Ethos Gold Announces Increase in Size of Flow-Through Financing to Raise $1.763 Million for Drilling at its Ligneris project, Abitibi, Québec
Suite 1430 – 800 West Pender Street, Vancouver, BC V6C 2V6
THIS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Ethos Gold Announces Increase in Size of Flow-Through
Financing to Raise $1.763 Million for Drilling
at its Ligneris project, Abitibi, Québec
Vancouver, BC – November 22, 2019, Ethos Gold Corp. (“ Ethos ” or the “ Company ”) (TSXV:ECC)
announces that it has increased the size of its non -brokered private placement announced October
28, 2019. Ethos is proceeding with the flow-throug h offering to raise gross proceeds of $1,763,541
by the issuance of up to 6,531,632 units (each a “F T Unit”) at a price of $0.27 per FT Unit (the “FT
Offering”). Each FT Unit will be comprised of one f low-through common share (a “FT Share”) and
one half of one non flow-through common share purch ase warrant (each whole warrant, a
“Warrant”). Each Warrant will be exercisable at a price of $0.30 into one common share for a
period of two years from the date of issuance. The FT Shares will qualify as “flow-through shares”
within the meaning of subsection 66(15) of the Income Tax Act (Canada).
The gross proceeds of the FT Offering will be used by the Company to incur “Canadian exploration
expenses” that will qualify as “flow-through mining expenditures” within the meaning of the
Income Tax Act (Canada) related to the Company’s projects in Québ ec on or prior to December 31,
2020 for renunciation to subscribers of FT Shares effective December 31, 2019.
The FT Offering is subject to the acceptance of the TSX Venture Exchange, and securities issued in
the FT Offering will be subject to a 4-month hold p eriod. Finder’s fees may be payable on all or a
portion of the FT Offering.
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.c om and the Company’s SEDAR profile at
www.sedar.com.
Ethos Gold Corp.
Per: " Craig Roberts "
Craig Roberts, P .Eng., President & CEO
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 Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securi ties legislation,
relating to, among other things, the Company’s plan to undertake the FT Offering, the size of the FT O ffering and the
contemplated use of the proceeds to further the exp loration and drilling on its Ligneris gold project, Abitibi, Quebec.
Although the Company believes that such statements are reasonable, it can give no assurance that such expectations
will prove to be correct. Forward-looking statement s are statements that are not historical facts; the y are generally,
but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "est imates," "projects,"
"aims," "potential," "goal," "objective," "prospect ive," and similar expressions, or that events or co nditions "will,"
"would," "may," "can," "could" or "should" occur, o r are those statements, which, by their nature, ref er to future
events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the
Company's management on the date the statements are made and they involve a number of risks and uncert ainties.
Consequently, there can be no assurances that such statements will prove to be accurate and actual res ults and future
events could differ materially from those anticipat ed in such statements. Except to the extent require d by applicable
securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to u pdate these
forward-looking statements if management's beliefs, estimates or opinions, or other factors, should ch ange. Factors
that could cause future results to differ materiall y from those anticipated in these forward-looking s tatements include
risks associated with the Company’s ability to comp lete the FT Offering and obtain the necessary appro val of the TSX
Venture Exchange, risks associated with the Company’ s ability to use the proceeds of the FT Offering as expected,
possible accidents and other risks associated with mineral exploration operations, the risk that the C ompany will
encounter unanticipated geological factors, the pos sibility that the Company may not be able to secure permitting and
other governmental clearances necessary to carry ou t the Company's exploration plans, the risk that th e Company will
not be able to raise sufficient funds to carry out its business plans, and the risk of political uncer tainties and regulatory
or legal changes that might interfere with the Comp any's business and prospects. The reader is urged t o refer to the
Company's reports, publicly available through the C anadian Securities Administrators' System for Elect ronic Document
Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factor s and their
potential effects.