Spanish Mountain Gold Announces Closing of Private Placement
1120‐1095 West Pender Street
Vancouver, British Columbia, V6E 2M6
Tel: 604.601.3651
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES
September 29, 2017
Spanish Mountain Gold Announces Closing of Private Placement
VANCOUVER, B.C. - Spanish Mountain Gold Ltd. (“ Spanish Mountain ” or the
“Company”) (TSX-V: SPA) is pleased to an nounce that it has closed on 9,615,384
common share units (the “ Units”) of its non-brokered private placement offering (the
“Offering”) for gross proceeds of approximately $1,250,000.
Each Unit issued consisted of one common share of the Company and one common share
purchase warrant (a “ Warrant”). Each Warrant entitles its holder to purchase one
common share at a price of $0.20 per share for a period of two years. All of the securities
issued in connection the Offering are subj ect to a statutory four-month hold period
expiring on January 28, 2018.
No finders’ fee or commission was paid in connection with the Offering. The Company
expects to use all of the proceeds from the Offering to advance the Company’s Spanish
Mountain gold project. The Offering is subj ect to final acceptance by the TSX Venture
Exchange upon filing of final documentation.
Certain directors and an o fficer of the Company had s ubscribed to a total of 1,424,193
Units in connection with the private placement. Such participation is considered to be a
"related party transaction" as defined under Multilatera l Instrument 61-101 ("MI 61-
101"). The transaction was exempt from th e formal valuation and minority shareholder
approval requirements of MI 61- 101 as neither the fair mark et value of any securities
issued to nor the considerat ion paid by such persons ex ceeded 25% of the Company's
market capitalization.
This news release does not constitute an offer to sell or a solicitation of an offer to sell
any of securities in the United States. The securities have not been and will not be
registered under the Unite d States Securities Act of 1933, as amended (the “ U.S.
Securities Act”) or any state securities laws and ma y not be offered or sold within the
United States or to U.S. Persons unless re gistered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration is available.
About Spanish Mountain Gold
Spanish Mountain Gold Ltd is focused on a dvancing its flagship Spanish Mountain gold
project in southern central British Columb ia. The Company has adopted a two-zone
project approach in which the pit-delineated high grade core (the First Zone) of the multi-
million ounce resource is expected to sustain a robust stand-alone operation exceeding 24
years. The positive economics of the First Zone have been demonstrated in a Preliminary
Economic Assessment. Furthermore, the Second Zone could potentially expand and
extend the project’s production profile for decades. Additional information about the
Company is available on its website: www.spanishmountaingold.com.
On Behalf of the Board,
SPANISH MOUNTAIN GOLD LTD.
Larry Yau
Chief Executive Officer
Inquiries:
SPANISH MOUNTAIN GOLD LTD.
Phone: (604) 601-3651
E-mail: [email protected]
Website: www.spanishmountaingold.com
Neither TSX Venture Exchange nor its Regulations Services Pr ovider (as that term is
defined in policies of the TSX Venture Exc hange) accepts responsibility for the adequacy
or accuracy of this release.
This news release contains forward-looki ng information, which involves known and
unknown risks, uncertainties and other factors that may cause actual events to differ
materially from current expecta tion. Important factors that c ould cause actual results to
differ materially from the Company's exp ectations are disclosed in the Company's
documents filed from time to time on SEDAR (see www.sedar.com). Readers are
cautioned not to place undue reliance on thes e forward-looking statements, which speak
only as of the date of this press release. The company discla ims any intention or
obligation, except to the extent required by la w, to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.