VANCOUVER, BC / ACCESSWIRE / May 28, 2021 / Sassy Resources Corporation ("Sassy" or the "Company") (CSE:SASY)(OTCQB:SSYRF)(FSE:4E7) is pleased to announce that Mr. Eric Sprott is increasing his ownership in Sassy subsidiary Gander Gold Corporation to 17.35% (10,666,666 special warrants) by purchasing $1.6 million of a $2.2 million private placement in Gander Gold. This financing is expected to close in early June 2021.
Mr. Mark Scott, Sassy President and CEO, commented: "The additional $2.2 million injection into Gander Gold, nearly 75% of it coming from Mr. Sprott, will allow us to significantly expand our current program across multiple projects that comprise the largest land position of any public company in Newfoundland. We look forward to updating shareholders on our exploration progress in Newfoundland in the near future. Meanwhile, we're working diligently on a plan to list Gander Gold on a Canadian exchange. We appreciate Mr. Sprott's additional investment in Gander Gold which lifts our total raise to $5,000,000 to date."
Mr. Sprott is purchasing eight million special warrants of Gander Gold at $0.20 per special warrant, a 33% premium to the previous private placement price on a post-consolidated basis (refer to May 18, 2021 news release). Strategic investors are acquiring the balance of three million special warrants at $0.20 per special warrant. The special warrants will be converted into common shares at a later date.
About Sassy Resources Corporation
Sassy Resources is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal and base metal projects in North America. Its focus is the Foremore Gold-Silver Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest B.C.'s prolific Golden Triangle, and the Central Newfoundland Gold Belt.
Caution Regarding Forward Looking Statements
Investors are cautioned that, except for statements of historical fact, certain information contained in this document includes "forward looking information", with respect to a performance expectation for Sassy Resources Corporation. Such forward looking statements are based on current expectations, estimates and projections formulated using assumptions believed to be reasonable and involving a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. Such factors include, without limitation, fluctuations in foreign exchange markets, the price of commodities in both the cash market and futures market, changes in legislation, taxation, controls and regulation of national and local governments and political and economic developments in Canada and other countries where Sassy carries out or may carry out business in the future, the availability of future business opportunities and the ability to successfully integrate acquisitions or operational difficulties related to technical activities of mining and reclamation, the speculative nature of exploration and development of mineral deposits, including risks obtaining necessary licenses and permits, reducing the quantity or grade of reserves, adverse changes in credit ratings, and the challenge of title. The Company does not undertake an obligation to update publicly or revise forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Some of the results reported are historical and may not have been verified by the Company.
Chief Executive Officer & Director
Sassy Resources Corporate Communications/IR
Managing Director - Star Finance GmbH
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SOURCE: Sassy Resources Corporation