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Clarity Gold Closes $3.8 Million Flow-Through Non-Brokered Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, March 05, 2021 (GLOBE NEWSWIRE) -- Clarity Gold Corp. (a??Claritya?? or the a??Companya??) (CSE: CLAR, OTC: CLGCF, FSE: 27G) announces that it has closed its previously announced non-brokered private placement, pursuant to which it has issued 2,054,405 common shares in the capital of the Company (each, a a??Sharea??) issued on a a??flow-througha?? basis pursuant to the Income Tax Act (Canada) and to the Taxation Act (QuA©bec) at a price of $1.85 per Share for gross proceeds of $3,800,649.25 (theA a??Offeringa??).
a??Having also recently completed a hard dollar financing of approximately $4.5 million, Clarity is now fully funded to carry out its next objectives as we get ready to commence drilling on the Destiny Project,a?? said James Rogers, CEO of Clarity. a??We are very pleased with the reception of this financing, and look forward to getting our first drill program underway with a strong treasury.a??The Company intends to use the proceeds from the Offering for exploration expenditures in connection with the Companya??s Destiny Project.All securities issued under the Offering are subject to a statutory hold period expiring four months and one day from the date of closing of the Offering. The Company paid cash findera??s fees of $266,045.45 and issued an aggregate of 143,808 findera??s share purchase warrants (each, a a??Findera??s Warranta??) to certain finders in connection with the Offering, with each Findera??s Warrant entitling the holder to acquire one Share (each, a a??Findera??s Warrant Sharea??) on a non a??flow-througha?? basis at a price of $1.85 per Findera??s Warrant until March 5, 2022, subject to any additional terms contained in the findera??s warrant certificate.
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