Gold Standard Announces C$16.2 Million Strategic Investment by OceanaGold Corporation
VANCOUVER, BRITISH COLUMBIA--(May 11, 2015) - Gold Standard Ventures Corp. (TSX VENTURE:GSV)(NYSE MKT:GSV) ("Gold Standard" or the "Company") is pleased to announce that is has entered into a subscription agreement pursuant to which a wholly owned subsidiary of OceanaGold Corporation. (OGC.TO)(OGC.AX)(OGC.NZ) ("OceanaGold") has agreed to purchase, in a private placement, 24,997,661 common shares (the "Common Share") of the Company at a price of C$0.65 per Common Share for gross proceeds of C$16,248,480 (the "Financing").
The Financing is expected to close on or around May 20, 2015. At closing, it is anticipated that OceanaGold will own approximately 14.9% of the Company's issued and outstanding shares on an undiluted basis. The net proceeds of the Financing will be used to further advance the Company's Railroad-Pinion project and for general corporate and working capital purposes.
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Published: 11 May 2015
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Written by Editor
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Read more: Gold Standard Ventures Corp ( GSV )