Goldshore Resources Inc. (TSXV: GSHR) revealed their plan to conduct a non-brokered private placement of a maximum number of 4,000,000 units with a rate of $0.25 per unit, which will generate a gross sum of up to $1,000,000. Each unit comprises one common share of the Company and one-half common share purchase warrant. The warrant holders can exercise the right to buy one common share for $0.40 within 24 months from closing the offering. The securities issued in connection with the financing are subject to a four-month and one-day hold period as per the applicable securities laws in Canada. This financing is subject to the approval of the TSX Venture Exchange. The Company has planned to allocate the funds raised from the financing for developing its Moss Lake gold mine in Northwest Ontario, Canada, and for general funding of its working capital.
It is to be noted that this press release does not constitute an offer to purchase any securities in the United States. The securities in question have not been registered as per the U.S. Securities Act of 1933 and, thus, cannot be offered or sold in the U.S. or to U.S. citizens without proper registration or an exemption.