Precipitate Closes Private Placement for Proceeds of $1,322,727
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DISSEMINATION IN THE UNITED STATES.
Precipitate Closes Private Placement for Proceeds of $1,322,727
Vancouver, B.C. – November 6, 2019 - Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV: PRG)
is pleased to announce the closing of its non-broke red private placement of 10,174,820 units of the
Company at a price of $0.13 per unit for gross proceeds of C$1,322,727 (the “Offering”).
Each unit consists of one common share and one half of one common share purchase warrant. Each whole
common share purchase warrant entitles the holder to purchase one additional common share at a price of
C$0.20 per common share until November 6, 2021. Pre cipitate will apply the net proceeds of the offerin g
to the Company’s projects in the Dominican Republic as well as general working capital purposes.
Jeffrey Wilson, Company President & CEO stated, "We are excited to close this important equity financi ng,
as the proceeds provide the required capital for th e Company to execute on its highly anticipated
exploration drilling program within the Loma Cuaba Lithocap Zone of its 100% owned Pueblo Grande
Project adjacent to Barrick’s world-class Pueblo Vi ejo gold-silver mine in the Dominican Republic. As
previously reported, the Company’s recent work has successfully delineated and prioritized eight fully
permitted distinct target areas that will be the fo cus of the upcoming diamond drilling campaign. The
Company’s technical team is commencing preparations in advance of the commencement of drilling.”
The Company paid commissions to finders under the p lacement consisting of aggregate cash commissions
of C$13,026 and the issue of an aggregate of 100,20 0 finder’s warrants. Each finder’s warrant entitle s the
holder to purchase one common share of Precipitate at a price of C$0.20 per common share until
November 6, 2021.
All securities issued or issuable under the offerin g are subject to a four-month hold period expiring on
March 7, 2020, in addition to such other restrictio ns as may apply under applicable securities laws in
jurisdictions outside of Canada.
Final closing of this Offering is subject to final acceptance by the TSX Venture Exchange.
About Precipitate Gold:
Precipitate Gold Corp. is a mineral exploration com pany focused on exploring and advancing its mineral
property interests in the Pueblo Viejo Mining Camp and Tireo Gold Trend of the Dominican Republic.
Precipitate is also actively evaluating additional high-impact property acquisitions with the potentia l to
expand the Company's portfolio and increase shareholder value.
TSX VENTURE: PRG | www.precipitategold.com
625 Howe Street, Suite 1020, Vancouver, BC, V6C 2T6
Toll free: 855 558 0335
Direct: 604 558 0335
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On Behalf of the Board of Directors of Precipitate Gold Corp.,
“Jeffrey Wilson”
President & CEO
For further information, please contact:
Tel: 604-558-0335 Toll Free: 855-558-0335 [email protected]
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other
than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the
use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is ex pected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such w ords and phrases, or by the use of words or
phrases which state that certain actions, events or results may, could, would, or might occur or be ac hieved. This forward-looking information
reflects Precipitate Gold Corp.’s (“Precipitate” or the “Company”) current beliefs and is based on information currently available to Company and on
assumptions it believes are reasonable. Forward-loo king information is subject to known and unknown ri sks, uncertainties and other factors that
may cause the actual results, level of activity, performance or achievements of Precipitate to be materially different from those expressed or implied
by such forward-looking information. Such risks and other factors may include, but are not limited to: the exploration concessions may not be
granted on terms acceptable to the Company, or at a ll; general business, economic, competitive, political and social uncertainties; the concessions
acquired by the Company may not have attributes similar to those of surrounding properties; delay or failure to receive governmental or regulatory
approvals; changes in legislation, including enviro nmental legislation affecting mining; timing and av ailability of external financing on acceptable
terms; conclusions of economic evaluations; and lac k of qualified, skilled labour or loss of key indiv iduals. Although Precipitate has attempted to
identify important factors that could cause actual results to differ materially from those contained i n forward-looking information, there may be
other factors that cause results not to be as antic ipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-
looking information. Precipitate does not undertake to update any forward-looking information, except in accordance with applicable securities
laws.