Sitka Closes First Tranche of Non-Brokered Private Placement
Sitka Gold Corp.
1500 - 409 Granville Street
Vancouver, BC, V6C 1T2
NEWS RELEASE
CSE: SIG
August 9th, 2019
NR 19-07
www.sitkagoldcorp.com
Sitka Closes First Tranche of Non-Brokered Private
Placement
VANCOUVER, CANADA – August 9th, 2019: Sitka Gold Corp. (CSE: SIG) (the “Company”
or “Sitka”) is pleased to announce that it has completed the first tranche of its non-brokered
private placement (the “Offering”) described in its news release dated April 9th, 2019. In
connection with the first tranche closing of the Offering, the Company issued 3,848,000 units
(the “Units”) at a price of $0.11 per Unit for gross proceeds of $423,280. Each Unit consists of
one common share and one-half of one share purchase warrant. Each whole warrant will entitle
the holder to purchase an additional common share at a price of $0.16 for a period of two years.
Net proceeds from the financing will be used to conduct drill programs at the Burro Creek Gold
and Alpha Gold properties and for general working capital
In connection with the first tranche of the Offering, the Company agreed to pay commissions of
$1,320 and 12,000 broker warrants. Each broker warrant is exercisable to acquire one share in
the capital of the Company at an exercise price of $0.16 for two years.
Pursuant to the Private Placement, John Greg Dawson, a director of the Company, acquired
50,000 Units; Donald Penner, President and a director of the Company, acquired 225,000 Units;
Corwin Coe, CEO and a director of the Company, acquired 225,000 Units; Ryan Coe, a director
of the Company, acquired 320,000 Units; and Peter G. Maclean, a director of the Company,
acquired 228,000 Units (together the “Insiders”). The Insiders participation is considered to be
“related party transactions” as defined under Multilateral Instrument 61-101 (“MI 61-101”). The
transactions are exempt from the formal valuation and minority shareholder approval
requirements of MI 61-101 as neither the fair market value of the securities to be distributed in
the Private Placement nor the consideration to be received for those securities, in so far as the
Private Placement involves the Insiders, exceeds 25% of the Company’s market capitalization.
The Company did not file a material change report more than 21 days before the expected
closing of the private placement as the details of the private placement and the participation
therein by related parties of the Company were not settled until shortly prior to closing and the
Company wished to close on an expedited basis for sound business reasons and in a timeframe
consistent with usual market practices for transactions of this nature.
About Sitka Gold Corp.
Sitka Gold Corp. is a mineral exploration company headquartered in Canada and managed by a
team of experienced mining industry professionals. The Company is focused on exploring for
economically viable mineral deposits with its primary emphasis on gold and copper mineral
properties of merit. Sitka currently has an option to acquire a 100% interest in the RC Gold
property in the Yukon, an option to acquire a 100% interest in the Burro Creek Gold property in
Arizona and owns a 100% interest in its Coppermine River project in Nunavut and the Alpha
Gold property in Nevada. Directors and Management own approximately 36% of the
outstanding shares of Sitka Gold, a solid indication of their alignment with shareholder’s
interests.
ON BEHALF OF THE BOARD OF DIRECTORS OF SITKA GOLD CORP.
“Donald Penner”
President and Director
For more information contact:
Donald Penner
President & Director
or
Cor Coe
CEO & Director
604-817-4753
or
Peter MacLean
Director
604-781-8513
Cautionary and Forward-Looking Statements
This news release contains forward‐looking statements and forward‐looking information within
the meaning of applicable securities laws. These statements relate to future events or future
performance. All statements other than statements of historical fact may be forward‐looking
statements or information. Forward‐looking statements and information are often, but not
always, identified by the use of words such as “appear”, “seek”, “anticipate”, “plan”, “continue”,
“estimate”, “approximate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”,
“intend”, “could”, “might”, “should”, “believe”, “would” and similar expressions.
Forward-looking statements and information are provided for the purpose of providing
information about the current expectations and plans of management of the Company relating to
the future. Readers are cautioned that reliance on such statements and information may not be
appropriate for other purposes, such as making investment decisions. Since forward‐looking
statements and information address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks. These include, but are not limited to,
the expected timing and terms of the private placement, use of proceeds, anticipated work
program, required approvals in connection with the work program and the ability to obtain such
approvals. Accordingly, readers should not place undue reliance on the forward‐looking
statements, timelines and information contained in this news release. Readers are cautioned
that the foregoing list of factors is not exhaustive.
The forward‐looking statements and information contained in this news release are made as of
the date of this news release and no undertaking is given to update publicly or revise any
forward‐looking statements or information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities laws or the CSE. The forward-looking
statements or information contained in this news release are expressly qualified by this
cautionary statement.
The CSE has neither approved nor disapproved of the contents of this press release.