Nordic Gold Closes Final Tranche of Private Placement
Vancouver, BC, December 24, 2018 - NORDIC GOLD INC. (TSX-V: NOR) ("Nordic" or the "Company" -https://www.commodity-tv.net/c/search_adv/?v=298622) today announced that it has closed the final tranche of its previously announced private placement (the “Second Tranche”). Pursuant the Second Tranche, the Company issued an aggregate of 2,400,000 units (each, a “Unit”) at a price of $0.10 per Unit for aggregate gross proceeds of $240,000. Each Unit consists of one common share (each, a “Common Share”) and one warrant to purchase one Common Share at a price of $0.13 until December 21, 2020, subject to acceleration in certain circumstances.
In consideration for the services provided by certain finders, the Company paid a cash commission of $16,800 and issued an aggregate of 168,000 non-transferable compensation options, each exercisable by the holder into one Common Share at a price of $0.13 until December 21, 2020, subject to acceleration in certain circumstances.
In connection with the closing of the Second Tranche, PFL Raahe Holdings LP (“PFL”) has been issued an additional 477,600 Common Shares pursuant to the Pre-Paid Forward Gold Purchase Agreement dated November 2017 (as amended on October 15, 2018) between the Company and PFL.
The securities issued pursuant to the Second Tranche and the Common Shares issued to PFL are subject to a four month and one day hold period pursuant to applicable Canadian securities laws.
For further information, please contact:
President and Chief Executive Officer
(416) 419 5192
Swiss Resource Capital AG
About the Company
Nordic Gold Inc. is a junior mining company with a near production gold mine in Finland. The Laiva Gold Mine is fully built, fully permitted and financed to production via a gold forward sale agreement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Advisory Regarding Forward Looking Statements
This news release contains forward-looking statements. Users of forward-looking statements are cautioned that actual results may vary from forward-looking statements contained herein. Forward-looking statements include, but are not limited to: expectations, opinions, forecasts, projections and other similar statements concerning anticipated future events, conditions or results that are not historical facts. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. While the Company has based these forward-looking statements on its expectations about future events as at the date those statements were prepared, the statements are not a guarantee of the Company’s future performance. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct.
The Company’s forward-looking statements are expressly qualified in their entirety by this cautionary statement and are made as of the date of this new release. Unless otherwise required by applicable securities laws, the Company does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information, events, results or circumstances or otherwise.