Golden Tag Closes First Tranche of 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 Closes First Tranche of Previously Announced
Non-Brokered Private Placement
Toronto, Ontario, February 8, 2022 : Golden Tag Resources Ltd. (“Golden Tag ” or the
"Company") (TSX.V: GOG) (OTCQB: GTAGF) is pleased to announce the closing of the first
tranche (the “First Tranche“) of the non-brokered private placement announced on January 20,
2022 (the “Offering”). Under the First Tranche, the Company issued 7,166,670 Units, for aggregate
gross proceeds of $1,791,667.50.
The Offering
Each Unit consists of one common share (“Common Share”) and one-half of one common share
purchase warrant (each, a “Warrant”). Each whole Warrant issued pursuant to the First Tranche
entitles the holder thereof to acquire one Common Share at a price of C$0.40 until February 8,
2024. The Warrants 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 (the “Acceleration Provision”).
In connection with the First Tranche, the Company paid aggregate cash finder’s fees of $39,800
and issued 140,000 finder’s warrants (each, a “Finder’s Warrant“). Each Finder’s Warrant entitles
the holder to purchase one Share at a price of $0.25 for a period of 24 months months following
closing of the First Tranche, subject to the Acceleration Provision.
The securities issued and issuable pursuant to the First Tranche of the Offering will be subject to
a four month and one day hold period. The Company intends to use the net proceeds of the
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 Offering remains subject to TSX Venture Exchange (the “TSXV”) final acceptance.
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 prolific 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, use of proceeds of the Offering, closing of future tranches of the Offering and
proceeds therefrom, acceptance of regulatory filings by the Exchange, 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 other 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 exploration
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 reason able, 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.