VANCOUVER, BC / ACCESSWIRE / June 17, 2020 / Dynasty Gold Corp. (TSXV:DYG)(FWB:D5G)(OTC PINK:DGDCF) ("Dynasty" or the "Company") is pleased to announce that subject to the Exchange's approval, it closes a non-brokered private placement of 4,000,000 units for gross proceeds of $200,000. Each unit consists of one common share at $0.05, and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at $0.10 for the first twelve months from closing and at $0.20 for six months thereafter. The Company shall have the right to call the outstanding Warrants for expiry upon a 20 days notice in the event that the closing price of the common shares of the Company on the TSX-V is above $0.15 for 10 consecutive trading days for the first twelve months from closing and above $0.25 for six months thereafter. The units issued under the private placement are subject to a four-month hold period from the date of closing.
The Company will use the proceeds of the private placement for general working capital.
The Company has applied for an exploration permit for the Thundercloud project last year. However, due to the outbreak of the COVID-19 pandemic, the Province of Ontario is under a State of Emergency, which has delayed the permit application review and consultation. The Ministry of Energy, Northern Development and Mines (ENDM) assures that they will continue to work with both the Company and communities to advance the process as much as possible during this period. Further updates will be provided when available. Exploration program planning and data review are on-going, in preparation for the field work when the area can be open safely.
About Dynasty Gold Corp.
Dynasty Gold Corp. is a Canadian gold exploration company currently focused on gold exploration in North America. For more information on the Company and its projects, please refer to the website www.dynastygoldcorp.com.
ON BEHALF OF THE BOARD OF DYNASTY GOLD CORP.
Ivy Chong, President & CEO
For additional information please contact:
Phone: 604.633.2100. Email: [email protected]
This press release contains certain "forward-looking statements" that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: Dynasty Gold Corp.