Stakeholder Gold Corp. Closes Fully Subscribed Financing
TORONTO, ON / ACCESSWIRE / February 26, 2016 / Stakeholder Gold Corp. (TSXV: SRC) ("Stakeholder" or the "Company") has closed the Company's recently announced financing with proceeds of $750,000. The financing was comprised of 1,500,000 flow-through shares without warrants and 6,000,000 hard dollar shares without warrants, and was fully subscribed. In association with this financing a cash commission of $12,000 has been paid to Rory O'Neill, and 408,375 and 120,000 broker warrants have been issued to Bonaventure Exploration Ltd. and Rory O'Neill respectively. Three directors and insiders completed subscriptions for a total of 1,254,000 shares.
Funds will be applied to exploring the Company's Ballarat gold project located in the White Gold District of the Yukon Territory. Shawn Ryan, who is an independent consultant to GroundTruth Exploration Inc., will advise Stakeholder in his capacity as a member of the Company's exploration advisory committee. GroundTruth will conduct a GT Probe soil exploration program on the Ballarat property's Northwestern, as well as its Eastern, gold-in-soils anomalies. The Eastern gold-in-soils anomaly is located approximately 500 m from the route proposed for the Kaminak northern route road, where it is expected to cross the eastern section of the Ballarat property.
The work program will begin at the earliest possible time in the 2016 Yukon summer exploration season.
About Stakeholder Gold Corporation
Stakeholder Gold Corp. is a Canadian mineral exploration company headquartered in Toronto, Canada. The primary focus of Stakeholder is to explore and develop the Ballarat Gold Property in the White Gold District of the Yukon Territory.
Neither the 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 more Stakeholder Gold Corp. information, please contact
Christopher J. Berlet, CFA
President & CEO
416 525-6869
cberlet@stakeholdergold.com
Neither the 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 of this release.
Forward-Looking Statements: This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they were made. The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the prevailing price of natural gas, the Canadian-United States exchange rate, amount of gas produced that could affect revenues and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Company's annual financial statements and MD&A.
SOURCE: Stakeholder Gold Corp.
