April 20, 2021
Toronto, Ontario – April 20, 2021 – Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) (“Getchell” or the “Company”) announces an offering on a non-brokered private placement basis of up to 3,500,000 units (each a “Unit”) at a price of $0.45 per Unit for gross proceeds of up to $1,575,000 (the “Offering”).
Each Unit will consist of one common share of the Company and one-half of one share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.65 per share for a period of two years from the date of closing. The Offering may include closing in tranches and multiple closing dates.
The Company will make a provision for an over-allotment option (the “Over-Allotment Option”) to allow a purchase of up to 1,100,000 additional Units beyond the number of Units contemplated in this Offering. If the Over-Allotment Option is fully exercised, the total proceeds of the Offering will be an aggregate of 4,600,000 Units and gross proceeds of $2,070,000.
The proceeds from the Offering will be used for exploration and development of the Company’s properties and general working capital. In connection with the Offering, the Company may pay finder’s fees of 7% of the gross proceeds of the Offering payable in cash. In addition, finders may receive share purchase warrants entitling them to purchase that number of common shares of the Company equal in number to 7% of the total number of Units purchased by subscribers introduced to the Company by such finders, exercisable for a period of two years from the closing of the Offering at a price of $0.65 per common share, all in accordance with the policies of the Canadian Securities Exchange (“CSE”).
Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including approval of the CSE. The securities issued pursuant to the Offering will be subject to a statutory hold period in accordance with applicable securities laws.
The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.
Shareholder Update Call April 21, 4PM EST
Getchell Gold Corp. is hosting the April Shareholder Update this Wednesday, April 21, at 4pm EST. All interested investors and media are welcome to register: https://app.livestorm.co/getchell-gold/getchell-gold-april-2021-shareholder-update?type=detailed