DGAP-News Gungnir Resources Inc.: Gungnir Upsizes Previously Announced Financing and Closes Strategic Investment by Palisades Goldcorp Ltd

Nachrichtenquelle: EQS Group AG
25.09.2020, 14:00  |  111   |   |   

DGAP-News: Gungnir Resources Inc. / Key word(s): Miscellaneous
Gungnir Resources Inc.: Gungnir Upsizes Previously Announced Financing and Closes Strategic Investment by Palisades Goldcorp Ltd

25.09.2020 / 14:00
The issuer is solely responsible for the content of this announcement.


Gungnir Upsizes Previously Announced Financing and Closes Strategic Investment by Palisades Goldcorp Ltd.

Surrey, BC - September 25, 2020 - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCPK) ("Gungnir" or the "Company") is pleased to announce that due to interest from a European institutional investor, the Company is upsizing its recently announced non-brokered private placement offering (See the Company's news release dated September 14, 2020), and expects to raise up to an additional $200,000, for up to total of $600,000 in gross proceeds (the "Offering"). The Offering consists of units of the Company (the "Units") priced at $0.06 per Unit (the "Unit Price"), with each Unit consisting of one common share in the capital of the Company (each, a "Common Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to acquire one Common Share (each, a "Warrant Share") at a price per Warrant Share of $0.09 per share for a period of 36 months from the issue date.

In addition, the Company is pleased to announce that it has closed the first tranche with a lead order from Palisades Goldcorp Ltd of the Offering for gross proceeds of $400,000 from the sale of 6,666,667 Units (the "First Tranche").

The net proceeds of the Offering will be used to continue the exploration program, inclusive of drilling, at the Company's 100% owned projects in Sweden, concentrating on the Knaften Gold zone and our two nickel resources, Rormyrberget and Lappvattnet.

The Offering is expected to close on or about September 30, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities. All securities issued under the Offering are subject to a hold period expiring four months and one day from the issue date.

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