The Prospector News

Gold Standard Announces C$16.1 Million Strategic Investment by Goldcorp Inc.

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Gold Standard Announces C$16.1 Million Strategic Investment by Goldcorp Inc.

 

 

 

 

 

Gold Standard Ventures Corp. (TSX-V: GSV) (NYSE MKT:GSV) is pleased to announce that Goldcorp Inc. (TSX:G) (NYSE: GG) has agreed to purchase, by way of private placement, 16,100,000 common shares of the Company at a price of C$1.00 per Common Share for gross proceeds of C$16,100,000.

 

 

The Financing is expected to close on or about February 8, 2016, following which Goldcorp will own (inclusive of shares currently held by Goldcorp) approximately 9.9% of the Company’s issued and outstanding shares on an undiluted basis, prior to giving effect to any shares purchased by OceanaGold Corporation pursuant to its existing equity participation right to acquire up to 19.9% of the issued and outstanding shares of the Company. The net proceeds of the Financing will be used to further advance the Company’s Railroad-Pinion project and for general corporate and working capital purposes.

 

 

Jonathan Awde, President, CEO and Director of Gold Standard commented, “We view this investment by Goldcorp as a validation of the exploration success we have had at the Railroad-Pinion project. With the proceeds from the private placement we will look to aggressively expand the 6km Dark Star corridor, the location of the recent North Dark Star discovery, which we believe has the potential to host a significant gold system.”

 

 

Provided that Goldcorp holds not less than 7.5% of the Company, Goldcorp will also have the following rights:

 

 
 
--  anti-dilution rights allowing it to maintain its equity ownership
    interest in Gold Standard; and
--  the right to participate in any future equity financings of Gold
    Standard to acquire up to a 19.9% ownership position in the Company
 

 

 

Macquarie Capital Markets Canada Ltd. is acting as financial advisor to the Company.

 

 

Gold Standard will pay a cash commission in connection with the Financing. The Company has applied to list the Common Shares on the TSX Venture Exchange and the NYSE MKT LLC. Listing will be subject to the Company fulfilling all of the listing requirements of the TSXV and the NYSE MKT. The Financing is not being offered in the United States.

 

 

ABOUT GOLD STANDARD VENTURES

 

Gold Standard is an advanced stage gold exploration company focused on district scale discoveries in Nevada. The Company’s flagship project, the Railroad-Pinion Gold Project, is located within the prolific Carlin Trend. The 2014 Pinion gold deposit acquisition offers Gold Standard a potential near-term development option and further consolidates the Company’s premier land package on the Carlin Trend. The Pinion deposit now has an NI43-101 compliant resource estimate consisting of an Indicated Mineral Resource of 20.84 million tonnes grading 0.63 grams per tonne (g/t) gold (Au), totaling 423,000 ounces of gold, and an Inferred Resource of 55.93 million tonnes grading 0.57 g/t Au, totaling 1,022,000 ounces of gold, using a cut-off grade of 0.14 g/t Au (announced September 10, 2014). In addition to the Pinion deposit, the Dark Star deposit, 2.1 km to the east of Pinion, hosts a maiden NI43-101 compliant resource estimate consisting of an Inferred Resource of 23.11 million tonnes grading 0.51 g/t Au, totaling 375,000 ounces of gold, using a cut-off grade of 0.14 g/t Au (announced March 3, 2015).

 

Posted February 1, 2016

Share this news article

MORE or "UNCATEGORIZED"


Uranium Royalty Corp. Closes $30 million Initial Public Offering and Announces Listing on the TSX Venture Exchange

Uranium Royalty Corp. (TSX-V: URC) is pleased to announce that it... READ MORE

December 6, 2019

Denison Completes CAD$4.7 Million Bought Deal Private Placement of Flow-Through Shares

Denison Mines Corp. (DML: TSX) (DNN: NYSE American) is plea... READ MORE

December 6, 2019

Scorpio Gold Reports Results of Drilling at the Keystone-Jumbo Area, Goldwedge Property, Nevada

Scorpio Gold Corporation (TSX-V:SGN) announces results of its fir... READ MORE

December 6, 2019

Nevada Exploration Closes Oversubscribed Financing

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

December 6, 2019

Ascot Exploration Drilling Intersects 17.29 g/t Gold Over 3.58 Metres in New Area West of Premier Portal

Ascot Resources Ltd (TSX: AOT) (OTCQX: AOTVF) is pleased to annou... READ MORE

December 6, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions