Vancouver, British Columbia — September 8, 2020, StrikePoint Gold Inc. (SKP:TSX.V)(STKXF:OTCQB) is pleased to announce that it has arranged a non-brokered $2 million private placement (the “Placement”) of 13,333,333 units at a price of $0.15 per unit (each a “Unit”). The offering will include a lead order by Crescat Capital.
Quote from Kevin Smith, Crescat’s founder and chief investment officer:
“Crescat is taking a friendly activist approach to investing in the precious metals mining industry today. Our goal at this stage of the cycle is to identify and invest in a portfolio of the largest and most economic new gold and silver deposits in viable jurisdictions around the world. We are excited about the high grade intercepts at StrikePoint’s Willoughby gold property and are eager to support the company in building out the deposit.”
ABOUT CRESCAT
Crescat Capital LLC (‘Crescat’) is a global macro asset management firm headquartered in Denver, Colorado. Crescat’s mission is to grow and protect wealth over the long term by deploying tactical investment themes based on proprietary value-driven equity and macro models. Crescat’s goal is industry leading absolute and risk-adjusted returns over complete business cycles with low correlation to common benchmarks. Crescat’s investment process involves a mix of asset classes and strategies to assist with each client’s unique needs and objectives and includes Global Macro, Long/Short, Large Cap and Precious Metals funds.
Crescat’s gold and silver mining investments are advised by technical consultant Quinton Hennigh, PhD. Dr. Hennigh is a world-renowned exploration geologist with more than 30 years of experience including with major gold mining firms Homestake Mining, Newcrest Mining, and Newmont Mining.
Each Unit will comprise one common share and one share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder to acquire an additional common share of the Company at an exercise price of $0.25 per share for a period of two years.
Finders’ fees may be payable in connection with the Placement in accordance with applicable securities laws and the policies of the TSX Venture Exchange (“TSXV”).
The proceeds of the Placement will be utilized to fund the Company’s exploration activities on its existing mineral property portfolio and general working capital.
Directors and officers of the Company may acquire securities under the Placement, which participation would be considered to be a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
The closing of the Placement is subject to receipt of all necessary regulatory approvals, including the acceptance by the TSXV.
The Company reserves the right to increase the number of Units issued pursuant to the Placement to up to 16,666,667 Units for up to total gross proceeds of $2.5 million.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information please visit our website: www.strikepointgold.com
About StrikePoint
StrikePoint Gold is a gold and silver exploration company focused on building high-grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC’s Golden Triangle: the past-producing high-grade Porter Silver Project and the high-grade Willoughby Gold Project. The company also owns a portfolio of gold properties in the Yukon and has Eric Sprott, Skeena Resources and Ascot Resources as significant shareholders.
ON BEHALF OF THE BOARD of STRIKEPOINT GOLD INC.
Shawn Khunkhun CEO and Director
For more information, contact:
Shawn Khunkhun
604-602-1440
