News

Crescat Elects to Exercise its Participation Rights, Ethos to Proceed with $1.33 Million Charity Flow Through Offering at $0.24 Per Unit

May 12, 2021

Vancouver, British Columbia--(Newsfile Corp. - May 12, 2021) - Ethos Gold Corp. (TSXV: ECC ) (OTCQB: ETHOF ) (FSE: 1ET ) (" Ethos " or the " Company ") announces its intention to carry out a non-brokered private placement of national charity flow-through units for gross proceeds of up to C$1,333,333 (the "Offering"). The Offering will consist of up to 5,555,555 flow through units priced at $0.24 per unit (each, a "Unit"). Each Unit will be comprised of one flow through share, and one half of one no

Vancouver, British Columbia--(Newsfile Corp. - May 12, 2021) - Ethos Gold Corp. (TSXV: ECC) (OTCQB: ETHOF) (FSE: 1ET) ("Ethos" or the "Company") announces its intention to carry out a non-brokered private placement of national charity flow-through units for gross proceeds of up to C$1,333,333 (the "Offering"). The Offering will consist of up to 5,555,555 flow through units priced at $0.24 per unit (each, a "Unit"). Each Unit will be comprised of one flow through share, and one half of one non-flow through common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable into one common share of the Company at an exercise price of $0.30 for a period of two years following closing. Proceeds of this offering will be utilized on eligible flow through expenditures on the Company's projects within Canada.

In connection with the offering, Crescat Portfolio Management, LLC ("Crescat") has agreed to purchase all of the Units on the back-end in accordance with participation rights granted to Crescat by the Company pursuant to a subscription agreement dated August 24, 2020 (the "Agreement").

"This placement demonstrates Crescat's full support for Ethos' aggressive exploration plans across its numerous Canadian projects this season," commented Kevin Smith, CIO of Crescat Capital. "Ethos has a strong team led by renowned explorer, Dr. Rob Carpenter. We like to back solid technical teams exploring high quality projects. This is the case at Ethos. We look forward to seeing the results of this season's work."

The Offering is subject to the acceptance of the TSX Venture Exchange, and securities issued in the Offering will be subject to a 4-month hold period.

In addition, further to the Company's news release of May 10, 2021, Crescat has waived certain rights it had with respect to the allocation and use of proceeds at the Iron Point project pursuant to the Agreement.

About Ethos Gold Corp.

Ethos Gold, a Discovery Group company, has accumulated a portfolio of district scale projects in British Columbia, Ontario, Quebec, and Newfoundland that we believe have large scale discovery potential. The Company has a strong technical team led by Dr. Rob Carpenter, formerly the CEO of Kaminak Gold Corporation. Rob led the Kaminak team from initial listing in 2005 through acquisition and discovery of the multiple-million-ounce Coffee Gold Project. In Ethos, he has assembled a senior geologic team with a strong record of discovery success including Dr. Robert Brozdowski, P.Geo., Dan MacNeil, M.Sc., P. Geo, Dr. Alan Wainwright, P.Geo, and Dr. Quinton Hennigh, an economic geologist with 25 years of exploration experience formerly with Homestake Mining Company, Newcrest Mining and Newmont Mining Corp. With working capital of approximately C$10 million, the Company is well funded to advance its projects.

Ethos Gold Corp.
Per: "Alex Heath"
Alex Heath, CFA, President

For further information about Ethos Gold Corp. or this news release, please visit our website at ethosgold.com or contact Alex Heath at 604-354-2491 or by email at .

Ethos Gold Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca

Forward-Looking Statement Cautions:

This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including, but not limited to, statements regarding the Company's plans with respect to the Company's projects and the timing related thereto, the merits of the Company's projects, the Company's objectives, plans and strategies, the Offering and the expected use of proceeds thereof, and other project opportunities. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective,", "strategy", "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other agency or governmental clearances, necessary to carry out the Company's exploration plans, risks and uncertainties related to the COVID-19 pandemic, risks and uncertainties related to the Company's ability to complete the Offering and the size of the Offering, and the risk of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83740

Ethos Gold Corp.

Sign up to stay in touch

Please sign up in order to stay informed on our progress.

What to expect: If you wish to withdraw your consent and stop hearing from us, simply click here or the unsubscribe link at the bottom of every email we send or contact us at . We value and respect your personal data and privacy. To view our privacy policy, please visit our website. By submitting this form, you agree that we may process your information in accordance with these terms.