/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES./
VANCOUVER, BC, Oct. 18, 2021 /CNW/ - HighGold Mining
Inc. (TSX-V: HIGH) ("HighGold" or the
"Company") is pleased to announce that in connection with
its previously announced "bought deal" financing, the Company and a
syndicate of underwriters led by Cormark Securities Inc.
("Cormark") (collectively, the "Underwriters") have
agreed to increase the size of the previously announced financing.
The Company will now issue 7,500,000 common shares (the "Common
Shares") from the treasury of the Company, at a price of
$1.60 per Common Share (the
"Offering Price") for total gross proceeds to the Company of
approximately $12 million (the
"Offering").
In addition, the Company has granted the Underwriters an option
(the "Over-Allotment Option") to purchase up to an
additional 15% of the Common Shares of the Offering on the same
terms exercisable at any time up to 30 days following the closing
of the Offering, solely for market stabilization purposes and to
cover over-allotments, if any.
The net proceeds of the Offering are expected to be used for
exploration and development initiatives in connection with the
Company's Johnson Tract project and for working capital and general
corporate purposes.
The Offering is expected to close on or about October 27, 2021 or such other date as may be
agreed by the Company and Cormark and is subject to certain
conditions including, but not limited to, the receipt of all
necessary corporate and regulatory approvals, including the
approval of the TSX Venture Exchange (the "TSXV") and
applicable securities regulatory authorities.
The Offering will be qualified by way of a prospectus supplement
(the "Prospectus Supplement") to the Company's existing base
shelf prospectus in the provinces of British Columbia, Alberta and Ontario. The Prospectus Supplement (together
with the related base shelf prospectus) will be available on SEDAR
at www.sedar.com.
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
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 press 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, or any applicable
state securities laws, 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 registration requirements.
About HighGold
HighGold is a mineral exploration company focused on high-grade
gold projects located in North America. HighGold's flagship
asset is the high-grade Johnson Tract Gold (Zn-Cu) Project located
in accessible Southcentral Alaska, USA. The Company also controls a
portfolio of quality gold projects in the greater Timmins gold camp, Ontario, Canada that includes the
Munro-Croesus Gold property, which is renowned for its high grade
mineralization, and the large Golden
Mile and Golden Perimeter properties. HighGold's
experienced Board and senior management team, are committed to
creating shareholder value through the discovery process, careful
allocation of capital, and environmentally/socially responsible
mineral exploration.
On Behalf of HighGold Mining Inc.
"Darwin Green"
President & CEO
Website: www.highgoldmining.com
Twitter: @HighgoldMining
Additional notes:
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
applicable securities legislation (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 the Closing of the Offering, the
use of proceeds of the Offering and the exercise of the
over-allotment option 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 are 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.
