Mr. Mike Mutchler reports
AMARILLO ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Amarillo Gold Corp. is proposing to complete a non-brokered private placement ofunits at a subscription price of 28 cents per unit for aggregate gross proceeds to the company of approximately $3-million. Each unit comprises one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at an exercise price of 38 cents for a period of 24 months following the date of issue, subject to customary adjustment provisions.
As at the date hereof, the company has received commitments from arm's-length lead investors in respect of the private placement.
The company intends to use the net proceeds from the private placement for advancing the company's mineral exploration and development projects, and for general corporate purposes. In connection with the private placement, the company may pay a finder's fee in cash, subject to all necessary regulatory approvals.
The company intends to close the private placement on or about March 29, 2018, subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to, among other things, a hold period of four months and one day in accordance with applicable securities laws.
About Amarillo Gold Corp.
Amarillo is developing a highly economic, open-pit gold resource at its Mara Rosa deposit in the mining-friendly jurisdiction of the Goias state in Brazil. In addition, Amarillo has an advanced exploration project with excellent grades at Lavras do Sul, in the state of Rio Grande do Sul, Brazil. Both projects have excellent nearby infrastructure. The Mara Rosa project was awarded the main permit that gives social and environment permission to mine.
We seek Safe Harbor.
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