Vancouver, British Columbia--(Newsfile Corp. - February 10, 2020) - Eclipse Gold Mining Corporation (TSXV: EGLD) ("Eclipse" or "the Company") announced today that, on February 6, 2020, the Company filed a final prospectus with the British Columbia Securities Commission ("BCSC") qualifying the distribution of the common shares in the capital of the Company issuable for no additional consideration upon deemed exercise of the 15,500,232 subscription receipts of the Company issued on November 19, 2019 (the "Subscription Receipts") and has received a receipt for the filing.
On February 7, 2020, the TSX-Venture Exchange ("TSX.V") confirmed that Eclipse had met all TSX.V requirements for listing on the TSX.V, subject to the conversion of the Subscription Receipts. Today, the Subscription Receipts were converted into common shares of the Company and the funds held in escrow in connection with the issuance of the Subscription Receipts in the amount of $5,425,081 have been released to the Company. The funds will be used by Eclipse to fund the advancement of its mineral properties and the operation of the Company.
Eclipse expects that the common shares of the Company will be listed and begin trading on the TSX.V under the symbol "EGLD" on February 18, 2020.
Additional information on Eclipse can be found in the Company's final prospectus dated February 6, 2020 as filed on SEDAR at www.sedar.com.
Eclipse Gold Mining is exploring the district-scale Hercules gold property within the Walker Lane. The Hercules property is located approximately 1 hours drive from Reno, Nevada. The Company brings together a team with collective funding of over $2 billion in both strong and weak markets and a track record of at least ten successful buyouts/exits. Our strategy is to begin with the end game in mind: deliver wealth-generating liquidity for shareholders through a major discovery.
Michael G. Allen, P.Geo
President, CEO and Director
Corporate Inquiries: Dylan Berg, firstname.lastname@example.org
Direct: +1 (778) 945-3949
Company Website: www.eclipsegoldmining.com
Toll Free: +1 (844) 427-6453
Forward looking and other cautionary statements
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This press release includes "forward-looking information" that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company's common shares on the TSXV, the use of funds and the Company's strategy are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management's best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, general business conditions, continued availability of capital and financing and fluctuations in metal and commodity prices. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company's final prospectus dated February 6, 2020 and filed under the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update forward looking statements or forward looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.
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