Angel Gold Announces Private Placement Financing
Vancouver, British Columbia – March 12, 2018 – Angel Gold Corp. (TSX-V: ANG – OTCQX: ANGCF) (“Angel” or the “Company”) is pleased to announce a non-brokered private placement raising gross proceeds of up to $1,500,000 through the issuance of up to 25,000,000 units at a price of $0.06 per unit. Each unit will be comprised of one common share of the Company and one-half common share purchase warrant. Each whole common share purchase warrant will allow the holder to acquire an additional common share of the Company at a price of $0.12 per share for a period of two years from the date of closing of the non-brokered private placement.
The units issued with respect to the offering will be subject to a four month hold period in accordance with applicable Canadian Securities Laws. A portion of the private placement may be subject to a finder’s fee that may be payable at 6% in cash or units with respect to certain private placement subscribers and in accordance with the policies of the TSX Venture Exchange. The finder’s fee units are subject to the same terms as the private placement units. The non-brokered private placement is subject to the approval of the TSX Venture Exchange.
Proceeds from the private placement will be used for general working capital and exploration of the El Porvenir project. El Porvenir has 3 drill-ready high-grade gold and gold-silver prospects with depth potential supported by Induced Polarization and ground magnetics surveys. Two targets are breccia mineralization within large alteration zones, more typical of multi-million ounce Cauca Belt bulk-tonnage mineralization versus the traditional narrow vein style of the Segovia Belt, confirming potential for intrusive related and porphyry style mineralization. Land access and environmental permits to explore are in place.
About Angel Gold Corp.:
Angel is a Canada-based gold and silver exploration company focused on responsible development of mineral resources in Colombia, host to several significant gold deposits. Angel’s flagship project the El Porvenir is located at less than 2 km from Segovia project of Gran Colombia, the El Pino West Project is adjacent to the Gramalote project of B2Gold and Anglo Gold Ashanti JV and its Heliconia project is located north of the Titiribí district along the Cauca fault system.
Angel has been focused on acquiring and validating strategic mineral exploration opportunities in Colombia’s best mining districts with the highest potential for new discoveries.
On Behalf of the Board of Directors of Angel Gold Corp
Blanca Stella Frias, Director
President and Chief Executive Officer
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.
For investor relations, please contact:
+1 (360) 201 9609
The TSX Venture Exchange has not reviewed the content of this News Release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this News Release. This news release contains certain “forward- looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this News Release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this News Release. We seek safe harbour.