1178 0 Kommentare Leviathan Gold Finance Ltd. Closes Upsized Subscription Receipt Financing of $12,905,500 - Seite 2

The net proceeds of the Offerings will be used by Leviathan to fund the purchase price for the Avoca and Timor projects and for general working capital.

Fosterville South Chief Executive Officer, Bryan Slusarchuk, states, “This financing was upsized immediately after launch due to strong institutional interest. We thank the investors in the financing and the syndicate of agents for supporting this opportunity. Leviathan will emerge as a public company with a very strong treasury, excellent gold projects and a management team with a track record of creating shareholder value. We look forward to seeing the company execute on the ground, for the benefit of all stakeholders.”

Leviathan Chief Executive Officer, Luke Norman, states, “The tremendous demand we have observed demonstrates the quality of the assets Leviathan will hold. With institutional support and a balance sheet to match our assets, we look forward to generating shareholder value.”

About Fosterville South Exploration Ltd.

Fosterville South has two large, 100% owned, high-grade epizonal gold projects called the Lauriston and Golden Mountain Projects, a large group of tenement applications called the Providence Project and a large group of recently consolidated tenement applications called the Walhalla Belt Project, all in the state of Victoria, Australia. The Fosterville South land packaged, assembled over a multi-year period, notably includes a 600 sq. km property immediately to the south of and within the same geological framework that hosts Kirkland Lake Gold's Fosterville tenements. Additionally, Fosterville South has gold-focused projects called the Moormbool, Timor and Avoca Projects, which are also located in the state of Victoria, Australia.

Six of Fosterville South's properties (Lauriston, Providence, Golden Mountain, Timor, Avoca and Walhalla Belt) have had historical gold production from hard rock sources despite limited modern exploration and drilling. The Timor and Avoca projects form part of the spinout transaction with Leviathan.

Fosterville South has approximately CAD $30 million in cash, is drilling at the Golden Mountain project where results to date have been excellent, is preparing to drill at Lauriston and has 12 drill permits in progress spanning 5 different projects.