Ashley Gold Announces Financing for Spring Exploration
Summary
Ashley Gold Corp. (CSE: ASHL) (Ashley or the Company) announces a non-brokered private placement financing (the Offering) for aggregate proceeds of up to $150,000 (CDN) to advance the Howie, Tabor-Sakoose, and Burnthut Properties and for general working capital.We are looking to advance our properties with a drilling program and an Induced Polarization (IP) survey commented CEO, Darcy Christian. Each Unit is comprised of one common share and one-half of one common share purchase warrant (Warrant), with each full Warrant exercisable at an exercise price of $0.07 for a term of 24 months after the closing (Closing Date).If, on any 10 consecutive trading days occurring after four months and one day has elapsed following the Closing Date of the Offering, the closing sales price of the common shares (or the closing bid, if no sales were reported on a trading day) as quoted on the Canadian Securities Exchange is greater than CDN$0.09 per common share, the Company may provide notice in writing to the holders of the warrants by issuance of a press release that the expiry date of the warrants will be accelerated to the 30th day after the date on which the Company issues such press release.In connection with the issue and sale of the Units under the Offering, the Company may pay finder fees and finder warrants to eligible finders at the discretion of the board of directors.The gross proceeds will be used for the hard dollar costs for spring exploration as well as for general working capital purposes. Flow-through was raised in 2023 will be used in conjunction to this financing as well as a possible future Flow-Through financings in 2024.The Offering will be made available to existing shareholders of the Company who, as of the close of business on February 20, 2024, held common shares of the Company (and who continue to hold such common shares as of the closing date), pursuant to the prospectus exemption set out in B.C. Instrument 45-536 Exemption Form Prospectus Requirement for Certain Distributions Through an Investment Dealer. In accordance with the requirements of the investment dealer exemption, the Company confirms that there is no material fact or material change about the Company that has not been generally disclosed.The Offering is subject to all necessary regulatory approvals including acceptance from the Canadian Securities Exchange.