Not for Distribution in the United States or Through United States Wire Services
VANCOUVER, BC / ACCESSWIRE / November 28, 2018 / Catalina Gold Corp. (the "Company") (NEX:CA.H) announces that it proposes to conduct a non-brokered private placement offering (the "Offering") of common shares (each "Share") at a price of $0.12 per Share for total gross proceeds of up to $500,000.
Proceeds of the Offering are intended to be used for expenses associated with completing the previously announced joint venture with Thrive Cannabis Inc. (the "Transaction") and for general working capital expenses.
In connection with the Offering the Company agreed to pay a cash commission to registered brokers equal to 8% of the amount of proceeds raised under the Offering, as well as non-transferable warrants ("Broker Warrants") equal to 8% of the total number of Shares issued by the Company under the Offering. Each Broker Warrant shall entitle the holder to purchase one additional common share of the Company at a price of $0.12 per common share for a period of 24 months from the closing date.
All Shares issued under the Offering will be subject to a statutory four month hold period. The Offering is subject to completion and execution of appropriate documentation and acceptance for filing by the NEX Board of the TSX Venture Exchange.
The Company also wishes to announce that effective today Mark Lawson has been appointed interim Chief Financial Officer of the Company in place of the former CFO who has resigned to pursue other interests. The resignation of the former CFO was not due to any disagreement on any matter related to the Company’s operations, policies or practices.
FOR FURTHER INFORMATION PLEASE CONTACT:
Marc Branson
Catalina Gold Corp.
Tel: (604) 816 2555
Email: [email protected]
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
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the timing of the Offering, the use of proceeds from the Offering, and the future plans or prospects of the Company. 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". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Catalina Gold Corp., as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company 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. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis that is available on the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities 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 state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE: Catalina Gold Corp.