News Release
CHIMATA GOLD CORP. ANNOUNCES CLOSING OF THE SECOND AND FINAL TRANCHE OF PRIVATE PLACEMENT
Vancouver, BC September 11th, 2017 Chimata Gold Corp. (TSX.V: CAT) (the “Company”) is pleased to announce the closing of the second and final tranche of its ongoing private placement, for total gross proceeds of $871,840 by the issuance of 15,851,636 Units, issued at a price of $0.055 per Unit, each Unit being comprised of one common share in the capital of the Company and one common share purchase warrant entitling its holder to purchase an additional common share at a price of $0.075 per common share for a period of 36 months from the closing date.
The private placement has been oversubscribed as the Company expected to collect $825,000 by the issuance of 15,000,000 Units.
All securities issued under this private placement will be subject to a statutory hold period of four months from closing.
Various finder’s fees have been paid in connection with the private placement to three exempt market dealers by the issuance of 377,160 broker warrants exercisable at a price of $0.075 for 36 months from closing and the payment of $20,743 in cash.
The funds raised will be used by the Company for exploration expenditures on existing mining properties, for due diligence on potential acquisition targets, for reserve for potential asset acquisition investigations and for general working capital purposes.
ON BEHALF OF THE BOARD
Robert Rosner
Chief Financial Officer
Further information regarding the Company can be found on SEDAR at www.SEDAR.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
