GoldON Announces Interim Closing of Private Placement Financing
Victoria, British Columbia (FSCwire) - GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the “Company”) is pleased to report the interim closing of the previously announced non-brokered private placement financing, consisting of 2,200,000 non-flow-through units at a price of $0.05 per unit (the “NFT Units”) and 1,100,000 flow-through shares at a price of $0.05 per share, to raise gross proceeds of $165,000. Each NFT Unit consists of one common share and one warrant. Each warrant will entitle the holder to purchase an additional common share at a price of $0.07 until December 19, 2016.
GoldON paid an aggregate of $3,850 in cash finder’s fees and issued brokers’ warrants to purchase 77,000 common shares of GoldON, with each brokers’ warrant entitling the holder to purchase an additional common share up to December 19, 2016 at a price of $0.07 per share.
The securities are subject to a hold period and may not be traded until April 20, 2015, except as permitted by applicable securities legislation and the TSX Venture Exchange.
GoldON relied on sections 5.5(c) and 5.7(b) of Multilateral Instrument 61-101 to exempt the offering from the requirements for a formal valuation and minority shareholder approval. The offering was approved by GoldON’s independent directors. Neither the Company nor the purchasers have knowledge of any material information concerning the Company or its securities that has not been generally disclosed.
The proceeds from the financing will be used for diamond drilling to test gold, silver and VMS targets as outlined in the Company’s new exploration model developed for its Slate Falls Property; and for general working capital purposes.
GoldON expects to close the remainder of the financing shortly.
About GoldON Resources Ltd.
GoldON Resources Ltd. is an exploration company geographically focused on two of the prolific gold mining belts of Ontario, Canada. The Company’s properties include the Slate Falls gold-silver property in northwestern Ontario, and the Swayze gold project adjoining IAMGOLD’s multi-million ounce Côté Gold Project in the Swayze Greenstone Belt. For more information, visit: www.goldonresources.com or view the current GoldON presentation.
ON BEHALF OF THE BOARD
Signed “Michael Romanik”
Michael Romanik, President
Direct line: (204) 724-0613
Email: info@goldonresources.com
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Source: GoldON Resources Ltd. (TSX Venture:GLD) http://goldonresources.com/
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