Golden Tag Announces Upsize of of its Previously Announced Non-Brokered Private Placement
NEWS RELEASE
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Golden Tag Announces Upsize of
of its Previously Announced Non-Brokered Private Placement
Toronto, Ontario, February 24, 202 2: Golden Tag Resources Ltd. (“ Golden Tag ” or the
"Company") (TSX.V: GOG) (OTCQB: GTAGF) is pleased to announce that due to strong investor
demand for the non-brokered private placement previously announced on January 20, 2022 , the
Company has agreed to increase the size of the private placement by up to 5,000,000 Units, for
aggregate gross proceeds of up to $ 1,250,000 (the “ Offering”). Together with the first tranche ,
which closed on February 8, 2022, up to 13,000,000 Units may be issued under the Offering at a
price of $0.25 per Unit.
Each Unit will consist of one common share in the capital of the Company (“Common Share”) and
one-half of one Common Share purchase warrant (each, a “Warrant”). Each whole Warrant will
entitle the holder thereof to acquire one Common Share at a price of C $0.40 for 24 months
following the closing of the Upsized Offering. The Warrants will contain an acceleration provision
whereby if the closing price of the Common Shares on the Exchange is $0.70 or more for 10
consecutive trading days the Company will have the right to accelerate the expiry date of the
Warrants.
In connection with the Upsized Offering, the Company may pay finders’ fees in cash or securities,
or a combination of both, as permitted by the policies of the Exchange.
The securities issued and issuable pursuant to the Upsized Offering will be subject to a four month
and one day hold period. The Company intends to use the net proceeds of the Upsized Offering
to fund advancement of the Company’s 100% owned San Diego Project, in Durango Mexico, and
for working capital and general corporate purposes. The Upsized Offering is subject to certain
conditions including, but not limited to, the completion of documentation and the receipt of all
necessary approvals, including the approval of the TSX Venture Exchange and applicable
securities regulatory authorities.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended
(the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to
persons in the United States absent registration or an exemption from such registration
requirements. This press release shall not constitute an offer to sell or the solicitation of an offer
to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful.
About Golden Tag Resources
Golden Tag Resources Ltd. is a junior exploration company exploring for high -grade silver
deposits. The Company holds a 100% interest, subject to a 2% NSR, in the San Diego property in
Durango State, Mexico. The San Diego property is located within the pro lific Velardeña Mining
District, the site of several mines having produced silver, zinc, lead, and gold over the past century.
For more information regarding the San Diego property please visit our website at
www.goldentag.ca.
For additional information, please contact:
Greg McKenzie, President & CEO
Ph: 416-504-2024
www.goldentag.ca
Cautionary Statement:
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this news release. Certain
statements in this news release are forward -looking and involve a number of risks and
uncertainties. Such forward -looking statements are within the meaning of the phrase ‘forward -
looking information’ in the Canadian Securities Administrators’ National Instrument 51 -102 –
Continuous Disclosure Obligations. Forward -looking statements are not comprised of historical
facts. Forward-looking statements include estimates and statements that describe the Company’s
future plans, objectives or goals, including words to the effect that the Company or management
expects a stated condition or result to occur. Forward-looking statements may be identified by such
terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”.
Since forward -looking statements are based on assumptions and address fut ure events and
conditions, by their very nature they involve inherent risks and uncertainties. Although these
statements are based on information currently available to the Company, the Company provides
no assurance that actual results will meet management ’s expectations. Risks, uncertainties and
other factors involved with forward -looking information could cause actual events, results,
performance, prospects and opportunities to differ materially from those expressed or implied by
such forward-looking information. Forward-looking information in this news release includes, but
is not limited to, statements regarding the anticipated completion of the Upsized Offering, the
amounts expected to be raised in the Upsized Offering, the use of proceeds, and the advancement
of the Company’s San Diego Project . Factors that could cause actual results to differ materially
from such forward -looking information include, but are not limited to: the ability to predict and
counteract the effects of COVID-19 on the business of the Company, including but not limited to
the effects of COVID -19 on the price of commodities, capital market conditions, restriction on
labour and international travel and supply chains; failure to identify mineral resources; failure to
convert estimated mineral resources to reserves; the inability to complete a feasibility study which
recommends a production decision; the preliminary nature of metallurgical test results; delays in
obtaining or failures to obtain required governmental, environmental or ot her project approvals;
political risks; changes in equity markets; uncertainties relating to the availability and costs of
financing needed in the future; the inability of the Company to budget and manage its liquidity in
light of the failure to obtain additional financing; inflation; changes in exchange rates; fluctuations
in commodity prices; delays in the development of projects; capital, operating and reclamation
costs varying significantly from estimates and the other risks involved in the mineral expl oration
and development industry; and those risks set out in the Company’s public documents filed on
SEDAR. Although the Company believes that the assumptions and factors used in preparing the
forward-looking information in this news release are reasonable , undue reliance should not be
placed on such information, which only applies as of the date of this news release, and no
assurance can be given that such events will occur in the disclosed time frames or at all. The
Company disclaims any intention or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, other than as required by law.
No stock exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein.