Otso Gold Announces US $ 11.155 Million Proceeds From Exercise Of Warrants And Company Update
The Company intends to use the proceeds from the exercise of the warrants to enable it to continue the Company’s return to the production of warrants.
In addition, the Company expects the previously announced NI 43-101 Technical Report update from
For more information, please contact:
1 917 287-0716
Early warning disclosure
The following information is provided in accordance with the alert requirements of National Instrument 62-104 and National Instrument 62-103 relating to the common shares of the capital of the Company (the “Ordinary actions“).
Prior to the exercise of the warrants, Brunswick Gold beneficially owned and controlled 284,944,440 common shares and 284,944,440 warrants, representing approximately 46.03% of the issued and outstanding common shares at closing on on an undiluted basis, and approximately 63.05% of the issued and outstanding common shares outstanding common shares on a partially diluted basis, assuming the exercise of all warrants. At the end of the exercise of the warrants, Brunswick Gold acquired beneficial ownership and control of 569,888,880 common shares, representing approximately 63.05% of the issued and outstanding common shares on an undiluted basis,
Brunswick Gold first acquired the common shares and warrants for investment purposes. As described in the management information circular prepared by the Company dated
For more information and to obtain a copy of the updated alert report filed under Canadian provincial and territorial securities laws applicable in connection with the Transaction, please see the Company’s profile on the website SEDAR Web (www.sedar.com) or contact
The Company warns that it has neither defined nor delimited proven or probable reserves for the
The Company also warns that the Company’s decision to proceed with the development of the
This press release contains forward-looking statements about the Company based on management’s current expectations and assumptions, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All of these statements are forward-looking statements under applicable Canadian securities legislation. All statements contained in this document that are not statements of historical fact can be considered as forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution our readers of this press release not to place undue reliance on our forward-looking statements, as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set out in the Company’s continuous disclosure documents which can be viewed on SEDAR (www.sedar.com) under the Company’s issuer profile. The Company does not intend and disclaims any obligation, except as required by law, to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.
About the company
The Otso gold mine is fully built, fully licensed, all infrastructure is in place, two open pits
and progressing towards restarting at a rate of 2 million tonnes per year.
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