AurCrest Gold Announces Extension of Non-brokered Offering
June 26, 2018
Toronto, Ontario June 26, 2018 - AurCrest Gold Inc. (the “Company” or “AurCrest”) (TSX-V: AGO) (FRANKFURT: TM8A, WKN: A0YG1K) wishes to announce that it is extending the offering, announced on May 11, 2018, of a non-brokered private placement of up to a further 8,450,000 working capital units (the “WC Units”) for up to $422,500 (the “WC Offering”) for a further thirty (30) days. The Company closed a second tranche of 200,000 WC Units on May 30, 2018. The securities issued are subject to a hold period expiring on October 1, 2018.
The Company also wishes to announce that the closing date of its agreement to acquire the 2% Net Smelter Returns Royalty on the Company’s Richardson Lake Property (the “2% NSR”), originally announced on May 11, 2018, has been extended to July 16, 2018 in consideration for the payment of $10,000 on account of the $50,000 purchase price.
Each WC Unit is priced at $0.05 and consists of one (1) common share and one (1) common share purchase warrant (“WC Warrant”). Each WC Warrant entitles the holder to purchase one (1) common share (a “WC Warrant Share”) at a price of $0.075 per WC Warrant Share for a period of until three (3) years following the closing of the WC Offering (the “Closing Date”).
Eligible Finders may receive up to 7% of the value of proceeds of the sale of WC Units in cash and up to 8% of the number of WC Units sold in the form of broker warrants (the “WC Broker Warrants”), with each WC Broker Warrant entitling the holder to acquire one (1) WC Unit at a price of $0.05 for a period of three (3) years from the Closing Date.
The funds from the WC Offering will be used to provide the Company with working capital and to acquire the 2% NSR.
About AurCrest Gold Inc.
AurCrest is a mineral exploration company focused on the acquisition, exploration, and development of gold properties. AurCrest has a portfolio of properties in Ontario, which include the Richardson Lake and Bridget Lake gold properties.
FOR FURTHER INFORMATION PLEASE CONTACT:
AurCrest Gold Inc.
President and C.E.O
Director of Business Development
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on such 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.