GT GoldTrain Resources Inc.

GoldTrain Resources Inc. (CNSX:GT) ("GoldTrain") is pleased to announce that it
has successfully completed its previously announced non-brokered private
placement of 3,300,000 "flow-through" (within the meaning of the Income Tax Act
(Canada) (the ("ITA")) units at a price of $0.10 per unit (each a "Unit"), for
gross proceeds of $330,000 (the "Offering"). Each Unit is comprised of one
flow-through share (each a "Flow-Through Share") and one flow-through share
purchase warrant (each a "Warrant"), each Warrant entitling the holder to
purchase one non-flow-through common share for $0.12 at any time within 6 months
after the issuance of the Units, for $0.15 between 6 months and 12 months after
the issuance of the Units or, alternatively, for $0.20 at any time thereafter
until the expiry date, which is 2 years after the issuance of the Units.


The gross proceeds to GoldTrain from the sale of the Units will be used for
exploration work on GoldTrain's properties in Canada, such that an amount equal
to the gross proceeds of the Offering will be used to incur (and GoldTrain will
renounce in favour of the purchasers of the Units) expenses that will qualify as
one or more kinds of expenses described in the definition of "Canadian
exploration expense" in subsection 66.1(6) of the ITA) (other than expenses
which constitute "Canadian exploration and development overhead expenses" or
"specific expenses for seismic data" for the purposes of the ITA).


GoldTrain paid a finder's fees of 8% of the proceeds of the Offering in cash
and/or common shares and 10% in finder's warrants (each finder's warrant
entitling the holder to purchase one unit comprised of one non-flow-through
common share and one Warrant at any time within 2 years after issuance) to
various investment dealers or other persons permitted to receive same under
applicable securities laws.


All of the securities issued pursuant to this Offering are subject to a four (4)
month hold period.


MineralFields Group, a substantial investor in the Offering, purchased 2,500,000
Units. "We are very pleased to be entering into this relationship with
MineralFields Group", said Brian Wright, President and Chief Executive Officer
of GoldTrain. "This is an important milestone in the growth of GoldTrain and we
look forward to working with MineralFields Group as we develop our mineral
property holdings in Canada."


About MineralFields, Pathway and First Canadian Securities (R)

MineralFields Group (a division of Pathway Asset Management), based in Toronto,
Vancouver, Montreal and Calgary, is a mining fund with significant assets under
administration that offers its tax-advantaged super flow-through limited
partnerships to investors throughout Canada as well as hard-dollar resource
limited partnerships to investors throughout the world. Pathway Asset Management
also specializes in the manufacturing and distribution of structured products
and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class
mutual fund series). Information about MineralFields Group is available at
www.mineralfields.com. First Canadian Securities (R) is active in leading
resource financings (both flow-through and hard dollar PIPE financings) on
competitive, effective and service-friendly terms, and offers investment
banking, mergers and acquisitions, and mining industry consulting, services to
resource companies. MineralFields and Pathway have financed several hundred
mining and oil and gas exploration companies to date through First Canadian
Securities (R).


For further information please contact Brian Wright, President, GoldTrain
Resources Inc., by phone at (705) 967-0216, by e-mail at
brian.wright@goldtrainresources.com or by mail to Suite 1801-180 Dundas Street
West, Toronto, Ontario M5G 1Z8.


This press release shall not constitute an offer to sell or solicitation of an
offer to buy securities in any jurisdiction. The Flow-Through Shares and the
Warrants comprising the Units, or any shares issuable upon the exercise of the
Warrants and finder's warrants, will not be and have not been registered under
the United States Securities Act of 1933 and may not be offered or sold in the
United States absent an applicable exemption from the registration requirements.


This press release contains or refers to forward-looking information. All
information other than statements of historical fact that address activities,
events or developments that GoldTrain believes, expects or anticipates will or
may occur in the future are forward-looking statements, including statements
regarding the expected use of proceeds from the Offering. These forward-looking
statements are subject to a variety of risks and uncertainties beyond
GoldTrain's ability to control or predict that may cause actual events or
results to differ materially from those discussed in such forward-looking
statements. Any forward-looking statement speaks only as of the date on which it
is made and, except as may be required by applicable securities laws, GoldTrain
disclaims any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or otherwise.
Although GoldTrain believes that the assumptions inherent in the forward-looking
statements are reasonable, forward-looking statements are not guarantees of
future performance and accordingly undue reliance should not be placed on these
forward-looking statements due to the inherent uncertainty therein.

GoldTrain Resources Inc. (CSE:GT)
Historical Stock Chart
From May 2024 to Jun 2024

GoldTrain Resources Inc. (CSE:GT)
Historical Stock Chart
From Jun 2023 to Jun 2024