TSX-V:MAS
/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN
THE UNITED STATES OR TO U.S. NEWS
AGENCIES./
VANCOUVER, BC, May 5, 2022
/CNW/ - MAS Gold Corp. ("MAS Gold" or the
"Company") – (TSXV: MAS) is pleased to announce a
non-brokered private placement of a minimum of $2,000,000 and up to a maximum of $3,000,000 through the sale of units of the
Company (the "Units") at a price of $0.10 per Unit (the "Offering").
Each Unit consists of one common share (a "Common Share")
and one (1) Common Share purchase warrant (a "Warrant").
Each Warrant is exercisable to acquire one Common Share (a
"Warrant Share") at a price of $0.20 for 24 months after the closing of the
Offering, subject to early expiry if, commencing four months after
the closing of the Offering, the daily volume weighted average
trading price of the Common Shares exceeds $0.30 for 10 consecutive trading days.
MAS Gold intends to use the net proceeds from the Offering to
assist the Company in advancing its portfolio of prospective
projects as well as working capital requirements and other general
corporate purposes.
The Units to be issued under the Offering will be offered by way
of private placement in each of the provinces of Canada, and such other jurisdictions as may be
determined by MAS Gold, in each case, pursuant to applicable
exemptions from the prospectus requirements under applicable
securities laws.
The Offering is subject to certain conditions including, but not
limited to, the receipt of all necessary approvals including the
approval of the TSXV. The securities issued via the Offering will
be subject to a statutory four-month restricted resale period. MAS
Gold will pay finder's fees on a portion of the Offering in
accordance with applicable securities laws and the policies of the
TSXV.
MAS Gold advises that the insiders of MAS Gold may participate
in the Offering, which will be completed pursuant to available
related party exemptions under MI 61-101.
About MAS Gold Corp.
MAS Gold Corp. is a Canadian mineral exploration company focused
on exploration projects in the prospective La Ronge Greenstone Belt
of Saskatchewan. In the belt, MAS
Gold Corp. operates the Greywacke, North
Lake and Point advanced gold projects, each hosting
drill-intercepted zones of gold mineralization. MAS Gold's NI
43-101 Technical Report of June 1,
2016 concerning the Greywacke deposit is available on SEDAR
and on MAS Gold's website: www.masgoldcorp.com.
On Behalf of the Board of Directors
of MAS Gold Corp.
Jim Engdahl
President & CEO
t: 306-986-5722
c: 306-262-4964
This news release does not constitute an offer to sell, or
the solicitation of an offer to buy securities in any jurisdiction
in which such offer or solicitation would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction.
The securities offered under the Offering have not been and
will not be registered under the United States Securities Act of
1933, as amended (the "Securities Act"), or the securities laws of
any state of the United States,
and may not be offered or sold in the
United States or to, or for the account or benefit of, any
U.S. Person (as defined in Regulation S of the Securities Act) or a
person in the United States,
unless an exemption from such registration requirements is
available.
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 news release.
SOURCE MAS Gold Corp
