The FT Units are being issued pursuant to a charity arrangement structured by
Each FT Unit shall be comprised of one common share in the capital of the Company, issued on a flow-through basis (each, a 'FT Share') and one-half of one whole common share purchase warrant (each whole warrant, a 'Warrant'), issued on a non-flow-through basis. Each Warrant shall entitle the holder thereof to acquire one common share (each, a 'Common Share') in the capital of the Company at a price of
All securities issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The gross proceeds from the sale of the FT Units will be used by the Company to incur eligible 'Canadian exploration expenses' that will qualify as 'flow-through expenditures' as such terms are defined in the Income Tax Act (
The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in
About
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Contact:
Tel: +1-647-801-7273
Email: smarcotte@royalfoxgold.com
Cautionary Statements
This news release contains certain 'forward-looking information' within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate', 'may', 'will', 'would', 'potential', 'proposed' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
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