VANCOUVER, BC / ACCESSWIRE / April 1, 2024 / SNOWLINE GOLD CORP. (TSX-V:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce the early, voluntary exercise of 5 million warrants for total proceeds to the Company of C$12.5 million. The warrants were held by Ana Maria Cox de Gubbins. Through this acquisition, Ms. Cox has expanded her position to 10.6% of the outstanding shares of the Company.
"I would like to extend my congratulations and thanks to the Snowline team for their efforts and excellent work in building significant shareholder value," said Ms. Cox. "We have had confidence in the Berdahl family's initial exploration ideas for this area since before the Valley discovery was made. The results we have seen to date only strengthen our conviction in Snowline as a company and in the potential of the ground they explore."
Added Scott Berdahl, CEO & Director of Snowline: "The ongoing support of Ms. Cox from our early exploration efforts in 2021 through to today has been a key component of Snowline's strength in a difficult capital markets landscape. We are grateful for the support and for this display of confidence through early exercise of these warrants. The funds strengthen Snowline's current treasury position to C$46.3 million, allowing us to focus on exploration and project advancement in what promises to be an exciting and potentially transformative 2024 field season."
EARLY WARNING DISCLOSURE
On March 28, 2024, Ana Maria Cox de Gubbins acquired 5,000,000 common shares of the Company (the "Common Shares") upon the exercise of common share purchase warrants (the "Warrants") at a price of C$2.50 per Warrant for an acquisition cost of C$12,500,000 (the "Acquisition"). Prior to the Acquisition, Ms. Cox owned, directly or indirectly, or exercised control or direction over, 11,120,000 Common Shares, representing approximately 7.6% of the issued and outstanding Common Shares. Immediately following the Acquisition, Ms. Cox owns, directly or indirectly, or exercises control or direction over, 16,120,000 Common Shares, representing approximately 10.6% of the issued and outstanding Common Shares. The Acquisition was made for investment purposes. In accordance with applicable securities laws, Ms. Cox may, from time to time and at any time, acquire additional securities of the Company in the open market or otherwise, and reserves the right to dispose of any or all of her securities in the open market or otherwise at any time and from time to time, the whole depending on market conditions, the business and prospects of the Company and other relevant factors. This disclosure is provided pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Company is a reporting issuer, containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will be available under the Company's profile on SEDAR+ at www.sedarplus.ca or may be obtained by contacting the Company at Suite 1012 - 1030 West Georgia Street, Vancouver, BC V6E 2Y3, info@snowlinegold.com, (778) 650-5485.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline's project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross's Fort Knox Mine, Northern Star's Pogo Mine, and Victoria Gold's Eagle Mine. The Company's first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
ON BEHALF OF THE BOARD
Scott Berdahl
CEO & Director
For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements regarding the potential of the 2024 field season to be a transformative year for the Company, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company's future plans and intentions. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company's plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
SOURCE: Snowline Gold Corp.
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