Aguila American GOLD Receives Approval to Complete Acquisition of Wusa GOLD Project and Financing
1
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION
OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
AGUILA AMERICAN GOLD RECEIVES APPROVAL TO COMPLETE ACQUISITION OF
WUSA GOLD PROJECT AND FINANCING
Vancouver, British Columbia – September 28, 2020: Aguila American Gold Limited (“Aguila” or
the “Company”) (TSX-V: AGL ) is pleased to report that regulatory acceptance was received by the
Company to complete its option to acquire up to an 80% interest in the WUSA epithermal gold project located
within the Western Cascades, Oregon, USA, as announced in the Company’s news release of August 5th 2020.
The Company is also pleased to announce the cl osing of its non -brokered private placement financing (the
“Private Placement”) announced on August 5th, 2020, as updated on August 21st and September 16th. Aguila
raised gross proceeds of CDN$2,679, 200 by issuing 11,907,556 units (each, a “ Unit”) of the Company, at a
price of CDN$0.225 per Unit, with each Unit comprising one common share (a “ Share”) and one -half of a
share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share at a
price of CDN$0.45 for a p eriod of two years from the closing of the Private Placement. Finders’ fees totalling
CDN$14,850 were paid on a portion of the Private Placement. The proceeds , net of costs related to the
acquisition of the WUSA interests and Private Placement above, will be used for exploration and development
activities and general working capital. All securities issued will be subject to a four month hold period from the
date of closing.
Related Party Transaction
Officers and/or directors of the Company participated in the Private Placement and purchased an aggregate
of 234,000 Units for aggregate gross proceeds of CDN$52,650. The participation in the Private Placement by
the officers and/or directors of the Compan y constitutes related party transactions pursuant to Multilateral
Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The
Company is exempt from the requirements to obtain a formal valuation or minority share holder approval in
connection with the participation in the Private Placement in reliance on the exemptions contained in sections
5.5(a) and 5.7(1)(a) of MI 61 -101, respectively, as the fair market value of the transaction does not exceed
25% of the Company’s market capitalization.
The securities offered 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 U.S. state securities laws, and may not be offered or
sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable
exemption from the registration requirements of the U.S. Securities Act and a pplicable U.S. state securities
laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in
the United States, nor in any other jurisdiction.
About Aguila American Gold Ltd (TSX.v: AGL)
Aguila American Gold is an emerging gold company enhancing shareholder value through exploration and
discovery.
2
ON BEHALF OF THE BOARD,
“Mark Saxon”
Mark Saxon
President & CEO
For further information, please contact:
www.aguila.gold
1305 – 1090 West Georgia St., Vancouver, BC, V6E
3V7
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is def ined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain information set out in this news release constitutes forward-looking information. Forward looking statements are
often, but not always, identified by the use of words such as "seek", "anticipate”, "plan", "continue”, "estimate”, "expect",
"may”, "will", "intend", "could", "might", "should", "believe" and similar expressions. Forward -looking statements are
based upon the opinions and expectations of management of the Company as at the effective date of such statements and,
in certain cases, infor mation provided or disseminated by third parties. Although the Company believes that the
expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information
obtained from third party sources is reliable, th ey can give no assurance that those expectations will prove to have been
correct. Readers are cautioned not to place undue reliance on forward-looking statements.
These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially
from results contemplated by the forward -looking statements. Accordingly, the actual events may differ materially from
those projected in the forward -looking statements. When relying on forward -looking statements to make deci sions,
investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue
reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements,
except as may be required by applicable securities laws.