Announces Proposed Private Placement
SHOSHONI GOLD LTD.
Suite 701 - 595 Howe Street Vancouver, BC V6C 2T5
SHOSHONI GOLD LTD.
ANNOUNCES PROPOSED PRIVATE PLACEMENT
Vancouver, BC, August 4, 2017 – Shoshoni Gold Inc. (SHJ:TSXV) (the “Company” or “Shoshoni”) announces that it intends to complete a non-brokered private placement in the aggregate amount up to $250,000 consisting of of up to 5,000,000 units (the "Units") at a price of $0.05 per Unit (the “Offering”). Each Unit will consist of one common share and one one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one common share at an exercise price of $0.05 for a period of 3 year following the closing of the Offering.
Finder's fee may be payable in cash and warrants in accordance with the policies of the TSXV. All securities issued in connection with the private placement are subject to a 4-month hold period from the date of issue under National Instrument 45-102 and the policies of the TSXV. Completion of the Offering is subject to receipt of all regulatory approvals, including the approval of the TSXV.
Net proceeds from the Offering will be utilized to fund the 2017 Work Program on Kirkland Creek Project in
| southern Yukon, payment of current liabilities and for general working capital purposes. | The Company will |
| conduct exploration at its Kirkland Creek property in southern Yukon. The 2017 Work Program is anticipated | |
| to include a grid soil geochemical survey, prospecting and geological mapping of a silicified and clay altered | |
| zone exposed along a ridge top. |
Contact Person: Mr. Glen Macdonald, P. Geo.
Telephone: (604)719-8129
Email: [email protected]
About the Company
Shoshoni Gold Ltd. is focused on acquiring, exploring and developing gold resources. The Company’s primary project is its Kirkland’s Creek project, located in southern Yukon.
Shoshoni has 9,006,150 shares issued and outstanding and trades on the TSX Venture Exchange under symbol: SHJ.H.
ON BEHALF OF THE BOARD
(signed) “Glen Macdonald”
Glen Macdonald Chief Financial Officer and Director
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.
This news release may contain forward-looking statements that are based on Shoshoni Gold Ltd.'s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward- looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and Shoshoni Gold Ltd. undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.