Vancouver, B.C. – March 28, 2023 – Snowline Gold Corp. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce that it has completed its non-brokered private placement of 3,941,048 flow-through common shares of the Company (the “FT Shares”) at a price of C$4.862 per FT Share for aggregate gross proceeds of C$19,161,375.38 (the “Offering”) and strategic investment by B2Gold Corp. (TSX: BTO, NYSE American: BTG, NSX: B2G) (“B2Gold”) announced on March 14, 2023.
The Offering was structured as a charity donation arrangement pursuant to which B2Gold acquired 3,941,048 common shares of the Company. The common shares purchased by B2Gold, combined with 3,000,000 common shares of the Company recently acquired by B2Gold on the open market, represent a total position of approximately 5.0% of the issued and outstanding common shares of the Company upon completion of the Offering. Concurrently with the closing of the Offering, the Company and B2Gold entered into an investor rights agreement pursuant to which B2Gold has been granted a right to maintain its pro rata interest in the Company in connection with future equity financings.
The gross proceeds from the issue and sale of the FT Shares will be used to support advancement of exploration on the Company’s Yukon Territory mineral properties, which will qualify as “Canadian Exploration Expenses” and “flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial purchasers of the FT Shares with an effective date no later than December 31, 2023.
All securities issued in connection with the Offering are subject to a hold period of four months and one day from the closing of the Offering, in accordance with applicable Canadian securities laws, expiring on July 29, 2023.
No finder’s fees have been nor will be paid in connection with the Offering.
The securities issued under the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and were not to be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >280,000 ha. The Company is exploring its flagship >137,000 ha Rogue and Einarson gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox Mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
ON BEHALF OF THE BOARD
Scott Berdahl, MSc, MBA, PGeo
CEO & Director
For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com
