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Warrior Gold Announces $500,000 Offering

Sep 24, 2022

TORONTO--( BUSINESS WIRE )-- 

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Warrior Gold Inc. (TSX-V - WAR) (“Warrior Gold” or the “Company”) is pleased to announce a non-brokered private placement to raise up to $500,000 through the issuance of a combination of common share units (the “Units”) and flow-through share units (the “FT Units”) of the Company at a price of $0.05 per Unit and $0.07 per FT Unit (the “Offering”). Each Unit will comprise one common share and one-half common share purchase warrant (each whole common share purchase warrant, a “Warrant”), and in the case of the FT Units, one flow-through share, and a Warrant (as defined above). Each Warrant will entitle the holder to purchase one additional common share in the capital of the Company for a period of 12 months from the date of closing of the Offering, at a purchase price of $0.10 per common share, provided, however, that, if, at any time following the statutory four month hold period, the closing price of the common shares of the Company on the TSX Venture Exchange is greater than $0.20 for 20 or more consecutive trading days, the Warrants will be accelerated and will expire on the 30th business day following the date of such notice.

The Company may pay finders’ fees on a portion of the Offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange. All securities issued under the Offering will be subject to a four month and one day “hold period” under applicable Canadian securities legislation.

The Offering is subject to approval of the TSX Venture Exchange.

The proceeds from the sale of the Units will be utilized by the Company for working capital and general corporate purposes and the proceeds from the sale of the FT Units and Charity FT Units will be used by the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" as such terms are defined in the Income Tax Act (Canada) related to the Company's properties located in Kirkland Lake, Ontario.

About Warrior Gold Inc.

Warrior Gold is a TSX Venture Exchange-listed company that has consolidated a significant and prospective land package in the Kirkland Lake Gold Camp in Ontario, Canada. The properties are hosted in the Abitibi Greenstone Belt, one of the world’s best-endowed greenstone belts with +200 million ounces of gold produced to date1. The properties are host to regional and property-scale mineralized structures that are considered to be second order structures off the Larder Lake Cadillac Deformation Zone – LLCDZ – the regional structure in the belt known to be spatially associated with the gold mines hosted in the camp.

​The properties assembled include: the 100%-owned Goodfish-Kirana, the Arnold property and the recently optioned KL West (KLW) and KL Central (KLC). Warrior Gold’s land position in the Kirkland Lake Gold Camp comprises approximately 21,469 ha, over 480 claims and 29 patented claims and ranks the company as one of the largest landholders in the Kirkland Lake region.

​Neither the TSX Venture Exchange nor its Regulation Services Provider (as that 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 contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", “anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by the Company. Although Warrior Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Warrior Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Company’s Management Discussion and Analysis of the financial condition and results of operations for the year ended March 31, 2021 and the third quarter ended December 31, 2021 which are available at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Warrior Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

1 https://mmsd.nrcan-rncan.gc.ca/PDF/MIS2020TableG01a-en.pdf


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