VANCOUVER, BC – September 14, 2020 – Gambier Gold Corp. (TSX-V: GGAU) (the “Company”) announces that the Company the closing of its non-brokered private placement announced June 4, 2020 and updated July 27, 2020.
On closing the Company issued 3,793,400 units at a price of $0.06 per Unit for gross proceeds of $227,604. Each Unit was comprised of one common share and one-half of one transferable share purchase warrant. Each whole warrant entitles the holder to purchase one common share of the Company at a price of $0.15 per share for three (3) years from closing of the private placement.
Net proceeds from the Offering will be used for exploration at its Hemlo (Ontario) and Urban Barry (Québec) gold projects. Specifically, $40,000 of the proceeds will be used to directly pay for the Detour West acquisition.
The shares and any shares that are issued pursuant to the exercise of the warrants are subject to a four-month and one-day hold period from the closing of the private placement.
ON BEHALF OF THE BOARD
Michael E. Schuss
President & CEO
For further information, please contact:
Gambier Gold Corp.
Phone: (604) 241-2254
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.