VANCOUVER, British Columbia,
March 11, 2021 /CNW/ -- St. James
Gold Corp. (TSX-V: LORD) (OTCQB: LRDJF) (FSE: BVU3), the
"Company" is pleased to announced that it has closed
the previously announced non-brokered private placement and has
issued 590,264 units at a price of $1.44 per unit for gross proceeds of $849,980. Each unit will comprise one common
share and one common share purchase warrant, with each warrant
entitling the holder to purchase one additional common share at
$2.50 for a period of two years from
the date of issue.
In conjunction with the company's recently completed
non-brokered private placement in January, 2021, financings and the
exercise of warrants in the past two months have added in excess of
$1.2-million to the company's
treasury.
George Drazenovic, Chief
Executive Officer of St. James Gold, stated: "I would like to thank
all new and existing shareholders for their continued support as we
move the company forward. Closure of this round of financing has
placed St. James in a very
favorable financial position to further explore and develop our
current gold assets in Newfoundland. Concurrently, we intend to
leverage our strong balance sheet to further identify high-impact,
undervalued gold exploration assets in North America."
All securities issued in connection with the offering will be
subject to a statutory four-month-and-one-day hold period from the
closing date, in accordance with applicable securities
legislation.
The proceeds of the offering will used: to conduct exploration
work on the company's Newfoundland
properties; for general corporate and working capital purposes; and
to conduct due diligence on additional potential gold asset
acquisitions.
Dr. Stewart Jackson, PGeo, senior
technical adviser geologist, a qualified person within the meaning
of National Instrument 43-101 -- Standards of Disclosure for
Minerals Projects, has reviewed and approved the technical and
scientific information presented herein.
About St James Gold Corp.
St. James Gold Corp. is a publicly traded company listed on the TSX
Venture Exchange under the ticker "LORD". The company is focused on
creating shareholder value through the discovery and development of
economic mineral deposits by acquiring prospective exploration
projects with well delineated geological theories, integrating all
available geological, geochemical and geophysical datasets, and
funding efficient exploration programs. The Company
currently holds an option to acquire a 100% interest in 29 claims
covering 1,791 acres in the Gander gold district in north-central
Newfoundland adjacent to New Found
Gold Corp.'s Queensway North project, and an option to acquire a
100% interest in 28 claims covering 1,730 acres in central
Newfoundland adjacent to Marathon
Gold's Valentine Lake property. For
more corporate information please visit:
http://stjamesgold.com/
George Drazenovic, CPA, CGA, MBA,
CFA
St. James Gold Corp.
For further information, please contact:
George Drazenovic, Chief Executive
Officer
Tel: 1 (800) 278-2152
Email: info@stjamesgold.com
Forward Looking Statements
The foregoing includes forward looking statements which by their
nature are subject to risks and uncertainties. In particular there
is no assurance that the Company will be successful in its search
for high value gold assets in North
America. The Company's ability to acquire such assets is
subject to supply and demand in the market for such assets and the
financial ability of the Company to acquire such assets or obtain
financing needed to acquire such assets if identified none of which
is certain or can be guaranteed
NEITHER THE 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.
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SOURCE St. James Gold Corp.