Highway 50 Gold Completes Upsized Non-Brokered Private Placement of Units

Executive Summary

• Highway 50 Gold Corp. completed an upsized non‑brokered private placement, raising $2.414 million from the issuance of up to 6,035,000 units at $0.40 per unit.
• Each unit includes one common share and one warrant to purchase a common share at $0.50 for one year; additional finder’s warrants were also issued.
• Proceeds are earmarked for a drill program at the Gold Knob project and general working capital.

Key Details

• Offering Size: Gross proceeds of $2,414,000.
• Units Issued: Up to 6,035,000 units at $0.40 per unit.
• Unit Composition: 1 common share + 1 common share purchase warrant (exercise price $0.50, one‑year term).
• Finder’s Warrants: Issued to arm’s‑length finders; each warrants the purchase of one common share at $0.50 for one year from closing.
• Use of Proceeds:
• Drill program at the Gold Knob project.
• General working capital purposes.
• Closing Conditions: Subject to final acceptance by the TSX Venture Exchange.
• Holding Period: Securities subject to a four‑month hold period per applicable securities laws and exchange rules.
• Regulatory Notice: Units not registered under U.S. securities laws; offering not available to U.S. persons except as permitted.

Notable Quotes

• “The successful completion of this upsized private placement provides us with the necessary capital to advance our drill program at Gold Knob and support ongoing operations,” – Gordon P. Leask, President, CEO & Director.