Golden Dawn Minerals closes $2M first tranche of private placement

News Release

Golden Dawn Increases and Closes First Tranche of Private Placement for Total Proceeds of $2,008,995

Vancouver, September 7, 2017 – Wolf Wiese, CEO of Golden Dawn Minerals Inc., (TSX-V: GOM; FRANKFURT: 3G8A; OTC: GDMRF) (the “Company” or “Golden Dawn”) announces that, subject to regulatory approval, the Company has increased and closed the first tranche of its non-brokered private placement announced on August 24, 2017 by raising $2,008,995. The Company issued 5,189,455 flow through units (the “FT Units”) at $0.285 per FT Unit and 2,120,000 non-flow through units (the “NFT Units”) at $0.25 per NFT Unit. Each FT Unit or NFT Unit includes one transferable warrant exercisable at $0.30 for two years from the date of issuance, for a total of 7,309,455 warrants issued with an expiry date of September 7, 2019.

Also subject to regulatory approval, the Company intends to close a second and final tranche of the financing shortly, increasing the funds raised by an additional $315,000 in FT Units and $315,000 in NFT Units, bringing the total funds to be raised to approximately $2,640,000.

Total commissions to be paid to eligible finders with respect to this tranche of the financing consists of $113,590.21 cash, 181,737 common shares and 285,406 compensation warrants. The compensation warrants are non-transferable, are for a period of two years and have an expiry date of September 7, 2019. All securities issued in connection with the financing are subject to a statutory hold period expiring on January 8, 2018.

The funds will be utilized for continuation of the Company’s development toward re-activating the Lexington mine, the Company’s processing plant, exploration on its GREENWOOD PRECIOUS METALS PROJECT, and for general working capital.

On behalf of the Board of Directors:
Wolf Wiese, President & CEO

For further information, please contact:
Corporate Communications