Goldplay Arranges and Closes Flow Through Private Placement for a Total $750,000

Rhea-AI Summary

Goldplay Mining (OTCQB: AUCCF) has successfully closed a non-brokered private placement, raising $750,000 through the issuance of 4,411,900 flow-through units at $0.17 each. Each unit comprises one common share and half a warrant, allowing purchase of additional shares at $0.20 until October 1, 2023. The funds will support Canadian exploration expenses in British Columbia. The company also paid $45,000 in finder’s fees and granted 264,714 warrants to finders. Final approval from the Toronto Stock Exchange Venture is pending.

Positive

• Raised $750,000 through flow-through units.
• Funds designated for exploration in British Columbia.
• Institutional investment indicates confidence in the company's projects.

Negative

• None.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / October 1, 2021 / Goldplay Mining Inc. (TSXV:AUC)(OTCQB:AUCCF)(FRA:9FY) ("Goldplay" or the "Company"), is pleased to announce that it has arranged and closed a non-brokered private placement of flow-through units of the Company (the "FT Units") for a total of $750,000 with two institutional investors.

The Company has issued a total of 4,411,900 FT Units at a price of $0.17 per FT Unit, for gross proceeds of $750,023.

Each FT Unit is comprised of one "flow-through" share (a "Common Share") and one half non-transferable common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one additional Common Share the Company at an exercise price of $0.20 until October 1 2023. Proceeds from the sale of FT shares will be used to incur Canadian exploration expenses as defined in subsection 66.1(6) of the Income Tax Act and flow-through mining expenditures as defined in subsection 127(9) of the Income Tax Act. The proceeds from the sale of the FT Units will be used to fund eligible exploration expenditures on Company's projects in British Columbia.

All securities issued pursuant to the private placement are subject to a statutory hold period of four months plus one day expiring on February 2, 2022 in accordance with applicable Canadian securities laws.

In connection with the Offering, the Company paid aggregate cash finders' fees to qualified finders of $45,000 representing 6% of the gross proceeds raised. The Company also issued 264,714 non-transferable finders' warrants to qualified finders, with each finders' warrant being exercisable to acquire one Common Share at an exercise price of $0.17 until October 1, 2023.

The financing is subject to receiving the final approval of the Toronto Stock Exchange Venture.

About Goldplay Mining

Goldplay Mining is a Canadian public company focused on exploring and advancing gold copper projects located in top mining jurisdictions that host the potential for making world class discoveries.

On behalf of the Board of Directors

"Catalin Kilofliski"

Catalin Kilofliski

President, CEO & Director

For further information please contact:

Goldplay Mining Inc.
Mr. Catalin Kilofliski, President & CEO
Suite 650 - 1021 West Hastings Street
Vancouver, BC V6E 0C3
T: (604) 655-1420
E: catalin@goldplaymining.ca
www.goldplaymining.ca

Neither the 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.

SOURCE: Goldplay Mining Inc.

View source version on accesswire.com:
https://www.accesswire.com/666448/Goldplay-Arranges-and-Closes-Flow-Through-Private-Placement-for-a-Total-750000

FAQ

What is the purpose of the $750,000 raised by Goldplay Mining (AUCCF)?

The $750,000 raised will be used to fund Canadian exploration expenses and flow-through mining expenditures on the company's projects in British Columbia.

What are the terms of the warrants issued in the private placement by Goldplay Mining?

Each warrant allows the purchase of one additional common share at an exercise price of $0.20 until October 1, 2023.

How many flow-through units did Goldplay Mining issue?

Goldplay Mining issued a total of 4,411,900 flow-through units.

What are the finder's fees associated with Goldplay Mining's latest financing?

Goldplay Mining paid aggregate cash finders' fees of $45,000, which is 6% of the gross proceeds raised.

When does the statutory hold period for the securities issued by Goldplay Mining expire?

The statutory hold period for the securities expires on February 2, 2022.