Clarity Gold Forms Advisory Board, Appoints First Member, and Closes Non-brokered Private Placement
Vancouver, B.C. (CSE: CLAR, FSE:27G)
CLARITY GOLD FORMS ADVISORY BOARD, APPOINTS FIRST MEMBER, AND
CLOSES NON‐BROKERED PRIVATE PLACEMENT
Vancouver, BC – July 31, 2020, Clarity Gold Corp. (“ Clarity” or the “ Company”) (CSE: CLAR) announces
t h a t i t s B o a r d o f D i r e c t o r s h a s f o r m e d a n a d v i s o r y b o a r d a n d h as named accomplished mining sector
professional, Ian Graham to its Advisory Board. Mr. Graham has over 20 years of experience in the
development and exploration of mineral projects, and his experti s e i n c o r p o r a t e t r a n s a c t i o n s , p r o j e c t
evaluations, and exploration will be an asset to Clarity.
“Ian’s extensive experience is invaluable for the current growth stage of the Company.” said James
Rogers, CEO of Clarity. “We are pleased to welcome someone of h is caliber to add to the strength of our
team, we look forward to working closely to increase the qualit y of our efforts and maximize the value
for our shareholders”.
Mr. Graham’s experience is mostly at major mining companies, na mely Rio Tinto and Anglo American,
including as Chief Geologist with the Project Generation Group at Rio Tinto. He has been involved with
evaluation and pre‐development work on several projects in Canada and abroad, including Resolution
Copper (Arizona, USA), Diavik Diamond Mine (Northwest Territories, Canada), Eagle Nickel (Michigan,
USA), Lakeview Nickel (Minnesota, USA) and Bunder Diamonds (Ind ia). Mr. Graham’s experience in the
junior sector are mostly in C‐level positions and includes exploration startups that have made new
discoveries or acquired overlooked discoveries in base and prec ious metals and industrial commodities
(graphite, potash). He is a passionate believer in the positive social and economic benefits of responsible
resource development and is a proponent for the deployment of ve n t u r e c ap i t a l f o r t h e e x p a n s i o n o f
the global resource base. Ian studied Geology at the University o f R e g i n a a n d e a r n e d a B S c ( H o n s ) i n
Geology at the University of KwaZulu Natal in South Africa.
“ I l o o k f o r w a r d t o c o n t r i b u t i n g t o C l a r i t y a s t h e c o m p a n y w o r k s toward reaching its corporate
m i l e s t o n e s . ” M r . G r a h a m s t a t e d . “Clarity has a solid team and I’m honoured to help the Company
continue creating value for its shareholders.”
Issuance of Options
The Company is also pleased to announce that it has granted incentive stock options (each, an “Option”)
to acquire an aggregate of 100,000 common shares of the Company (each, a “ Share”) to certain
consultants under its stock option plan. Each Option is exercisable for a period of three years expiring on
July 31, 2023 at a price of $1.00 per Share. The Options are su bject to vesting provisions, with one‐third
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vesting on the date of grant, one‐third on the first anniversar y of the date of grant and the remaining
one‐third on the second anniversary thereof.
Closing of Private Placement
Further to the Company’s news release July 22, 2020, Clarity wi shes to announce the closing of a non‐
brokered private placement (the “ Offering”), whereby the Company issued 2,158,000 units (each,
a “Unit”) at a price of $0.30 per Unit for aggregate gross proceeds of $647,400.
Each Unit is comprised of one Share and one half of one Share p urchase warrant (each whole warrant,
a “Warrant”), with each Warrant entitling the holder to acquire one Share (each, a “ Warrant Share”) at
a p r i c e o f $ 0 . 3 5 p e r W a r r a n t S h a r e f o r a p e r i o d o f t w o y e a r s f ollowing the closing of the Offering
(the “Closing”).
The proceeds from the Offering are expected to be used for gene ral working capital purposes. In
connection with the Closing, the Company paid a $10,000 cash fi nder’s fee and issued 79,310
compensation warrants (each, a “ Finder’s Warrant”) to Leede Jones Gable Inc. Each Finder’s Warrant is
exercisable into one Share (each, a “ Finder’s Warrant Share ”) at a price of $0.30 per Finder’s Warrant
Share for a period of two years following the Closing.
All securities issued in connection with the grant of the Options and the Offering are subject to a
statutory hold period expiring four months and one day following t h e d a t e o f i s s u a n c e , a s s e t o u t i n
National Instrument 45‐102 ‐ Resale of Securities.
None of the securities sold in connection with the Offering will be registered under the United States
Securities Act of 1933 , as amended, and no such securities may be offered or sold in the United States
absent registration or an applicable exemption from the registration requirements. This news 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 jurisdiction in which such offer, solicitation or sale would be unlawful.
About Clarity
Clarity Gold Corp. is a Canadian mineral exploration company focused on the acquisition, exploration
and development of gold projects in Canada. The Company is focused on the exploration of its 10,518 ha
Empirical Project located approximately 12 km south of Lillooet, BC, and has recently expanded its
mineral property portfolio with the acquisitions of the Tyber and Gretna Green projects, both located on
Vancouver Island, British Columbia. The Company is based in Van couver, British Columbia, and is listed
on the CSE under the symbol “CLAR”. To learn more about Clarity Gold Corp. and its projects please visit
www.claritygoldcorp.com.
ON BEHALF OF THE BOARD
“James Rogers”
Chief Executive Officer
Tel: 1 (833) 387‐7436
Email: [email protected]
Website: www.claritygoldcorp.com
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CAUTIONARY STATEMENT REGARDING FORWARD‐LOOKING INFORMATION: This news release includes certain
“forward‐looking statements” under applicable Canadian securities legislation. Forward‐looking statements consist
of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or
intentions regarding the future. Such forward‐looking statemen ts in this news release include, but are not limited
to, statements regarding the Offering and the expectations of m anagement regarding the use of proceeds of the
Offering. Such statements are subject to risks and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the s tatements, including risks related to factors beyond
the control of the Company. No assurance can be given that any of the events anticipated by the forward‐looking
statements will occur or, if they do occur, what benefits the Company will obtain from them. There can be no
assurance that such statements will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Risks that could ch ange or prevent these statements from coming to
fruition include, but are not limited to, the Company not using the proceeds of the Offering as stated in this news
release, general market conditions and other factors beyond the d i r e c t c o n t r o l o f t h e C o m p a n y . A c c o r d i n g l y ,
readers should not place undue reliance on forward‐looking stat ements. The Company disclaims any intention or
obligation to update or revise any forward‐looking statements, w h e t h e r a s a r e s u l t o f n e w i n f o r m a t i o n , f u t u r e
events or otherwise, except as required by law.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the
contents of this press release.