AurCrest Gold closes $700,000 Brokered Private Placement

Toronto, Ontario, December 7, 2020 - AurCrest Gold Inc. (the “Company” or “AurCrest”) (TSX-V: AGO) is pleased to announce the closing of the $700,000 brokered private placement (the “Offering”) announced on November 19, 2020 with the issuance of 11,666,667 working capital units (the “WC Units”) of the Company at a price of $0.06 per WC Unit for gross proceeds of $700,000. The Offering was led on a best-efforts basis by IBK Capital.

 

Each WC Unit consists of one (1) common share of the Company priced at $0.06 per common share and one-half (0.5) of a common share purchase warrant with each full warrant (each a “WC Warrant”) entitling the holder to acquire one (1) common share until December 4, 2022.

 

The Company paid IBK Capital a commission of $49,000.00 cash and issued 1,166,666 broker warrants (“Broker Warrants”). Each Broker Warrant entitles the holder to acquire a WC Unit until December 4, 2022 at a price of $0.06 per Broker Warrant.  

 

All securities issued are subject to a statutory hold period expiring on April 5, 2021.

 

AurCrest Gold is a leader in the First Nations advancement into shared participation and inclusion in the regional mining opportunities and counts as its board of directors and management, past and present, many indigenous business and cultural leaders. AurCrest is proud to play a leading role in the gold exploration of Northwestern Ontario, especially in the Birch-Uchi Greenstone Belt and the Red Lake mining district, as it forges new business relationships between Canada’s founding cultures.

 

About IBK Capital Corp.

 

IBK Capital is an independent and privately owned investment banking firm which offers a full range of financial advisory services.  Such services include private placements of equity and debt, going public by way of reverse take-over, merger, acquisition and divestiture advisory services, valuations, fairness opinions and take-over defence planning. The Firm’s corporate objective is to provide the highest quality independent financial advisory services to its clients.

 

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, Ranger Lake and Bridget Lake gold properties.

 

FOR FURTHER INFORMATION PLEASE CONTACT:

 

AurCrest Gold Inc.

 

Christopher Angeconeb

President and C.E.O

(807) 737-5353

christopherangeconeb@gmail.com

 

Ian Brodie-Brown

Director of Business Development

(416) 844-9969

ianbrodiebrown@gmail.com