GoldON Closes Private Placement Financing

VICTORIA, BC /ACCESSWIRE / June 5, 2019 /GoldON Resources Ltd. (TSX-V: GLD) ("GoldON" or the "Company") is pleased to report it has closed the previously announced non-brokered private placement offering of 500,000 flow-through common shares at a price of $0.50 per share and 700,000 common shares at a price of $0.45 per share to raise $565,000 in gross proceeds.

The securities are subject to a four-month hold period and may not be traded until October 6, 2019, except as permitted by applicable securities legislation and the TSX Venture Exchange.

The Company paid a finder's fee of $24,937.50 and 41,562 common shares to Mr. Scott Baxter in respect of the offering.

The net proceeds of this financing will be used to fund the Company's exploration and development work in Ontario, Canada and for general working capital purposes.

About GoldON Resources Ltd.

GoldON is an exploration company focused on discovery-stage properties located in the prolific gold mining belts of northwestern Ontario, Canada. Active projects include the West Madsen property in the Red Lake Gold Camp and our flagship Slate Falls project in the Patricia Mining Division where 18 Au-Ag mineralized zones have been identified over the 7-kilometre breadth of the property. GoldON has 13,783,220 shares issued and is fully funded to complete its spring/summer work programs.

For additional information please visit our website and view our latest presentation by clicking here or contact Michael Romanik.

ON BEHALF OF THE BOARD

Signed "Michael Romanik"

Michael Romanik, President
Direct line: (204) 724-0613
Email: info@goldonresources.com

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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.

SOURCE: GoldON Resources Ltd.