GoldHaven Resources Completes Private Placement
GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) has successfully concluded a non-brokered private placement, issuing 9,500,000 units at a price of $0.05 per unit. This strategic move raised gross proceeds of $475,000. Each unit consists of a common share and a warrant, with warrants allowing for the purchase of additional shares over the next 24 months at $0.10 per share.
Related Party Transactions and Compliance
In this transaction, several of the Company’s directors and officers participated in purchasing units. This actions fall under the category of related party transactions as per Multilateral Instrument 61-101, allowing the company to exempt itself from certain valuation and shareholder approval obligations since the value of the issued units is under 25% of GoldHaven's market capitalization.
Planned Use of Funds
The proceeds from this private placement are earmarked for various purposes, including exploration activities, operational expenses, and enhancing working capital. This financial strategy reflects GoldHaven's commitment to advancing its exploration projects and ensuring sustainability in operations.
Annual General Meeting Materials During Postal Disruption
As of mid-November, Canada Post services ceased due to the labor action by the Canadian Union of Postal Workers. This disruption led the Canadian Securities Administrators (CSA) to issue Blanket Order 51-931. This order allows GoldHaven to temporarily bypass certain requirements related to the delivery of proxy-related materials for its upcoming annual general meeting.
Upcoming Annual General Meeting Details
The Company’s annual general meeting is scheduled for December 27, 2024, at its corporate office. Shareholders are encouraged to review annual financial statements and partake in votes concerning the Board of Directors and auditor appointments, among other key matters.
Accessing Meeting Materials
Due to the ongoing postal strike, all shareholders are prompted to access the meeting notice, accompanying materials, and proxy voting options through the Company's website or SEDAR+. The cut-off for submitting proxy forms is December 23, 2024, ensuring every voice is heard despite the postal challenges.
Recent Leadership Changes
In a recent shift within the company, Marla Ritchie stepped down as Corporate Secretary. The Board has appointed Sead Hamzagic, who also serves as the Chief Financial Officer, to take over this role. The Board expresses appreciation for Marla's contributions and wishes her the best.
About GoldHaven Resources Corp.
GoldHaven Resources Corp. is a Canadian junior exploration firm focusing on acquiring promising land packages across North America. Their flagship project, the Magno Project, is known for its polymetallic properties located near the historic Cassiar mining area. Additionally, the Three Guardsman Project has shown significant prospects for copper and gold mineralization.
For more information, please contact:
Bonn Smith, CEO
Phone: (604) 629-8254
Email: bsmith@goldhavenresources.com
Website: www.GoldHavenresources.com
Frequently Asked Questions
What is the recent financial move by GoldHaven Resources?
GoldHaven Resources has closed a private placement raising $475,000 by issuing 9.5 million units.
Who participated in the private placement?
Certain directors and officers of the Company purchased units during the private placement, classifying it as a related party transaction.
What are the funds from the private placement used for?
The net proceeds will support exploration expenditures, administrative costs, and general working capital.
How are shareholders affected by the postal strike?
The ongoing postal strike has prompted the CSA to allow GoldHaven to temporarily exempt itself from certain requirements regarding proxy material distribution.
When is GoldHaven's annual general meeting scheduled?
The annual general meeting is set for December 27, 2024, with a voting deadline for proxies on December 23, 2024.
