MAS Gold announces the closing of the first tranche of its private placement financing


VANCOUVER, BC, May 20, 2022 /CNW/ – MAS Gold Corp. (“MAS Gold“or the”Company“) – (TSXV: MAS) is pleased to announce the closing of the first tranche of a non-brokered private placement financing (the “Private Placement”) of units (the “Units”). The Company has issued 21 625,000 Company Units at a price of $0.08 per unit for a product of $1,730,000. The Company expects to close the second and final tranche in June 2022.

Each Unit consists of one common share (a “Common Share”) and one (1) common share purchase warrant (a “Warrant”). Each warrant is exercisable to acquire one common share (a “Warrant Share”) at a price of $0.20 for 24 months after the closing of the private placement, subject to earlier expiry if, commencing four months after the closing of the private placement, the daily volume-weighted average trading price of the common shares exceeds $0.30 for 10 consecutive trading days.

MAS Gold will pay finder’s fees on a portion of the offering in accordance with applicable securities laws and the policies of the TSXV. The finder’s fee is 7% in cash and 7% in warrants.

MAS Gold intends to use the net proceeds from the private placement to help the company advance its pipeline of potential projects as well as its working capital requirements and for other general corporate purposes.

CEO of MAS Gold Jim Engdahl commented, “I am extremely pleased that we were able to close the first tranche of the financing above our anticipated minimum, in large part due to the investment of company management, insiders and board members. administration who took the majority of this tranche. the markets are extremely bearish, and the closing of this first tranche demonstrates shareholders’ strong support for the company’s strategies in achieving their gold resource expansion goals. Additional results from our winter drilling program are expected in the near term, which we believe will also assist the Company in achieving its exploration and development objectives. »

The private placement is subject to final acceptance by the TSXV. The securities issued through the placement are subject to a statutory hold period of four months and one day.

About MAS Gold Corp.

MAS Gold Corp. is a Canadian mining exploration company focused on exploration projects in the future La Ronge greenstone belt Saskatchewan. In the belt, MAS Gold Corp. operates the Greywacke, North Lake and the Point Advanced Gold Projects, each containing zones of gold mineralization intercepted by drilling. MAS Gold’s NI 43-101 Technical Report June 1, 2016 concerning the Greywacke deposit is available on SEDAR and on the MAS Gold website:

On behalf of the Board of Directors of MAS Gold Corp.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction in which such offer or solicitation would be unlawful prior to registration or qualification under securities laws. of this jurisdiction.

The securities offered under the Offer have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any State of United Statesand may not be offered or sold in United States or to, or for the account or benefit of, any U.S. Person (as defined in Regulation S of the Securities Act) or a person in United Statesunless an exemption from these registration requirements is available.

Caution Regarding Forward-Looking Information and Statements

This press release contains certain forward-looking statements or information that could cause actual results to differ materially from MAS Gold’s plans or expectations. All statements other than statements of historical fact included in this release, including, without limitation, planned exploration and development programs, statements regarding metallurgical results and results, any updated technical reports, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limited to: risks related to the actual results of current and future exploration activities, fluctuations in gold prices, the possibility of equipment failures and delays, cost overruns, that MAS Gold may lose or abandon its ownership interests or fail to receive necessary licenses and permits, availability of capital and financing and general economic, market or trade conditions. The forward-looking statements included in this press release are made as of the date hereof, and MAS Gold disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.

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 press release.


For further information: Jim Engdahl, President and CEO, t: 306-986-5722, c: 306-262-4964