The Prospector News

Clarity Gold Closes Second Tranche of $4.5 Million Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Clarity Gold Closes Second Tranche of $4.5 Million Private Placement

 

 

 

 

 

Clarity Gold Corp. (CSE: CLAR) (OTC: CLGCF) (FSE: 27G) is pleased to announce that it has completed the second and final tranche of its non-brokered private placement on January 28th, 2021 pursuant to which it has issued an aggregate of 3,167,340 units at a price of $0.96 per Unit for gross proceeds of $3,040,646.40. Each Unit consists of one common share in the capital of the Company and one-half of one common share purchase warrant. Each Warrant is exercisable into one additional Share at a price of $1.25 per Share for a period of one year from the closing date. The Company received an aggregate of $4,542,044.16 from the first and second tranche of the Offering.

 

“A healthy treasury will help Clarity meet its objectives as we gain attention as a gold explorer in the Abitibi region, one of the richest gold belts in Canada,” said James Rogers, CEO of Clarity. “All of the pieces are coming together for an exciting year and our team is excited to advance The Destiny Project in 2021.”

 

The Company paid cash finder’s fees of $149,061.29 and issued 155,270 finder’s warrants to certain finders in connection with the second tranche of the Offering. Each Finder’s Warrant is exercisable into one additional Share at a price of $0.96 per Share for a period of one year from the date of closing of the applicable tranche of the Offering.

 

The aggregate gross proceeds from the sale of the Offering will be used for the required payments and exploration expenditures in connection with the Company’s Destiny Project, for exploration to advance the understanding of the Company’s other mineral exploration properties, costs of operations, digital marketing and awareness campaigns and for working capital.

 

The securities issued under the Offering, including the Shares that may be issuable on exercise of the Warrants and the Finder’s Warrants, are subject to a statutory hold period expiring four months and one day from the date of closing of the Offering.

 

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 

About the Destiny Project

 

The 5,013 ha Destiny Project is located in the prolific Abitibi Greenstone Belt where more than 180 million ounces of gold have been produced historically and lies along a major structural break which is largely underexplored. The project has excellent infrastructure, with road access approximately 75 km NNE of the city of Val d’Or and has considerable work done to date including over 50,000 m of diamond drilling.

 

For a more detailed account, the reader is encouraged to refer to the Company’s website.

 

Qualified Person

 

Mr. Rory Kutluoglu P. Geo., a member of the advisory board and a consultant of the Company, is the Qualified Person (“QP”) under NI 43-101 for the technical information in this news release and has verified the data disclosed for the Destiny Project and approves the technical contents contained in this news release.

 

About Clarity

 

Clarity Gold Corp. is a Canadian mineral exploration company focused on the acquisition, exploration and development of gold projects in Canada. The Company has entered into an option agreement to purchase 100% of the Destiny Project, Clarity’s flagship asset, a gold-focused project in the mineral rich Abitibi region in Quebec. The Company is based in Vancouver, British Columbia, and is listed on the CSE.

 

Posted January 29, 2021

Share this news article

MORE or "UNCATEGORIZED"


Drilling intersects 505m of mineralized porphyry at Brama target, Bramaderos Project, Ecuador

Assays include 84m at 0.8g/t gold and 0.11% copper; 216m at 0.61g... READ MORE

June 21, 2021

Nova Royalty Acquires a 1.0% Net Proceeds Royalty on the West Wall Copper Project Jointly Owned by Anglo American and Glencore

Nova Royalty Corp. (TSX-V: NOVR) (OTCQB: NOVRF) is pleased to ann... READ MORE

June 18, 2021

Nevada Exploration Closes Oversubscribed $4.75M Financing

Nevada Exploration Inc. (TSX-V:NGE) (OTCQB:NVDEF) is pleased to a... READ MORE

June 18, 2021

Karus Gold Identifies Multiple Gold Vein Corridors at FG Gold

15,000 Meter Drill Program Planned to Expand Known Corridors and Discover New Corridors at De... READ MORE

June 17, 2021

Amarillo updates share capital after exercise of warrants and options

Research Capital Corporation (formerly Mackie Capital Corporation... READ MORE

June 17, 2021

Copyright 2021 The Prospector News