Highway 50 Gold Upsizes Non-Brokered Private Placement of Units

Executive Summary

• Highway 50 Gold Corp. increased its previously announced non‑brokered private placement, now targeting up to $2.1 million in gross proceeds.
• The offering consists of up to 5,250,000 units at $0.40 per unit, each unit containing one common share and one warrant to purchase a share at $0.50 for one year.
• Proceeds will fund a drill program at the Gold Knob project and provide general working‑capital support.

Key Details

• Units Offered: Up to 5,250,000 units (each = 1 common share + 1 warrant).
• Purchase Price: $0.40 per unit; total gross proceeds target of $2,100,000.
• Warrant Terms: Each warrant allows purchase of one common share at $0.50 per share for a period of one year from the closing date.
• Use of Proceeds:
• Drill program at the Gold Knob project.
• General working‑capital purposes.
• Regulatory Conditions: Offering subject to acceptance by the TSX Venture Exchange.
• Holding Period: Securities subject to a four‑month hold period under applicable securities laws and exchange rules.
• Finder’s Fees: Up to 6 % (or other amount as determined) may be paid to arm’s‑length finders in cash and/or warrants on proceeds.
• U.S. Offering Restrictions: Securities not registered under the U.S. Securities Act; cannot be offered or sold in the United States except pursuant to exemptions or registration.

Notable Quotes

(No direct quotes were provided in the release.)