| VANCOUVER, Canada, November 19, 2021, Golden Dawn Minerals Inc., (TSX-V: GOM | FRANKFURT: 3G8C | OTC Pink: GDMRD), (“Golden Dawn” or the “Company”), is pleased to announce that it has closed the non-brokered private placement announced on November 8, 2021 by issuing 5,000,000 flow through shares at a price of $0.20 per share for gross proceeds of $1,000,000. Each flow-through unit will comprise of one common share (which is a flow-through share for Canadian income tax purposes) and one share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at the price of $0.30 for 24 months after closing. The net proceeds from the offering will be used by the Company for continued exploration on its Greenwood precious metals projects in southeastern British Columbia. The placement closed in two tranches. The first tranche consisted of 4,612,500 flow through shares at a price of $0.20 per share for gross proceeds of $922,500. For the first tranche, the Company paid a cash commission of $70,000 and issued 318,182 finders warrants to Qwest Investment Fund Management Ltd. These finder warrants are valid for 2 years from closing with an exercise price of $0.20. The Company also paid a cash commission of $12,800. and issued 64,000 finders warrants to EMD Financial. These finder warrants are valid for 2 years from closing with an exercise price of $0.30. All securities issued in connection with the first tranche will be subject to a hold period expiring March 13, 2022. The second tranche consisted of 387,500 flow through shares at a price of $0.20 per share for gross proceeds of $77,500. The Company paid a cash commission of $5,425. and issued 27,125 finders warrants to an arm’s length finder. These finder warrants are valid for 2 years from closing with an exercise price of $0.30. All securities issued in connection with the second tranche flow through Offering will be subject to a hold period expiring March 19, 2022. The closing of this private placement financing is subject to final TSX-V approval. |
| On behalf of the Board of Directors: GOLDEN DAWN MINERALS INC. Per: “Christopher R. Anderson” Christopher R. Anderson Chief Executive Officer For further information, please contact: Golden Dawn Minerals Inc. – Corporate Communications: Tel: 604-221-8936 Email: Office@goldendawnminerals.com |
