pcNewsWire – Gold Finder Explorations Ltd. (TSX-V: GFN.H) has closed the second tranche of the non-brokered private placement of 800,000 units at $0.075 per unit for gross proceeds of $60,000.
Kin Communications Inc. subscribed for and acquired ownership and control of 800,000 units.
Proceeds will be used by the company for general working capital purposes and to find, and fund, potential new projects.
GOLD FINDER COMPLETES 2nd TRANCHE OF $0.075 UNIT NON BROKERED PRIVATE PLACEMENT
VANCOUVER, B.C. – Gold Finder Explorations Ltd. (the “Company”) announces that further to its news releases of May 15, 2017, the Company has closed the second tranche of the non-brokered private placement of units of the Company (the “Units”) at $0.075 per Unit (the “Offering”).
The second tranche closing consisted of 800,000 Units, for gross proceeds of $60,000. Each Unit consisted of one common share in the capital of the Company (the “Shares”) plus one common share purchase warrant entitling the holder to purchase one additional Share at a price of $0.10 until June 16, 2018.
Kin Communications Inc. (“Kin”) subscribed for and acquired ownership and control of 800,000 Units of the Company pursuant to the Offering. As a result of Kin’s subscription, Kin has ownership, and direction or control over 800,000 common shares, representing 12.27% of the issued and outstanding common shares of the Company (or 1,600,000 common shares and 21.86%, assuming exercise of all share purchase warrants held by Kin).
The Company has been advised that Kin has acquired these securities for investment purposes and has no present intention to acquire further securities of the Company, although it may in the future acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances of market conditions warrant. A copy of the Early Warning Report filed under applicable Canadian provincial securities legislation in connection with the acquisition by Kin is available under the Company’s profile on SEDAR.
All securities issued in connection with this Offering are subject to a statutory hold period ending on October 17, 2017 in accordance with applicable securities legislation. The net proceeds from the Offering will be used by the Company for general working capital purposes and to find, and fund, potential new projects.
There were no finder’s fees paid on this 2nd tranche closing.
FOR FURTHER INQUIRIES, CONTACT: Neil Linder, President and CEO (604) 644-2992
ON BEHALF OF THE BOARD
President and Chief Executive Officer
Neither 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.