NOT FOR DISTRIBUTION TO THE UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Newcore Gold Ltd. ("Newcore" or the "Company") (TSXV:NCAU, OTCQX:NCAUF) is pleased to announce a non-brokered private placement financing under the Listed Issuer Financing Exemption (as defined below), whereby the Company intends to raise up to $5,000,000 through an offering of up to 17,241,380 units of the Company (the "Units") to be priced at $0.29 per Unit (the "Offering"). The securities offered under the Listed Issuer Financing Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws.
Each Unit will consist of one common share in the capital of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share of the Company at an exercise price of $0.40 per Common Share for a period of 12 months following the completion of the Offering.
The Company intends to use the net proceeds of the Offering to fund exploration and development activities at the Company's 100% owned Enchi Gold Project in Ghana, as well as for general corporate and working capital purposes. Finder's fees may be payable in accordance with the policies of the TSX Venture Exchange.
The Offering is scheduled to close on or about September 26, 2024, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions ("NI 45-106"), the Offering is being made to purchasers' resident in Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI- 45-106 (the "Listed Issuer Financing Exemption"). The securities offered under the Listed Issuer Financing Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws.
The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any applicable securities laws of any state of the United States and may not be offered ...
