VANCOUVER, British Columbia, July 21, 2020 (GLOBE NEWSWIRE) — George Sanders, President of Goldcliff Resource Corporation (“Goldcliff” or the “Company”) (GCN: TSX.V, GCFFF: OTCBB PINKS) reports that the Company has arranged a Non-Brokered Private Placement of 3,500,000 Units at a price of $0.08 per Unit for gross proceeds of $280,000. Each Unit will consist of one common share and one half common share purchase warrant. Each whole warrant will entitle the holder to purchase an additional common share at a price of $0.10 per share for a period of two years from the date of closing. The placement is fully subscribed by insiders. The transaction with insiders constitutes a “related party transaction” in the context of Multilateral Instrument 61-101, and the Company intends to rely on exemptions in such Instrument with respect to minority shareholder approval and a formal valuation. Proceeds of the private placement will be applied to asset acquisition due diligence, additional claim staking, and to working capital.
The placement will subject to standard resale restrictions and acceptance by the TSX Venture Exchange.For further information, please contact George W. Sanders, President, at 250-764-8879, toll free at 1-866-769-4802 or email at info@directroyalty.com.GOLDCLIFF RESOURCE CORPORATIONPer: “George W. Sanders”George W. Sanders, PresidentNeither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or the accuracy of this news release.
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