Fosterville South Closes $15 Million Financing
Summary
The high demand for this private placement is a testament to the quality of assets assembled over a multi-year period, which provide a strong foundation for our growth plans. Fosterville South intends to use the net proceeds of the Offering for exploration and for general working capital purposes.The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. km property immediately to the south of, adjacent to, and within the same geological framework that hosts Kirkland Lake Golds Fosterville tenements.Additionally, Fosterville South recently acquired three gold-focused projects called the Moormbool, Timor and Avoca Projects, which are also located in the state of Victoria, Australia.Five of Fosterville Souths properties (Lauriston, Providence, Golden Mountain, Timor and Avoca) have had historical gold production from hard rock sources despite limited modern exploration and drilling.On behalf of the CompanyBryan SlusarchukChief Executive Officer and DirectorInformation set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. Such factors include, among other things: the anticipated use of proceeds from the Offering, risks and uncertainties relating to Fosterville Souths limited operating history, its proposed exploration and development activities on its Lauriston and Golden Mountain properties and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information.