VANCOUVER, British Columbia, Feb 24, 2021 (GLOBE NEWSWIRE via COMTEX) --
VANCOUVER, British Columbia, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Mojave Gold Corp. ("Mojave" or the "Company") wishes to correct an error in its press release entitled "MOJAVE SAMPLES 16.2g/t GOLD ON RECONNAISSANCE of the SONORA GOLD PROPERTY" issued February 24, 2021 (the "February 24 News Release").
The February 24 news release incorrectly stated Mojave's intention to undertake a non-brokered private placement of up to 3,000,000 units of the Company (the "Units") at a price of $0.50 per Unit (the "Offering") for a total of CA $1.5 million.
The Company intends to undertake a non-brokered private placement of up to 6,000,000 Units of the Company (the "Units") at a price of $0.50 per Unit (the "Offering") for a total of up to CA $3.0 million.
Each Unit is comprised of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable to acquire one Common Share (a "Warrant Share") at a price of $0.88 per Warrant Share for a period of 24 months from the date the financing is closed.
The proceeds of the Offering will be used to continue project development work in Mexico and for general corporate purposes.
On behalf of the Board of Directors
"Greg Bronson" President / CEO Mojave Gold Corp.
Forward Looking Statements
Certain of the statements made and information contained herein may contain forward- looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information. We seek safe harbour.
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