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12:00:45 EDT Thu 09 May 2024
Enter Symbol
or Name
USA
CA



Goldbank Mining Corp (2)
Symbol GLB
Shares Issued 139,922,655
Close 2023-10-18 C$ 0.07
Market Cap C$ 9,794,586
Recent Sedar Documents

Goldbank closes $1.33M final tranche of financing

2023-10-19 15:55 ET - News Release

Subject: Goldbank Mining Corporation - news release PDF Document File: Attachment NR 2023 10 19 Private Placement Closed (2nd Tranche).pdf 12g3-2(b): 82-4000 Standard & Poor's Listed TSX Venture Exchange: GLB OTC: GLBKF October 19, 2023 BALANCE OF $1,500,000 FINANCING CLOSED Goldbank Mining Corporation ("Goldbank")(TSX.V-GLB) is pleased to announce it has closed the final $1,337,500 tranche of its previously announced financing by issuing 26,750,000 units at $0.05 per unit. Each unit is one common share and one five-year transferable warrant. Each warrant is exercisable for one share at $0.065 per share. $1,287,500 was issued on a flow-through basis. Flow-through shares, including shares issuable on exercise of the warrants comprising the flow- through units, will entitle holders to receive the tax benefits applicable to flow-through shares in accordance with provisions of the Income Tax Act (Canada). Mr. Anthony Beruschi, a control person of Goldbank, acquired 25,000,000 units for $1,250,000, comprising 83.3% of the financing, constituting a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Goldbank is relying on the exemptions contained in sections 5.5(a) and section 5.7(1)(a) as the fair market value of the participation in the private placement by the insiders does not exceed 25 per cent of the market capitalization of Goldbank, as determined in accordance with MI 61-101. Goldbank's board of directors reviewed and approved the private placement subscription by Mr. Beruschi. Goldbank did not file a material change report in respect of the related party transaction at least 21 days before closing of the private placement as the date of closing was not previously known. Proceeds will be used for exploration and development of Goldbank's Klondike gold properties including costs related thereto, debt payments and working capital. The terms of the financing have been accepted for filing by the TSX Venture Exchange. The units are restricted from trading until February 20, 2024. Goldbank Mining Corporation is a Canadian exploration company actively exploring for gold in the historic Klondike Goldfields near Dawson City, Yukon, Canada. For further information please e-mail jb@goldbankmining.com. GOLDBANK MINING CORPORATION PER: "James Boyce" Suite 702 889 West Pender Street Vancouver, BC CANADA V6C 3B2 JAMES BOYCE President & CEO Telephone: 604.683.3288 Toll Free: 1.888.880.2288 Email: jb@goldbankmining.com The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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