Catalina Gold Corp. Announces Closing of Non-Brokered Private Placement and Acquisition of Interest in Yurani Concession

Donnerstag, 16.02.2017 00:00 von ACCESSWIRE - Aufrufe: 54

Vancouver, BC (FSCwire) - Catalina Gold Corp. (the “Corporation”) (NEX:CA.H) is pleased to announce that further to its news release of January 30, 2017, it has completed the non-brokered private placement of 10,451,800 units (each a “Unit”) at a price of $0.05 per Unit for gross proceeds of $522,590 (the “Offering”). Each Unit consists of one common share in the capital of the Corporation (each, a “Share”) and one share purchase warrant (each, a “Warrant”), with each Warrant entitling the holder to purchase one additional Share at a price of $0.10 per Share for a period of one year from the date of issuance.

In connection with the Offering, the Corporation issued 565,800 warrants (each, a “Broker Warrant”) to Mackie Research Capital Corporation. Each Broker Warrant was issued on the same terms and conditions as the Warrants. All of the securities issuable in connection with the Offering will be subject to a hold period expiring June 15, 2017.

Certain proceeds of the Offering were used to make the US$300,000 payment in connection with the acquisition of a 6% shareholding interest in Minexos S.A.S. (“Minexos”), the company holding all of the right, title and interest in a mineral concession located in the municipality of Remedios, Antioquia Department, Colombia, in the area of the Corporation’s recently acquired Yurani Mill. The remainder of the proceeds of the Offering are intended to be used for general operational expenses and working capital purposes. The acquisition of the interest in Minexos was made in accordance with the terms of the letter of intent dated as of January 26, 2017 between the Corporation and Oro Sur S.A.S. as disclosed in the Corporation’s January 30, 2017 news release.

FOR FURTHER INFORMATION PLEASE CONTACT:

Marc Branson

Catalina Gold Corp.

Tel: 778.819.0383

Email: investors@catalinagold.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Forward Looking Statements

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Although the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement. Specific risks included that we may not obtain regulatory approval. General risks include the reliance on available data and assumptions and judgments used in the interpretation of such data, the speculative and uncertain nature of exploration and development, exploration and development costs, capital requirements and the ability to obtain financing, volatility of global and local economic climates, share price volatility, estimate price volatility, changes in equity markets, increases in costs, exchange rate fluctuations and other risks involved in the mineral exploration and development industry. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond our control. Accordingly, readers should not place undue reliance on forward-looking statements or information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Corporation's most recent annual management's discussion and analysis that is available on the Corporation's profile on SEDAR at www.sedar.com. The Corporation does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Catalina02152017.pdf
Source: Catalina Gold Corp. (TSX Venture:CA.H)

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