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Sandy Lake Gold Inc. (TSXV:SLAU) has announced a non-brokered private placement.

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Sandy Lake Gold, a Toronto-based mineral exploration company, is focused on the exploration and development of the Sandy Lake Gold project in Canada;

Additional Information:

Company: Sandy Lake Gold Inc.
Website: http://www.SandyLakeGold.com
Stock Symbol: CSE: SLAU
Date Published: Feb 13, 2019
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Sandy Lake Gold Inc. has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $2 million from the placement of 20 million units priced at $0.10 per unit.

Each unit consists of one share and one-half a warrant, with the warrant exercisable at $0.20 for 24 months, subject to an acceleration clause.

The company is also looking to raise up to an additional $1.6 million from the placement of 10 million flow-through shares, priced at $0.16 per share.

It is expected that proceeds of the Offering will be used for exploration expenditures at the Company’s properties, and general corporate purposes.

Sandy Lake Gold, a Toronto-based mineral exploration company, is focused on the exploration and development of the Sandy Lake Gold project in Canada;

The Sandy Lake gold project comprises an approximate 45,000 hectares of mineral claim units in the underexplored Sandy Lake Archean Greenstone Belt in Northwestern Ontario.

In 2014, a limited drill program in the western part of the Sandy Lake claim package returned high grade gold intercepts of 12.86 grams per tonne gold over 6.85 meters and 12.17 grams per tonne gold over 6.2 meters.

The company has proposed the acquisition of the Aremu Oko and Peters Mine properties in Guyana, which are two of the four past producing historical mines in Guyana.

The properties total approximately 25,888 acres and are located in north-central Guyana in the Guiana Shield.

The shares are trading at $0.12.

For more information, please visit the company’s website at www.SandyLakeGold.com, contact Patrick Sheridan, Executive Chairman and CEO, at 416-628-5904 or by email at info@SandyLakeGold.com.

I’m Samantha Deutscher for Investmentpitch Media