VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 1, 2018) - Gold Standard Ventures Corp. (TSX:GSV)(NYSE AMERICAN:GSV) ("Gold Standard" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by Macquarie Capital Markets Canada Ltd. and BMO Capital Markets (collectively, the "Underwriters"), under which the Underwriters have agreed to buy on a bought deal basis 9,756,100 common shares ("Common Shares") at a price of C$2.05 per Common Share ("Offering Price") for gross proceeds of approximately C$20 million (the "Public Offering"). The Company has granted the Underwriters an option for a period of 30 days following closing to purchase from the Company up to an additional 1,463,415 Common Shares at the Offering Price. The Public Offering is expected to close on or about February 22, 2018 and is subject to Gold Standard receiving all necessary regulatory approvals.
Concurrent with the Public Offering, Goldcorp (TSX:G)(NYSE:GG) will complete a non-brokered private placement (the "Private Placement") at the Offering Price pursuant to which Goldcorp will increase their ownership position in Gold Standard to 9.99%. OceanaGold (TSX:OGC)(ASX:OGC) has the right to either maintain their current ownership position of approximately 15.8% or acquire up to a 19.9% ownership position in Gold Standard. OceanaGold has been provided notice of the Public Offering and Private Placement.
The net proceeds of the Public Offering and the Private Placement will be used for continued exploration and early-stage development at the Company's 100% owned Railroad-Pinion Project and for working capital purposes.
The Common Shares offered pursuant to the Public Offering will be offered by way of a short form prospectus in British Columbia, Alberta and Ontario and may also be offered by way of private placement outside of Canada. The Common Shares purchased pursuant to the Private Placement will be subject to a statutory hold period in Canada of four months plus one day from the closing of the Private Placement.
The Company will apply to list the Common Shares on the Toronto Stock Exchange (the "TSX") and the NYSE AMERICAN LLC (the "NYSE AMERICAN"). Listing will be subject to the Company fulfilling all of the listing requirements of the TSX and the NYSE AMERICAN.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT GOLD STANDARD VENTURES - Gold Standard is an advanced stage gold exploration company focused on district scale discoveries on its Railroad-Pinion Gold Project, located within the prolific Carlin Trend. The 2014 Pinion and Dark Star gold deposit acquisitions offer Gold Standard a potential near-term development option and further consolidates the Company's premier land package on the Carlin Trend. The Pinion deposit has a mineral resource estimate prepared in accordance with NI 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") consisting of an Indicated Mineral Resource of 31.61 million tonnes grading 0.62 g/t Au, totaling 630,300 ounces of gold and an Inferred Mineral Resource of 61.08 million tonnes grading 0.55 g/t Au, totaling 1,081,300 ounces of gold, using a cut-off grade of 0.14 g/t Au. The Dark Star deposit, 2.1 km to the east of Pinion, has a mineral resource estimate prepared in accordance with NI 43-101 consisting of an Indicated Mineral Resource of 15.38 million tonnes grading 0.54 g/t Au, totaling 265,100 ounces of gold and an Inferred Mineral Resource of 17.05 million tonnes grading 1.31 g/t Au, totaling 715,800 ounces of gold, using a cut-off grade of 0.2 g Au/t. The North Bullion deposit, 7 km to the north of Pinion, has a mineral resource estimate prepared in accordance with NI 43-101 consisting of an Indicated Mineral Resource of 2.92 million tonnes grading 0.96 g/t Au, totaling 90,100 ounces of gold and an Inferred Mineral Resource of 10.97 million tonnes grading 2.28 g/t Au, totaling 805,800 ounces of gold, using a cut-off grade of 0.14 g Au/t for near surface oxide and 1.25 to 2.25 g Au/t for near surface sulfide and underground sulfide respectively.
