GoldSpot Discoveries Corp. Announces $10 Million Bought Deal Offering
Summary
In the event that the option is exercised in its entirety, the aggregate gross proceeds of the offering will be C$11.5 million.The Company plans to use the net proceeds from the offering for research and development, investment capital and general corporate expenses.The offering is scheduled to close on or about June 1, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities. In connection with the offering, the Company will pay a cash commission to the Underwriter, and shall issue such number of broker warrants to the Underwriter as is equal to 6.0% of the aggregate number of Common Shares sold pursuant to the Offering (reduced to 3.0% in respect of purchasers of $1,000,000 of the Presidents List), each exercisable to acquire one Common Share at an exercise price of C$0.80 for a period of 24 months following the closing of the offering.The Common Shares will be offered by way of a short form prospectus to be filed in all of the provinces of Canada (other than the Province of Quebec) pursuant to National Instrument 44-101 Short Form Prospectus Distributions and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The Common Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.Certain of the statements made and information contained herein, including the use of proceeds, closing of the offering and receipt of all required regulatory approval is "forward-looking information" within the meaning of applicable Canadian securities legislation or "forward-looking statements" within the meaning of the Securities Exchange Act of 1934 of the United States. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to foreign currency fluctuations; risks inherent in the mineral resource industry; the possibility that future operations will not be consistent with the Companys expectations; the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, delays or the inability to obtain necessary regulatory and governmental permits; and other risks and uncertainties, including those described under risk factors in the Companys current Annual Information Form and management discussion and analysis. Accordingly, readers are advised not to place undue reliance on forward-looking statements.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 release.For further information: GoldSpot Discoveries Corp.: Denis Laviolette, Executive Chairman and President, Tel: 647-992-9837, Email: [email protected]