Vancouver, B.C. October 13, 2020 – STEVENS GOLD NEVADA INC. (CSE: SG) (the “Company” or “Stevens Gold”) is pleased to announce that it intends to complete a private placement offering of up to 2,777,777 units of the Company at a price of $0.18 per unit (the “Units”) for aggregate gross proceeds to the Company of up to $500,000 (the “Private Placement”). The Units are to be offered and sold by private placement in Canada to “accredited investors” within the meaning of National Instrument 45- 106 and other exempt purchasers in each province of Canada. The net proceeds of the Private Placement will be used by the Company for exploration costs, the payment of fees to consultants and general working capital.
Each Unit will be comprised of one common share in the capital of the Company (a “Common Share”) and a Common Share purchase warrant (a “Warrant”) entitling the holder to purchase one Common Share at a price of $0.235 per Common Share for a period of 24 months following the closing date. The Common Shares will be listed on the Canadian Securities Exchange (the “CSE”).
Closing of the Private Placement is expected to take place on or about November 5, 2020, or such other date proposed by the Company and is subject to customary closing conditions, including the approval of the regulatory authorities and completion of all legal documentation. The Company may close the Private Placement in one or more closings with one or more investors acceptable to the Company.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. All securities issued in connection with the Private Placement will be subject to a statutory hold period of four months plus one day from the date of issuance of the securities in accordance with applicable Canadian securities legislation. In addition, the securities to be offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act.
About Stevens Gold Nevada Inc.:
Stevens Gold Nevada Inc. is a mineral exploration company. Its primary business objective is to explore mineral properties. It currently is exploring its optioned claims in Nevada with a view to acquiring ownership interest in the Black Point property.
ON BEHALF OF STEVENS GOLD NEVADA INC.
CEO, President, Director & Secretary
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Stevens Gold. Forward-looking information is based on certain key expectations and assumptions made by the management of Stevens Gold. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) it intends to complete a private placement offering of up to 2,777,777 units at a price of $0.18 per unit, (b) the Units will be offered to “accredited investors” and/or other exempt purchasers in Canada, (c) the net proceeds will be used as described above and (d) closing will take place on or about November 5, 2020. Although Stevens Gold believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Stevens Gold can give no assurance that they will prove to be correct.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.