Angus Gold Announces $4.6 Million Private Placement, Including Investment from Wesdome Gold Mines
Summary
We have planned our largest program to date and are eager to begin our drilling operations at Dorset and the Splay Zones this week, said Breanne Beh, chief executive officer of Angus.The gross proceeds from the Offering will be used by the Company to incur eligible Canadian exploration expenses that will qualify as flow-through mining expenditures as such terms are defined in the Income Tax Act (Canada) (the Qualifying Expenditures) related to the Companys mineral projects in Ontario, on or before December 31, 2025. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Forward-looking information in this news release includes, but is not limited to, the anticipated Offering, including the size thereof, the expected timing to complete the Offering, the ability to complete the Offering on the terms provided herein or at all, the receipt of all necessary approvals, the use of the gross proceeds of the Offering to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures; the renouncement of the Qualifying Expenditures in favour of the subscribers of the FT Units, the Companys objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the ability to anticipate and counteract the effects of COVID-19 pandemic on the business of the Company, including without limitation the effects of COVID-19 on the capital markets, commodity prices supply chain disruptions, restrictions on labour and workplace attendance and local and international travel, failure to receive requisite approvals in respect of the transactions contemplated by the Agreement, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Companys public documents filed on SEDAR. Angus is a corporation existing under the laws of British Columbia with its head office at 110 Yonge St., Suite 1601, Toronto, Ontario, M5C 1T4.