AurCrest Gold Announces First Closing of Non-Brokered Offering

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AurCrest Gold Announces First Closing of Non-Brokered Offering

posted on Sep 25, 2018 09:01AM

2018-09-25 08:02:48 AM ET (Filing Services Canada)

AurCrest Gold Announces First Closing of Non-Brokered Offering

Toronto, Ontario (FSCwire) - AurCrest Gold Inc. (the Company or AurCrest) (TSX-V: AGO) (FRANKFURT: TM8A, WKN: A0YG1K) is pleased to announce that, further to its Press Release dated September 18, 2018, it has closed the first tranche of its non-brokered offering (the WC Offering) with the issuance of 450,000 working capital units (the WC Units) at a price of $0.05 per WC Unit for proceeds of $22,500. The securities issued are subject to a hold period expiring on January 26, 2019.

The Company will leave the remainder of the WC Offering of up to 4,550,000 WC Units open until at least October 10, 2018.

The Company also wishes to announce that its agreement to acquire the 2% Net Smelter Returns Royalty on the Companys Richardson Lake Property, originally announced on May 11, 2018, has been further extended to October 10, 2018 in consideration for the payment of $5000. If the remaining $35,000 is not paid by the extension date, the agreement will be terminated.

About AurCrest Gold Inc.

AurCrest is a mineral exploration company focused on the acquisition, exploration, and development of gold properties. AurCrest has a portfolio of properties in Ontario, which include the Richardson Lake and Bridget Lake gold properties.

FOR FURTHER INFORMATION PLEASE CONTACT:

To view this table, please either click on the link below, or copy and paste the link into your browser:

Forward Looking Statement:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Companys actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. AurCrest un dertakes no obligation to update such forward-looking statements if circumstances or managements estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

Neither 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.