Stakeholder Announces Financing and Board Update
Toronto, Ontario–(Newsfile Corp. – October 5, 2016) – Stakeholder Gold Corp.(TSXV: SRC) (“Stakeholder” or the “Company”) is pleased to announce that it is closing on a final $602,558 of financing. Closing on this second tranche financing results in issuance of 1,205,115 units with each unit comprised of one share, priced at $0.50, and one half of one common share purchase warrant. Warrants are priced at $0.75 and expire October 5th, 2018.
In connection with the financing, Stakeholder will pay to Bonaventure Exploration Ltd. $39,706 CAD and 79,412 commission warrants and to Finley Holdings Ltd. $6,000 CAD, 12,000 commission warrants and 3,000 commission units on the same terms as the units issued under the financing. The commission warrants are priced at $0.50 and expire October 5th,, 2018. The hold period for shares issued in the financing will be 4 months and funds will be used for exploration of the Company’s Ballarat gold project and for general working capital purposes.
Stakeholder is also pleased to welcome Stephen Walmsley to the Board of Directors. Stephen is a graduate of Queen’s University (HBA 1977) and of an advanced strategic leadership program held at Harvard University (1993). His career was in Canadian and international banking and securities, followed by several years working with leading Wall Street and Bay Street firms, focused on advising and coaching their leadership. He has worked extensively as an expert consultant and as a business advisor, supporting the success of founders and growth oriented executive teams.
Stakeholder has issued 500,000 stock options to Officers, Directors and Consultants to the Company. These stock options have a $0.61 (61 cent) strike price and a three year term expiring October 5th, 2019.
About Stakeholder Gold Corporation
Stakeholder Gold Corp. is a Canadian mineral exploration company headquartered in Toronto, Canada. The primary focus of Stakeholder is to explore and develop the Ballarat Gold Property in the White Gold District of the Yukon Territory.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more Stakeholder Gold Corp. information, please contact
Christopher J. Berlet, CFA
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.
Forward-Looking Statements: This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words “estimate”, “project”, “anticipate”, “expect”, “intend”, “believe”, “hope”, “may” and similar expressions, as well as “will”, “shall” and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they were made. The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the prevailing price of natural gas, the Canadian-United States exchange rate, amount of gas produced that could affect revenues and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Company’s annual financial statements and MD&A.