The gross proceeds will be used by the Company to incur exploration expenditures on the Company’s Spanish Mountain gold project and will constitute “Canadian exploration expenses” and “flow through mining expenditures” (as defined in the Tax Act) which will be renounced to
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
De
cember 14, 2017
Sp
anish Mountain Gold Arranges Private Placement of Flow-through Shares
Vancouver, B.C. - Spanish Mountain Gold Ltd. (“Spanish Mountain” or the “Company”)
(TSX-V: SPA) is pleased to announce that it has arranged a non -br okered private placement
w
ith an institutional investor for gross proceeds of $500,006.
On c
losing, the Company will issue 3,846,200 flow -through common shares for $0.13 each.
The gross proceeds will be used by the Company to incur exploration expenditures on the
Company’s Spanish Mountain gold project and will constitute “Canadian exploration expenses”
and “flow through mining expenditures” (as defined in the Tax Act) which will be renounced to
the investor for the 2017 taxation year.
All shares issued on closing will be subject to a statutory four -month hold period. The closing,
which is expected to occur today, is subject to final acceptance by the TSX Venture Exchange.
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
United States Securities Act of 1933, as amended (the “U.S. Securities Act ”) or any state
securities laws and may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or an exemption
from such registration is available.
Abo
ut Spanish Mountain Gold
Spanish Mountain Gold Ltd is focused on advancing its flagship Spanish Mountain gold project
in southern central British Columbia. 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. Ad ditional 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 Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release contains forward- looking information, which involves known and unknown
risks, uncertainties and other factors that may cause actual events to differ materially from
current expectation. Important factors that could cause actual results to differ materially from
the Company's expectations are disclosed in the Company's documents filed from time to time
on www.sedar.com. Readers are cautioned not to place undue reliance on these forward-
looking statements, which speak only as of the date of this press release. The company
disclaims any intention or obligation, except to the extent required by law, to update or revise
any forward- looking statements, whether as a result of new information, future events or
otherwise.