September 18, 2020 – Vancouver, Canada - Guyana Goldstrike Inc. (the “Company” or “Guyana Goldstrike”) (TSXV: GYA, OTC: GYNAF). As previously announced, the Company intends to consolidate its common share capital on a one-for-five basis (the “Consolidation”). In connection with completion of the Consolidation, the Company announces that it will conduct a non-brokered private placement of up to 15,384,615 post-Consolidation units (the “Units”) at a price of $0.13 per Unit for gross proceeds of up to $2,000,000 (the “Offering”).
The Units to be issued under the proposed Offering will consist of one post-Consolidation common share of the Company and one share purchase warrant (each whole warrant, a “Warrant”). The Warrants will be exercisable for a period of 36 months from closing at a post-Consolidation exercise price of $0.40.
In connection with the completion of the Offering, the Company may pay finders’ fees to eligible parties that assisted in introducing subscribers to the Company. All securities to be issued in connection with the Offering will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. Completion of the Consolidation and the Offering remains subject to approval of the TSX Venture Exchange. Completion of the Offering is subject to completion of the Consolidation.
On behalf of the Board of Directors of
GUYANA GOLDSTRIKE INC.
President and Chief Executive Officer
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.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for gold, changes in exploration costs and government regulation in Guyana, status of artisanal mining activities and associated rights, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.