ML Gold Arranges $1.5 Million Financing
TSX VENTURE: MLG
Vancouver, British Columbia--(Newsfile Corp. - April 15, 2019) - ML Gold Corp. (TSXV: MLG) ("ML Gold" or the "Company") is pleased to announce a non-brokered private placement to raise total gross proceeds of up to CDN$1,500,000.
The Company will issue 15,000,000 units at $0.10 per unit (for gross proceeds of up to CDN$1,500,000).
Each unit at $0.10 comprises one common share in the capital of the Company and one full non-transferable share purchase warrant. Each warrant is exercisable into one common share at a price of $0.15 for a period of two years.
All shares issued in the private placement are subject to a 4-month hold period from the date of issuance.
The financing may include finder's fee commissions and is subject to TSX Venture approval.
Proceeds from the financing are intended for the Company's Stars Property Project in BC, updating PEA for Block 103 iron ore project in Quebec, and as general working capital purposes.
The Company also wishes to announce the resignation of Andrew Bowering as a CEO. ML Gold thanks Mr. Bowering for his efforts and contributions to date and wishes him the best in his future endeavors.
The Company is pleased to announce that it has appointed Kosta Tsoutsis as CEO of the Company effective immediately.
ABOUT ML GOLD CORP.
ML Gold Corp. is a Canadian company listed on the TSX Venture Exchange, focused on creating shareholder value through discoveries and strategic development of mineral properties in Canada and the United States.
ML GOLD CORP.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.