Marathon Gold Announces Closing of C$34.5 Million Bought Deal Financing
Summary
The Company intends to use the net proceeds from the Offering to continue the permitting, development, and exploration of the Valentine Gold Project, as well as for working capital and general corporate purposes. When including the net proceeds of the Offering, Marathon’s cash balance is now over C$50 million leaving the Company well positioned to advance the Valentine Gold Project through to a potential construction decision targeted for the second half of 2021. More particularly and without restriction, this news release contains forward-looking statements and information about the use of proceeds from the Offering and the timing of a potential construction decision, , future exploration and mine plans, and the timetable for completion and content thereof and statements as to managements expectations with respect to, among other things, the matters and activities contemplated in this news release. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include availability of financing to fund Marathon’s exploration and development activities, the ability of the current exploration program to identify and expand mineral resources, operational risks in exploration and development for gold, Marathon’s ability to realize the pre-feasibility study, delays or changes in plans with respect to exploration or development projects or capital expenditures, uncertainty as to calculation of mineral resources, changes in commodity and power prices, changes in interest and currency exchange rates, the ability to attract and retain qualified personnel, inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources), changes in development or mining plans due to changes in logistical, technical or other factors, title defects, government approvals and permits, cost escalation, changes in general economic conditions or conditions in the financial markets, environmental regulation, operating hazards and risks, delays, taxation rules, competition, public health crises such as the COVID-19 pandemic and other uninsurable risks, liquidity risk, share price volatility, dilution and future sales of common shares, aboriginal claims and consultation, cybersecurity threats, climate change, delays and other risks described in Marathon’s documents filed with Canadian securities regulatory authorities.