January 30, 2018 – Vancouver, British Columbia. Sitka Gold Corp. (the “Company”) is pleased to announce that it successfully completed its initial public offering (the “Offering”) of 6,000,000 units of the Company (the “IPO Units) at a price of $0.20 per IPO Unit for gross proceeds of $1,200,000. Each IPO Unit is comprised of one (1) common share of the Company and one-half (1/2) of one transferable share purchase warrant, each whole warrant entitling the holder to acquire one additional common share of the Company at a price of $0.30 per share until January 30, 2020. After giving effect to the Offering, the Company now has 16,367,000 common shares issued and outstanding.
The lead agent for the Offering was PI Financial Corp. (the “Agent”). The Agent received a cash commission equal to 8% of the gross proceeds of the Offering as well as non-transferable warrants entitling the Agent and members of its selling group to purchase up to an aggregate of 480,000 common shares of the Company at a price of $0.30 per common share until January 30, 2020. The Agent also received a corporate finance fee.
The Company anticipates that its common shares will begin trading on the Canadian Securities Exchange on or about January 31, 2018 under the trading symbol “SIG”.
The net proceeds of the Offering will primarily be used to fund exploration expenditures on the Adobe Gold Property which the Company has under option from Intercept Minerals Corporation and for general working capital requirements.
Sitka Gold Corp. is a junior mining resource exploration company managed by a team of experienced mining industry professionals and is focused on exploring for economically viable mineral resources with its primary emphasis on gold and copper mineral properties of merit. The Company currently has an option to acquire a 100% interest in the Adobe Gold Property in Nevada, USA. For more information, please refer to the Company’s prospectus dated December 8, 2017 available on SEDAR (www.sedar.com).
ON BEHALF OF THE BOARD OF DIRECTORS
Corwin Coe
Chief Executive Officer
For further information, please contact: Corwin Coe: 604-817-4753
