AuQ Gold Mining Inc. Announces Closing of Flow Through Financing
Vancouver, January 21, 2021 - AUQ Gold Mining Inc. (TSXV:AUQ) (OTC:NSVLF) (the "Company") reports that the correct number of shares issued in its December flow though placement was 550,000 Flow-Through Shares of the Company at a price of 70 cents per share for aggregate gross proceeds to the Company of $385,000. Of this amount, 430,000 shares were issued on December 23, 2020 with a hold period expiring on April 24, 2021 and120,000 shares were issued on December 23, 2020 with a hold period expiring on May 1, 2021. Each flow-through common share shall be issued on a flow-through basis as contemplated by the Tax Act(Canada).
The Company has agreed to pay a cash fee of $18,060 and issue 25,800 warrants exercisable at $0.70 until June 21, 2021 and thereafter at $0.90 until December 21, 2021, in accordance with the policies of the TSX Venture Exchange, in consideration for sourcing $301,000 of the subscription funds.
The proceeds of the flow-through offering will be used to conduct resource exploration renouncable for the 2020 tax year.
Contact Person: Mr. Glen Macdonald, P.Geo.
Telephone: (604)719-8129
Email: auqgold@gmail.com
ON BEHALF OF THE BOARD
(signed) "Glen Macdonald"
Glen Macdonald Chief Executive Officer and Director
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.
This news release may contain forward-looking statements that are based on AUQ Gold Mining Inc.'s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and AUQ Gold Mining Inc. undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
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