Golden Cross Resources plans C$3M private placement for Australia project

Golden Cross Resources (TSXV: AUX) announced a non-brokered private placement to raise up to C$3 million in gross proceeds.

The offering consists of units priced at C$0.17 each. Each unit includes one common share and one half of a common share purchase warrant. The warrants allow holders to purchase additional shares at C$0.30 per share for two years following the offering's closing.

The company plans to use proceeds for exploration drilling and development of its Reedy Creek gold project in Victoria, Australia. Golden Cross may pay finder's fees to parties who assist in introducing subscribers to the offering.

The offering requires regulatory approvals, including approval from the TSX Venture Exchange. Securities issued will be subject to a four-month and one-day hold period under Canadian securities laws from the closing date.

Company management may participate in the offering, including related party subscriptions as defined under Multilateral Instrument 61-101. This participation is exempt from formal valuation and minority shareholder approval requirements under sections 5.5(c) and 5.7(1)(a) of MI 61-101.

The securities will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption.

Golden Cross Resources is a Canadian mineral exploration company focused on the Reedy Creek gold project, located 10 kilometers from Southern Cross Gold's Sunday Creek discovery in Victoria, Australia.

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