DIOS Announces Private Placement Of $1,000,000 With A Lead Order From Palisades Goldcorp

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATESMONTREAL, Sept. 04, 2020 (GLOBE NEWSWIRE) — Dios Exploration Inc. (“Dios” or the “Company”) is pleased to announce a private offering of up $1,000,000 (the “Offering”) with a lead order from Palisades Goldcorp Ltd.  The Offering will consist of 8,333,333 units of the Company, at the price of $0.12 each (the ‘Unit’).  Each Unit will be comprised of one common share (“Share”) of the Company and one Share purchase warrant, each granting the holder the right to purchase one Share of the Company at the price of $0.20, for a period of 36 months from the closing date. The net proceeds will be used for exploration work on Dios’ properties and general administrative expenses. Dios is in the process of finalizing logistics for it’s drilling program scheduled to commence in October 2020, on its wholly owned K2 property, James Bay region in Quebec.  The drilling follows work completed by Dios over the last few years on K2 and very recent ground IP (geophysics) survey which has delineated a 3 km long WI target electromagnetic conductor and, among others, the ATTILA gold-copper-silver prospect, which is south-west of Azimut Exploration’s Patwon gold discovery and, bearing similarities in the host rocks (felsic intrusive), alterations and network,  3 sets of quartz veins.  The K2 property is adjacent SW to Azimut Exploration Inc’s Elmer project north of the Opinaca Fault, a major regional structure and is underlain by the same stratigraphy. Securities issued under this financing will be subject to a hold period of four months. This private placement is carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange.  A finder’s fee equal to 6% of the proceeds raised is payable in connection with this financing to an arm’s length party. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.About Dios Exploration Inc.Dios Exploration Inc. is a Quebec based exploration company focusing on gold in glacial lands, through proprietary diamond till sampling having also defined gold glacial dispersal trains with  502 claims along major geological contact at James Bay, including the K2, AU 33, Clarkie, 33 Carats and 14K properties,  all in the renowned mining jurisdiction of Quebec. The strength of Dios’s gold projects lies in their prospective location at James Bay along a major geological structure that is also home to Newmont’s Eleonore deposit and Azimut discovery. Dios’ strong technical team has recognized expertise with more than 30 years experience in mineral management and exploration projects, particularly in glacial terrane, and in building strong relationships with local communities.  All exploration programs are subject to Dios’ strict CSR guidelines.      About Palisades GoldcorpPalisades Goldcorp is Canada’s new resource focused merchant bank. Palisades’ management team has a demonstrated track record of making money and is backed by many of the industry’s most notable financiers. With junior resource equities valued at generational lows, management believes the sector is on the cusp of a major bull market move. Palisades is positioning itself with significant stakes in undervalued companies and assets with the goal of generating superior returns.Cautionary and Forward-Looking StatementsThis press release includes certain statements that may be deemed “forward-looking statements”, for example the planned use of proceeds from the private placement. All statements in this discussion, other than those of historical fact, that address future exploration programs and events or developments that the company expects, are considered forward-looking statements.  Although the Company believes the expectations expressed are based on reasonable assumptions, such statements are not guaranteeing of future performance and actual results or developments may differ materially from those forward-looking statements.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.


Resource News, Oil and Gas News, Mining News, Renewable News

Resource News

Oil, Gas, Mining & Metals

Start typing and press Enter to search

shares