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VANCOUVER , Jan. 21, 2019 /CNW/ - Warrior Gold Inc. (TSX-V - WAR) ("Warrior Gold" or the "Company") is pleased to announce a non-brokered private placement of 5,000,000 flow-through common shares at a price of $0.10 per flow-through common share to raise gross proceeds of $500,000 (the "Private Placement").
Danièle Spethmann, President and CEO of Warrior Gold commented, "The proceeds of this financing will be utilized to fund a 2,000 metre drill program anticipated to start in early February 2019 . The drill program will test geological targets identified by the Company's 2018 property work programs that combined geophysical and surface data with historical property information that was compiled into a 3D model providing the Company with a valuable exploration tool."
The Company may pay finder's fees on a portion of the Private Placement in accordance with applicable securities laws and the policies of the TSX Venture Exchange. All securities issued under the Private Placement will be subject to a four month and one day "hold period" under applicable Canadian securities legislation.
The Private Placement is subject to approval of the TSX Venture Exchange.
About Warrior Gold Inc.
Warrior Gold is a TSX-V listed company focused on gold exploration at its Goodfish-Kirana Property located five kilometers from the town of Kirkland Lake , Ontario. The Goodfish-Kirana Property is located in the historic Kirkland Lake Gold Camp which is situated in the prolific Abitibi Greenstone Belt; recognized as one of the world's highest-grade greenstone belts with over 200 million ounces of gold produced to date.
The Goodfish-Kirana Property is 11.5 km long by roughly 3 km wide (34 km2) and contains three major structural trends, the East West trending Kirana Deformation Zone, the North East trending Goodfish Deformation Zone; and the Victoria Creek DZ on the recently acquired Sutton claims. The Property contains numerous historical gold showings, including 18 historical pits and shafts. The Company is exploiting this largely underexplored land package with modern exploration technology and regional geological expertise.
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.
Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by the Company. Although Warrior Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Warrior Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Company's management discussion and analysis of the financial condition and results of operations for the year ended March 31, 2018 and the second quarter ended September 30, 2018 , which are available on the Company's profile at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Warrior Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
SOURCE Warrior Gold Inc.
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