Ethos Gold announces closing of private placements
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Ethos Gold announces closing of private placements
Vancouver, BC – September 3, 2020, Ethos Gold Corp. (“ Ethos ” or the “ Company ”) (TSXV:ECC)
(OTCQB: ETHOF) is pleased to announce that it has c losed its previously announced non-brokered
private placements (collectively the “Private Place ments”) for gross proceeds to the company of
$4,360,000.
The Private Placements consisted of the following:
• a private placement of 10,000,000 units priced at $ 0.14 per unit for gross proceeds of
$1,400,000. Each unit is comprised of one common s hare, and one half of one common
share purchase warrant. Each whole warrant is exer cisable into one common share of the
Company at an exercise price of $0.20 until Septemb er 3, 2022. The common share
purchase warrants will be subject to acceleration a t the Company’s discretion in the event
its common shares trade on the TSX Venture Exchange on a volume weighted average price
(“VWAP”) basis of C$0.40 or more for a period of te n consecutive trading days. Proceeds of
this offering will be utilized on the Company’s Iro n Point project in Nevada and for general
working capital.
• an Ontario flow through private placement of 2,000, 000 flow through units priced at $0.16
per unit for gross proceeds of $320,000. Each unit is comprised of one flow through share,
and one half of one non-flow through common share p urchase warrant. Each whole
warrant is exercisable into one common share of the Company at an exercise price of $0.22
until September 3, 2022. The common share purchase warrants will be subject to
acceleration at the Company’s discretion in the eve nt its common shares trade on the TSX
Venture Exchange on a volume weighted average price (“VWAP”) basis of C$0.40 or more
for a period of ten consecutive trading days. Proceeds of this offering will be utilized on the
Company’s Fuchsite Lake Gold Project in Ontario or on eligible flow through expenditures
on other Ontario projects.
• a British Columbia charity flow through private pla cement of 3,000,000 flow through units
priced at $0.18 per unit for gross proceeds of $540,000. Each unit is comprised of one flow
through share, and one half of one non-flow through common share purchase warrant.
Each whole warrant will be exercisable into one com mon share of the Company at an
exercise price of $0.24 until September 3, 2022. The common share purchase warrants will
be subject to acceleration at the Company’s discret ion in the event its common shares
trade on the TSX Venture Exchange on a volume weigh ted average price (“VWAP”) basis of
C$0.40 or more for a period of ten consecutive trad ing days. Proceeds of this offering will
be utilized on the Company’s Perk Rocky copper-gold porphyry project in British Columbia
or on eligible flow through expenditures on other British Columbia projects.
• a private placement of 10,000,002 units priced at $ 0.21 per unit for gross proceeds of
$2,100,000. Each unit is comprised of one common s hare, and one half of one common
share purchase warrant. Each whole warrant is exer cisable into one common share of the
Company at an exercise price of $0.28 until Septemb er 3, 2022. The common share
purchase warrants will be subject to acceleration a t the Company’s discretion in the event
its common shares trade on the TSX Venture Exchange on a volume weighted average price
(“VWAP”) basis of C$0.55 or more for a period of te n consecutive trading days. Proceeds of
this offering will be utilized on the Company’s Iro n Point project in Nevada and for general
working capital.
The Private Placements are subject to the final acc eptance of the TSX Venture Exchange, and all
securities issued or issuable under the Private Placements will be subject to a 4-month hold period
expiring on January 4, 2021. The Company paid aggr egate cash Finders fees of $39,338.18 and
issued 226,300 Finders Warrants in connection with the Private Placements. 116,925 Finder’s
Warrants entitle the holders to acquire one common share of the Company at $0.20 per share and
109,375 Finder’s Warrant entitle the holders to acq uire one common share of the Company at
$0.28 per share until September 3, 2022.
Contact
For additional information please contact Tom Marti n at E: [email protected] P: 1-250-516-
2455 or view the Company’s website, www.ethosgold.com .and the Company’s sedar profile at
www.sedar.com .
Ethos Gold Corp.
Per: " Craig Roberts "
Craig Roberts, P.Eng., President & CEO
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securi ties legislation,
including, but not limited to, statements regarding the Company’s plans with respect to the Company’s projects and
the timing related thereto, the merits of the Compa ny’s projects, the Company’s objectives, plans and strategies, the
Private Placements, and other project opportunities . Although the Company believes that such statement s are
reasonable, it can give no assurance that such expe ctations will prove to be correct. Forward-looking statements are
statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans,"
"anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective ,", “strategy”,
"prospective," and similar expressions, or that eve nts or conditions "will," "would," "may," "can," "c ould" or "should"
occur, or are those statements, which, by their nat ure, refer to future events. The Company cautions t hat Forward-
looking statements are based on the beliefs, estima tes and opinions of the Company's management on the date the
statements are made and they involve a number of ri sks and uncertainties. Consequently, there can be n o assurances
that such statements will prove to be accurate and actual results and future events could differ mater ially from those
anticipated in such statements. Except to the exten t required by applicable securities laws and the po licies of the TSX
Venture Exchange, the Company undertakes no obligat ion to update these forward-looking statements if
management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to
differ materially from those anticipated in these f orward-looking statements include the risk of accid ents and other
risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological
factors, or the possibility that the Company may no t be able to secure permitting and other agency or governmental
clearances, necessary to carry out the Company's ex ploration plans, risks and uncertainties related to the COVID-19
pandemic, and the risk of political uncertainties and regulatory or legal changes in the jurisdictions where the Company
carries on its business that might interfere with t he Company's business and prospects. The reader is urged to refer to
the Company's reports, publicly available through t he Canadian Securities Administrators' System for E lectronic
Document Analysis and Retrieval (SEDAR) at www.seda r.com for a more complete discussion of such risk f actors and
their potential effects.
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.