TORONTO, ON / ACCESSWIRE / March 27, 2019 / AurCrest Gold Inc. (the "Company" or "AurCrest") (TSX-V: AGO) (FRANKFURT: TM8A, WKN: A0YG1K) is pleased to announce that Mr. Stan Beardy of Muskrat Dam First Nation will be joining the Company's Board of Directors. Mr. Beardy's appointment is subject to approval of the TSX Venture Exchange ("TSXV").
Mr. Beardy has proven his leadership skills in the fields of politics, business, and community development over a forty-five year period. Serving as Chief of Muskrat Dam First Nation for fifteen years, as the Grand Chief of the Nishnawbe-Aski Nation for twelve years, and as the Ontario Regional Chief with the Chiefs of Ontario for three years, Mr. Beardy has developed a keenly refined sense for politics at the community, regional, and national levels. Mr. Beardy's deep experience in economic and organizational development regarding health, education, employment, tourism, and indigenous business, and how they interconnect regionally, nationally and internationally, will be of great value to our team.
The long years of service to his people and their communities has brought with it an understanding of social development, land use, traditional justice, peace-keeping - particularly as it relates to Federal and provincial matters - and infrastructure and large-scale economic projects. As a Chief of some 30 years of experience, Mr. Beardy has access to an extensive professional network, at all levels locally and nationally, and has promoted Indigenous culture and business globally, ranging from sessions in India to the United Nations in New York. We thank Mr. Beardy for bringing his business acumen to AurCrest, and look forward to his assistance in advancing projects in remote regions of Northwestern Ontario, the traditional territory of the Nishnawbe people, to the Canadian and Global markets.
AurCrest is also pleased to announce the offering of a non-brokered private placement of up to 10,000,000 working capital units (the "WC Units") for up to $500,000 (the "WC Offering").
Each WC Unit is priced at $0.05 and consists of one (1) common share and one (1) common share purchase warrant ("WC Warrant"). Each WC Warrant entitles the holder to purchase one (1) common share (a "WC Warrant Share") at a price of $0.075 per WC Warrant Share for a period of until three (3) years following the closing of the WC Offering (the "Closing Date").
Eligible Finders may receive up to 7% of the value of proceeds of the sale of WC Units in cash and up to 8% of the number of WC Units sold in the form of broker warrants (the "WC Broker Warrants"), with each WC Broker Warrant entitling the holder to acquire one (1) WC Unit at a price of $0.05 for a period of three (3) years from the Closing Date.
All securities issued under the WC Offering are subject to a statutory four month hold period and TSXV approval
About AurCrest Gold Inc.
AurCrest is a mineral exploration company focused on the acquisition, exploration, and development of gold properties. AurCrest has a portfolio of properties in Ontario, which include the Richardson Lake and Bridget Lake gold properties.
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Forward Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither 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.
SOURCE: AurCrest Gold Inc.