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Shares
Outstanding: 325,278,261
Trading
Symbols:
TSX: GGD
HALIFAX,
NS, Feb. 8, 2023 /CNW/ - GoGold Resources
Inc. (TSX: GGD) ("GoGold" or the "Company")
is pleased to announce that it has closed its previously announced
bought deal offering (the "Offering") of 28,900,000 common
shares (the "Common Shares") at a price of C$2.25 per Common Share, for aggregate gross
proceeds of approximately C$65
million. The Offering was led by BMO Capital Markets, along
with a syndicate of underwriters including Desjardins Securities
Inc., PI Financial Corp., Echelon Wealth Partners Inc., Eight
Capital and Sprott Capital Partners LP (collectively, the
"Underwriters").
The Underwriters were paid a commission of 5.5% on the gross
proceeds of the Offering. The net proceeds of the Offering are
intended to be used to support the continued advancement of the
Company's Los Ricos North and South projects. The Underwriters hold
an option to purchase up to an additional 4,335,000 Common Shares
at a price of C$2.25 per Common
Share, exercisable in whole or in part, on or before March 10, 2023.
The Offering was completed by way of short form prospectus in
each of the provinces of Canada,
except Québec, pursuant to National Instrument 44-101 – Short
Form Prospectus Distributions.
The securities offered in the Offering have not been registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), or any U.S. state securities laws,
and may not be offered or sold in the
"United States" (as such term is defined in Regulation S
promulgated under the U.S. Securities Act) absent registration or
an applicable exemption from the registration requirements of the
U.S. Securities Act and applicable U.S. state securities laws. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities in the United States, nor will there be any sale
of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About GoGold Resources
GoGold Resources (TSX: GGD) is a Canadian-based silver and gold
producer focused on operating, developing, exploring and acquiring
high quality projects in Mexico.
The Company operates the Parral Tailings mine in the state of Chihuahua and has the Los Ricos South
and Los Ricos North exploration projects in the state of
Jalisco. Headquartered in
Halifax, NS, GoGold is building a
portfolio of low cost, high margin projects. For more information
visit gogoldresources.com.
CAUTIONARY STATEMENT:
This news release may contain "forward-looking information" as
defined in applicable Canadian securities legislation. All
statements other than statements of historical fact included in
this release constitute forward-looking information that
involve various risks and uncertainties. Forward-looking
information is based on a number of factors and assumptions which
have been used to develop such information but which may prove to
be incorrect, including, but not limited to, general economic and
market conditions, the intended use of proceeds from the Offering,
mineral prices and the accuracy of mineral resource
estimates. There can be no assurance that such information
will prove to be accurate and actual results and future events
could differ materially from those anticipated in such
forward-looking information.
Important factors that could cause actual results to differ
materially from GoGold's expectations include exploration and
development risks associated with the GoGold's projects, the
failure to establish estimated mineral resources or mineral
reserves, volatility of commodity prices, variations of recovery
rates and global economic conditions. For additional information
with respect to risk factors applicable to GoGold, reference should
be made to GoGold's continuous disclosure materials filed from time
to time with securities regulators, including, but not limited to,
GoGold's Annual Information Form. The forward-looking information
contained in this release is made as of the date of this
release.
SOURCE GoGold Resources Inc.