/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, July 6, 2020 /CNW/ - HighGold Mining
Inc. (TSX-V: HIGH) (OTCQX: HGGOF) ("HighGold" or
the "Company") has entered into an agreement with Cormark
Securities Inc. on behalf of a syndicate of underwriters
(collectively the "Underwriters") pursuant to which the
Underwriters have agreed to purchase on a bought deal private
placement basis, 4,630,000 common shares (the "Shares") at a
price of C$1.73 per Share (the
"Offering Price"), for gross proceeds to the Company of
approximately C$8.0 million (the
"Offering"). The Underwriters have also been granted an
option, exercisable in whole or in part, at any time prior to the
closing date of the Offering, to sell up to an additional 694,500
Shares at the Offering Price, which would result in
additional gross proceeds of approximately C$1.2 million.
The Offering is scheduled to close on or about July 28, 2020. The Company intends to use the net
proceeds of the Offering to for mineral exploration and general
corporate purposes, including expanding the scope and the scale of
its recently commenced 2020 Johnson Tract drill program in
Alaska, USA.
The Offering is subject to certain conditions including, but not
limited to, the receipt of all necessary approvals including the
approval of the TSX Venture Exchange and any applicable securities
regulatory authorities. All securities issued in connection with
the Offering will be subject to a four-month and one day hold
period in Canada.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. This news release
does not constitute an offer of securities for sale in the United States. The securities being
offered have not been, nor will they be, registered under the
United States Securities Act of 1933, as amended, and such
securities may not be offered or sold within the United States absent registration under
U.S. federal and state securities laws or an applicable exemption
from such U.S. registration requirements.
On Behalf of HighGold Mining Inc.
"Darwin Green"
President & CEO
Neither 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 news release includes
certain "forward-looking information" within the meaning of
Canadian securities legislation and "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 (collectively "forward looking
statements"). Forward-looking statements include predictions,
projections and forecasts and are often, but not always, identified
by the use of words such as "seek", "anticipate", "believe",
"plan", "estimate", "forecast", "expect", "potential", "project",
"target", "schedule", "budget" and "intend" and statements that an
event or result "may", "will", "should", "could" or "might" occur
or be achieved and other similar expressions and includes the
negatives thereof. All statements other than statements of
historical fact included in this release, including, without
limitation, statements regarding closing of the Offering, use of
proceeds, receipt of various approvals, and other future plans,
objectives or expectations are forward-looking statements that
involve various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements. Forward-looking statements are based on a number
of material factors and assumptions. Important factors that could
cause actual results to differ materially from Company's
expectations include actual exploration results, changes in project
parameters as plans continue to be refined, results of future
resource estimates, future metal prices, availability of capital
and financing on acceptable terms, general economic, market or
business conditions, uninsured risks, regulatory changes, defects
in title, availability of personnel, materials and equipment on a
timely basis, accidents or equipment breakdowns, delays in
receiving government approvals, unanticipated environmental impacts
on operations and costs to remedy same, and other exploration or
other risks detailed herein and from time to time in the filings
made by the Company with securities regulators. Although the
Company has attempted to identify important factors that could
cause actual actions, events or results to differ from those
described in forward-looking statements, there may be other factors
that cause such actions, events or results to differ materially
from those anticipated. There can be no assurance that
forward-looking statements will prove to be accurate and
accordingly readers are cautioned not to place undue reliance on
forward-looking statements.
SOURCE HighGold Mining Inc.
