Trading Symbol: TSX-V: ARTG
All amounts are in Canadian Dollars unless
otherwise noted
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/
VANCOUVER, BC, Oct. 14, 2022 /CNW/ - Artemis Gold Inc.
(TSXV: ARTG) ("Artemis" or the "Company") is pleased
to announce that it has closed its previously announced equity
financing of $175 million, via the
issuance of an aggregate of 38,890,000 common shares (the
"Common Shares") at a price of $4.50 per Common Share (the "Offering
Price") for aggregate gross proceeds of $175,005,000.
National Bank Financial, as sole bookrunner and lead
underwriter, together with RBC Capital Markets and Stifel GMP as
co-lead underwriters, on behalf of a syndicate of underwriters
(which included BMO Nesbitt Burns Inc., Canaccord Genuity Corp.,
Scotia Capital Inc., Haywood Securities Inc., PI Financial Corp.,
Cormark Securities Inc., and Paradigm Capital Inc.) (collectively,
the "Underwriters"), purchased on a bought deal basis
19,112,000 Common Shares at the Offering Price (the "Bought Deal
Offering") for gross proceeds of $86,004,000 (the "Bought Deal Gross
Proceeds").
In addition to the Bought Deal Offering, certain management,
insiders and shareholders, purchased, pursuant to a separate
non-brokered offering, 19,778,000 Common Shares at the Offering
Price for gross proceeds of $89,001,000 (the "Non-Brokered
Offering", together with the Bought Deal Offering, the
"Offering").
The Common Shares issued under the Bought Deal Offering and the
Non-Brokered Offering were offered pursuant to two separate
prospectus supplements each dated October 7,
2022 (the "Supplements") to the Company's base shelf
prospectus dated January 12, 2021.
The terms of the Bought Deal Offering and the Non-Brokered Offering
were described in the Supplements which were filed with the
securities regulators in each of the provinces and territories of
Canada pursuant to the Supplement,
and in the United States by way of
a private placement.
The net proceeds of the Offering will be used to fund permitting
and development costs for the Company's Blackwater Gold Project and
for general corporate purposes.
The Common Shares offered have not been registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent
registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the Common Shares in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
ARTEMIS GOLD INC.
On behalf of the Board of Directors
"Steven Dean"
Chairman and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding
Forward-Looking Information
This news release contains certain "forward looking
statements" and certain "forward-looking information" as defined
under applicable Canadian and U.S. securities laws (together,
"forward-looking statements"). Forward-looking
statements can generally be identified by the use of
forward-looking terminology such as "may", "will", "expect",
"intend", "estimate", "anticipate", "believe", "continue", "plans",
"potential" or similar terminology. Forward-looking statements in
this news release include, but are not limited to, statements and
information related to the use of proceeds from the Offering; and
other statements regarding future plans, expectations, guidance,
projections, objectives, estimates and forecasts, as well as
statements as to management's expectations with respect to such
matters.
Forward-looking statements and information are not historical
facts and are made as of the date of this news release. These
forward-looking statements involve numerous risks and uncertainties
and actual results may vary. Important factors that may cause
actual results to vary include without limitation, the ability of
the Company to accomplish its plans and objectives with respect to
the Blackwater Gold Project within the expected timing or at all;
the timing and receipt of certain approvals, changes in commodity
and power prices, changes in interest and currency exchange rates,
risks inherent in exploration estimates and results, timing and
success, inaccurate geological and metallurgical assumptions
(including with respect to the size, grade and recoverability of
mineral reserves and resources), changes in development or mining
plans due to changes in logistical, technical or other factors,
unanticipated operational difficulties (including failure of plant,
equipment or processes to operate in accordance with
specifications, cost escalation, unavailability of materials,
equipment and third party contractors, delays in the receipt of
government approvals, industrial disturbances or other job action,
and unanticipated events related to health, safety and
environmental matters), political risk, social unrest, and changes
in general economic conditions or conditions in the financial
markets. In making the forward-looking statements in this news
release, the Company has applied several material assumptions,
including without limitation, the assumptions that: (1) market
fundamentals will result in sustained mineral demand and prices;
(2) the receipt of any necessary approvals and consents in
connection with the development of any properties; (3) the
availability of financing on suitable terms for the development,
construction and continued operation of any mineral properties; and
(4) sustained commodity prices such that any properties put into
operation remain economically viable. The actual results or
performance by the Company could differ materially from those
expressed in, or implied by, any forward-looking statements
relating to those matters. Accordingly, no assurances can be given
that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do so, what
impact they will have on the Offering, results of operations or
financial condition of the Company. Except as required by law, the
Company is under no obligation, and expressly disclaim any
obligation, to update, alter or otherwise revise any
forward-looking statement, whether written or oral, that may be
made from time to time, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
SOURCE Artemis Gold Inc.