Highway 50 arranges $1.5-million private placement

Executive Summary

• Highway 50 Gold Corp. announced a non-brokered private placement to raise up to $1.5 million in gross proceeds.
• The company will issue up to 3.75 million units at a price of $0.40 per unit, with each unit comprising one common share and one common share purchase warrant.
• Proceeds are designated for a drill program at the Gold Knob project and general working capital.

Key Details

• Transaction Structure: Non-brokered private placement of units.
• Gross Proceeds: Up to $1.5 million.
• Units Issued: Up to 3.75 million units.
• Price Per Unit: $0.40.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of $0.50 per share.
• Warrant Expiration: One year from the closing date of the offering.
• Use of Proceeds:
  1. Drill program at the company's Gold Knob project.
  2. General working capital purposes.
• Hold Period: Securities are subject to a four-month hold period in accordance with applicable securities laws and exchange rules.
• Finders' Fees: 6% (or other amount determined by the company) may be paid to arm's-length finders in cash and/or finders' warrants.
• Conditions: The offering is subject to the acceptance of the exchange.