ML Gold Closing of Oversubscribed Financing
Vancouver, British Columbia--(Newsfile Corp. - December 29, 2017) - ML Gold Corp. (TSXV: MLG) (FSE: XOVN.F) ("ML Gold" or the "Company") is pleased to announce the closing of its previously announced non-brokered private placement (the "Private Placement") announced November 22nd.
Proceeds of the closing of the Private Placement were $1,296,830. The Private Placement consisted of the issuance of 5,841,600 non flow-through units (the "NFT Units") at a price of $0.10 per NFT Unit and 5,482,077 flow-through units (the "FT Units") at $0.13 per FT Unit.
Each NFT Unit at $0.10 is comprised of one common share in the capital of the Company (each, an "NFT Share") and one full non-transferable share purchase warrant (the "NFT Warrants"). Each NFT Warrant is exercisable into one common share at a price of $0.15 for a period of two years.
Each FT Unit at $0.13 is comprised of one flow-through common share (an "FT Shares") and one half of one non-transferable share purchase warrant (the "FT Unit Warrants"). Each full FT Unit Warrant is exercisable into one NFT Share at a price of $0.18 for a period of two years.
The NFT Shares and FT Shares, including any NFT Shares issuable upon exercise of FT Warrants and NFT Warrants, all are subject to a hold period expiring on April 30, 2018.
The Private Placement had been originally announced as being comprised of 3,500,000 NFT Units and 5,000,000 FT Units for total proceeds of $1,000,000. The closing numbers today reflect an increase of 2,341,600 NFT Units and 482,077 FT Units. The prices of all units and the exercise price of all warrants remains unchanged from the first announcement.
A total of $18,188.10, in cash, and 150,570 broker warrants we issued as finder's fees on the Private Placement.
The net proceeds from the Private Placement will be used for general working capital purposes and exploration of the Company's Stars Property.
ABOUT ML GOLD CORP.
ML Gold Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and strategic development of mineral properties in Canada and the United States.
For additional information please visit the Company's website at www.mlgoldcorp.com. You may also email info@mlgoldcorp.com or call investor relations at (604) 669-2279.
ML GOLD CORP.
"Andrew Bowering"
Andrew Bowering
Chairman
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ 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.