GoldHaven Closes Final Tranche of Over-Subscribed Non-Brokered Private Placement
November 4, 2020
Vancouver, British Columbia, November 4, 2020 – GoldHaven Resources Corp. (formerly Altum Resource Corp.) (“GoldHaven” or the “Company”) (CSE: GOH) reports that it has closed a final tranche of an over-subscribed non-brokered private placement as previously announced on October 16, 2020 and October 29, 2020 (the “Offering”). On November 4, 2020, the Company issued an additional 940,000 units (the “Units”) at a price of $0.20 per Unit for additional gross proceeds of $188,000.00. Aggregate units issued in both tranches is 12,247,500 for aggregate total proceeds of $2,449,500.
Each Unit consists of one common share in the capital of the Company and one common share purchase warrant (the “Warrants”). Each Warrant entitles the holder thereof to purchase one common share in the capital of the Company at an exercise price of $0.30 per share for a period of 36 months from the closing of the Offering.
In connection with the Offering, the Company paid additional cash finder’s fees of $13,860.00 and issued an additional 69,300 Finder’s Warrants. The Finder’s Warrants issued have the same terms and conditions as the subscriber warrants issued under the Offering however, they are non-transferable. Aggregate finder’s fees for both tranches total $116,615 cash and 582,575 finder’s warrants.
All securities issued in connection with the Offering have a four-month and one day hold period in Canada, ending on March 5, 2021.
Net proceeds of the Offering will be used to commence an exploration program on its Maricunga Gold Belt projects and general working capital. Management recently completed exploration including surface sampling and has identified “High Priority” drill targets on four of its seven projects in the Maricunga Gold Belt of Northern Chile. Drilling is scheduled to commence during the first quarter of 2021.
None of the foregoing securities have been or will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About GoldHaven Resources Corp.
GoldHaven Resources Corp. is a Canadian junior exploration company active in the Maricunga Gold Belt of northern Chile. The Maricunga measures 150 km north-south and 30 km east-west and is host to discoveries in the last ten years of 100M oz gold; 450M oz silver and 1.3 billion lbs copper. The Company has agreements in place to acquire seven high priority exploration targets as identified by geological studies. GoldHaven has identified four of these seven properties as being “High Priority” targets and, will commence a drilling program beginning during the first quarter of 2021. The four priority targets include Coya, located approximately16 km northeast of the La Coipa mine where Kinross has extracted over 6.2 million oz gold; the second is Rio Loa, a project located 25 km south of Gold Field’s Salares Norte deposit (5.2 M oz AuEq; the third and fourth projects are Alicia and Roma which are approximately 35 km south of the Salares Norte deposit. These priority targets have been designated as High Priority owing to the extensive pervasive alteration, favourable geology and highly anomalous rock geochemistry results as well as their relative proximity to existing deposits.
We Seek Safe Harbor.
On Behalf of the Board of Directors
David C. Smith, President and Director
For further information, please contact:
#2300 – 1177 West Hastings St.
Office Direct: (604) 638-5938
Cell Direct: (778) 834-1141
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE- Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
This news release contains forward-looking statements and forward-looking information (collectively, “forward looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, the intended use of the proceeds received from the Offering, the possible acquisition of the Projects, the Company’s expectation that it will be successful in enacting its business plans, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believes”, “will”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “potential”, “scheduled”, or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that investor interest will be sufficient to close the Offering, and the receipt of any necessary regulatory or corporate approvals in connection with the Offering and the Assignment, that there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company’s projects in a timely manner, the availability of financing on suitable terms for the exploration and development of the Company’s projects and the Company’s ability to comply with environmental, health and safety laws.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and affairs, as currently contemplated, the inability to close the Offering, the inability of the Company to enter into definitive agreements in respect of the Letters of Intent which are the subject of the Assignment, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including by the Exchange, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company’s latest interim Management’s Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.