HighGold Mining Announces Completion of $ 18.8 Million Fund Raising from Concurrent Takeover Offer and Private Placement


Vancouver, British Columbia – (COMMERCIAL THREAD) –HighGold Mining Inc. (TSX-V: HIGH) (“High gold“or the”Society“) is pleased to announce that, following its press release of October 18, 2021, it has closed its previously announced increased takeover offer (the” Offer “) of 8,625,000 ordinary shares (the” Shares offered ”) at a price of $ 1.60 per offered share for total gross proceeds of $ 13,800,000, which included the full exercise of the over-allotment option granted to the underwriters (as defined herein).

Concurrent with the placement, the Company also completed a non-middleman private placement (the “Concurrent Private Placement”) for 3,125,000 additional common shares of the Company at a price of $ 1.60 per share for total gross proceeds of $ 5,000,000. The concurrent private placement was completed with an existing strategic investor of the Company, a leading gold producer, to increase the investor’s ownership interest in the Company to 9.9%. Total combined gross product of $ 18,800,000 were raised in connection with the placement and the simultaneous private placement.

“With the closing of the financing, HighGold has $ 27 million in working capital, putting us in a very strong position to materially advance the Johnson Tract high-grade gold project in Alaska, ”commented President and CEO Darwin Green. “We thank new and existing shareholders for your support and look forward to leveraging these funds to unlock the multi-deposit mining potential of the project. ”

The offering was qualified by means of a prospectus supplement dated October 20, 2021 (the “prospectus supplement”) to the Company’s existing short form base shelf prospectus dated October 1, 2021 (the “base shelf prospectus”) . The prospectus supplement has been filed in British Columbia, Alberta and Ontario and, together with the related base shelf prospectus, is available on SEDAR at www.sedar.com. The offering was made through a syndicate of underwriters led by Cormark Securities Inc., as lead manager and sole bookrunner, together with Stifel Nicolaus Canada Inc., Scotia Capital Inc. and Haywood Securities. Inc. (collectively, the “Underwriters”). The Company paid the Underwriters a cash commission equal to 5% of the gross proceeds realized by the Company on the Offering. No commission was paid on the Concurrent Private Placement.

The Company intends to use the net proceeds of the Offering and the Concurrent Private Placement for exploration and development initiatives in connection with the Company’s Johnson Tract Project and for working capital and general corporate purposes. ‘business. The shares issued under the simultaneous private placement are subject to a holding period of four months and one day. The placement and the concurrent private placement remain subject to final approval by the TSX Venture Exchange.

This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of securities in any jurisdiction in which such an offer, solicitation or sale would be illegal prior to registration. or qualification under securities laws. of such jurisdiction. This press release does not constitute an offer to sell securities in the United States. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold in the United States absent registration under the United States federal and state securities laws or an applicable exemption from such United States registration requirements.

About HighGold

HighGold is a mining exploration company focused on high-grade gold projects located in North America. HighGold’s flagship asset is the high-grade Johnson Tract Gold (Zn-Cu) project located in accessible south-central Alaska, United States. The Company also controls a portfolio of quality gold projects in the large gold camp of Timmins, Ontario, Canada, which includes the Munro-Croesus Gold property, renowned for its high grade mineralization, and the large Golden Mile and Golden properties. Perimeter. HighGold’s experienced board and management team are committed to creating shareholder value through the discovery process, prudent capital allocation and environmentally and socially responsible mineral exploration.

On behalf of HighGold Mining Inc.

Darwin green

President and CEO

For more information, please visit the HighGold Mining Inc. website at www.highgoldmining.com.

Neither the TSX Venture Exchange nor its regulation services provider (like this term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: This press release includes certain “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”). Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, ” foresee ”,“ françaiseisée européenne française ”“ could ”occur or be achieved and other similar expressions and understands the negative aspects thereof. All statements other than statements of historical fact included in this press release, including, without limitation, statements regarding the intended use of the proceeds of the Offer and of the Concurrent Private Placement are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and that actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of important factors, risks and assumptions, including, but not limited to, those disclosed in the Prospectus Supplement, Base Shelf Prospectus and the documents incorporated therein. by reference. Material factors which could cause actual results to differ materially from the Company’s expectations appear from time to time in documents filed by the Company with securities regulatory authorities. Although the Company has attempted to identify material factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results differ significantly from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and, therefore, readers are cautioned not to place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

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