/C O R R E C T I O N from Source -- Moneta Gold Inc./ In the news release, Moneta Gold Announces C$10 Million Bought Deal Private Placement of Flow Through Shares, issued 28-Jul-2022 by Moneta Gold Inc. over CNW, we are advised by the
/C O R R E C T I O N from Source -- Moneta
Gold Inc./
In the news release, Moneta Gold Announces
C$10 Million
Bought Deal Private Placement of Flow
Through Shares, issued
28-Jul-2022
by Moneta Gold Inc. over CNW, we are advised by the
company that the figures within the first paragraph have been updated. The complete, corrected
release follows:
Moneta Gold Announces C$10 Million Bought Deal Private Placement of Flow
Through Shares
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION,
DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN
OR INTO
THE UNITED STATES
./
Symbol: TSX: ME
TORONTO
,
July 28, 2022
/CNW/ -
Moneta Gold Inc.
(TSX: ME) (OTCQX: MEAUF) (XETRA:
MOP) ("Moneta Gold" or the "Company") is pleased to announce that it has entered into an
agreement with Stifel GMP to act as lead underwriter for and behalf of a syndicate of underwriters
(collectively, the "
Underwriters
"), in connection with a "bought deal" private placement offering
consisting of 4,200,000 common shares of the Company that qualify as "flow through shares" (within
the meaning of subsection 66(15) of the Income Tax Act (
Canada
)) (the "
Flow Through Shares
") at
a price of
C$2.40
per Flow Through Share for aggregate gross proceeds of
C$10,080,000
(the
"
Offering
"). In addition, the Company has granted the Underwriters an option to purchase 840,000
additional Flow Through Shares on the terms described above for additional aggregate gross
proceeds of up to approximately
C$2,016,000
, exercisable up to 48 hours prior to the closing of the
Offering.
The gross proceeds from the Offering will be used to incur eligible "Canadian exploration expenses"
that will qualify as "flow-through mining expenditures", as both terms are defined in the
Income Tax
Act
(
Canada
) (the
"Qualifying Expenditures"
) related to the Company's Tower Gold project in
Ontario
on or before
December 31, 2023
and shall renounce the Qualifying Expenditures to the
purchasers of the Flow Through Shares effective on or before
December 31, 2022
.
The Offering is scheduled to close on or about
August 18, 2022
and is subject to certain conditions
including, but not limited to, the receipt of all necessary regulatory and other approvals including the
approval of the Toronto Stock Exchange.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the
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 or for the account or benefit of a
U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the
U.S. Securities Act and applicable state securities laws or an exemption from such registration is
available.
About
Moneta Gold
Moneta is a Canadian-based gold exploration company focussed on advancing its 100% wholly
owned Tower Gold project, which currently hosts a gold mineral resource estimate of 4.3 Moz
indicated and 7.5 Moz inferred. The Corporation's 2022 drill program is primarily designed to infill
and upgrade the resource categories of the mineral resources. An updated PEA study
encompassing the entire Tower Gold project is planned to be completed in the third quarter of 2022.
Moneta is committed to creating shareholder value through the strategic allocation of capital and a
focus on the current resource upgrade drilling program, while conducting all business activities in an
environmentally and socially responsible manner.
The Company's public documents may be accessed at
www.sedar.com
. For further information on
the Company, please visit our website at
www.monetagold.com
or email us at
.
This news release includes certain forward-looking information and forward-looking statements,
collectively "forward-looking statements" within the meaning of applicable Canadian securities
legislation. Forward-looking statements are frequently identified by such words as "may", "will",
"plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and
results. Forward-looking statements include but are not limited to information with respect to the
future performance of the business, its operations and financial performance and condition such
as the Corporation's drilling program and the timing and results thereof and the timing of the
Corporation's PEA. Forward-looking statements are subject to inherent risks and uncertainties
including without limitation the impact of COVID-19 related disruptions in relation to the
Corporation's business operations including upon its employees, suppliers, facilities and other
stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other
financial market and social impacts from COVID-19 and responses to COVID 19 and the ability of
the Corporation to finance and carry out its anticipated goals and objectives. International conflicts
and other geopolitical risks, including war, military action, terrorism, trade and financial sanctions,
which have historically led to, and may in the future lead to, uncertainty or volatility in global
commodity and financial markets and supply chains; the impact of
Russia's
invasion of
Ukraine
and the widespread international condemnation has had a significant destabilizing effect on world
commodity prices, supply chains, inflation risk, and global economies more broadly, may
adversely affect the Corporation's business, financial condition, and results of operations.
Forward-looking statements are based on the current opinions and expectations of management.
All forward-looking information is inherently uncertain and subject to a variety of assumptions,
risks and uncertainties, including the speculative nature of mineral exploration and development,
fluctuating commodity prices, competitive risks and the availability of financing, as described in
more detail in our recent securities filings available at
www.sedar.com
. Actual events or results
may differ materially from those projected in the forward looking-statements and we caution
against placing undue reliance thereon. We assume no obligation to revise or update these
forward-looking statements.
SOURCE
Moneta Gold Inc.
View original content:
http://www.newswire.ca/en/releases/archive/July2022/28/c1244.html
%SEDAR: 00003301E
For further information:
Gary V. O'Connor, CEO, 416-357-3319; Linda Armstrong, Investor
Relations, 647-456-9223
CO: Moneta Gold Inc.
CNW 18:16e 28-JUL-22