Alpha Gold North Completes Private Placement
Toronto, Ontario–(Newsfile Corp. – August 16, 2021) – Alpha Gold North Inc. (“Alpha Gold North” or the “Company“) is pleased to report that it has completed a non-brokered private placement of 7,750,000 common shares of the Company (the “Common Shares“) at a purchase price of $0.10 per Common Share for gross proceeds of approximately $775,000 (the “Offering“). The gross proceeds from the Offering will be used for the exploration of the Mine Brook Property located in Newfoundland and Labrador, payment of expenses incurred in connection with the Offering and general working capital purposes.
“Newfoundland is one of the most prospective jurisdictions in North America and we are hopeful that the land package we have acquired will provide us with several potential drilling targets,” commented Trumbull Fisher, Chief Executive Officer of Alpha Gold North. “The funds from the private placement will be used to complete our initial exploration work commitments on the property and then enable to us to move forward with a public listing.”
In accordance with applicable securities legislation, the Common Shares issued pursuant to the Offering are subject to an indefinite hold period and will only become tradable upon the Company becoming a reporting issuer in any province or territory of Canada.
About Alpha Gold North
Alpha Gold North is a mineral exploration and development company incorporated under the laws of the Province of Ontario. Alpha’s emphasis is on the exploration and development of its flagship project, the Mine Brook Property, situated in the Electoral District of Baie Verte – Green Bay of the Province of Newfoundland and Labrador.
Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Forward-looking statements can be identified by the expressions “seeks”, “expects”, “believes”, “estimates”, “will”, “target” and similar expressions. The forward-looking statements are not historical facts but reflect the current expectations of the Company regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this release include, but are not limited to, statements relating to the expected use of proceeds from the Offering. All forward-looking statements in this news release are qualified by these cautionary statements. The Company believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, the Company can give no assurance that the actual results or developments will be realized by certain specified dates or at all. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws. These forward-looking statements are made as of the date of this news release.
This news release is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and the communication of this release is not, and under no circumstances is it to be construed as, an offer to sell or an offer to purchase any securities in the Company or in any fund or other investment vehicle. This news release is not intended for U.S. persons. The Company’s shares are not and will not be registered under the U.S. Securities Act of 1933 and the Company is not and will not be registered under the U.S. Investment Company Act of 1940 (the “1940 Act“). U.S. persons are not permitted to purchase the Company’s shares absent an applicable exemption from registration under each of these Acts. In addition, the number of investors in the United States, or which are U.S. persons or purchasing for the account or benefit of U.S. persons, will be limited to such number as is required to comply with an available exemption from the registration requirements of the 1940 Act.
For additional information, contact:
Trumbull Fisher
Chief Executive Officer
[email protected]
416-917-5847
Alpha Gold North Inc.
365 Bay Street, Suite 800
Toronto, ON M5H 2V1
Not for distribution to U.S. news wire services or dissemination in the United States
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93298
