion of the Offering is subject to the receipt of all regulatory approvals,
including the approval of the CSE.
Alan Martin, President, Chief Executive Officer, and Executive Director of Golden Birch Resources
said: “We are pleased to have a firm with IBK Capital’s global relationships in the mining sector
to explore ways to create value for our shareholders. We are excited about the potential of the
Keveri Project. Golden Birch has identified multiple exploration targets and we intend on
advancing these in order to enhance shareholder value.”
Use of Proceeds
The Company intends to use the proceeds from this private placement for exploration on the
Keveri Project, for working capital, corporate overhead and general and administrative purposes.
About Golden Birch Resources Inc.
Golden Birch Resources Inc. is a mineral exploration company focused on acquiring, exploring,
and developing quality mineral properties in Papua New Guinea. Core value for the Company are
respect for the Community, the Landowners, the environment and operating a safe workplace
140 Cook’s Lake Road
Timmins, Ontario
P4R 0B7 Canada
Golden Birch News Release – April 16, 2020
for its employees. The Company is also committed to best practise standards of Corporate
Governance.
For further information please visit the Company’s website at www.goldenbirchresources.ca
or contact:
Golden Birch Resources
Iain Martin, Chief Administrative Officer (CAO)
& Executive Director
Yellow Jersey PR Limited
Sarah Hollins
Henry Wilkinson
Emma Becirovic
Tel: +1 (0) 705 288 0249
Tel: +44 (0) 20 3004 9512
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of
the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in
the United States of America. The securities have not been and will not be registered under the United States Securities Act
of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States
or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the
1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
Forward-Looking Statements
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian
Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results
to differ materially from the statements made. Such statements reflect the Company’s present views, future plans, objective
or goals, including words to the effect that the Company or management expects a stated condition or result to occur.
When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”,
“estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Since forward-looking
statements are based on assumptions and address future events and conditions, by their very nature they involve inherent
risks and uncertainties. Although these statements are based on information currently available to the Company, the
Company provides no assurance that actual results will meet management’s expectations. Many risks, uncertainties, and
other factors involved with forward-looking information could cause our actual results to differ materially from the
statements made, including those factors discussed in filings made by us with the Canadian securities regulatory
authorities.
Forward-looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future
plans, statements, such actual results of current exploration programs, the general risks associated with the mining
industry, the price of copper, gold and other metals, currency and interest rate fluctuations, increased competition and
general economic and market factors, potential mineralization, the estimation of mineral resources, exploration and mine
development plans, timing of the commencement of operations and estimates of market conditions. Factors that could
cause actual results to differ materially from such forward-looking information include, but are not limited to failure to
identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility
study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or
failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to
the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates,
fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly
140 Cook’s Lake Road
Timmins, Ontario
P4R 0B7 Canada
Golden Birch News Release – April 16, 2020
from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in
the Company’s public documents filed on SEDAR.
Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this
news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of
this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The
Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of
new information, future events or otherwise, other than as required by law