Vancouver, BC – Goldplay Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce that the Company will undertake a private placement of up to 6,818,182 units (the “Units”) at a price of CDN$0.22 per Unit for gross proceeds of up to CDN$1,500,000. Each Unit shall be comprised of one common share in the capital of the Company (each, a “Share”) and one-half (½) of one common share purchase warrant of the Company (each whole warrant, a “Warrant”), with each Warrant being exercisable into one common share (the “Warrant Shares”) for a period of two years from the date of issuance of the Warrants at an exercise price of $0.25/Warrant Share; except that, from and after the date that is four months and 1 day after the date of issuance of the Warrants, in the event the closing price of the Company’s common shares on the TSX Venture Exchange (the “TSX.V”) is at least $0.65/share for any 10 consecutive trading days during the Warrant exercise period, then the Company may anytime thereafter accelerate the expiry date of the Warrants to the date that is 10 days following the date on which the Company issues notice to all the Warrant holders of the new expiry date (and the Company will also issue a press release on the same date as it issues notice confirming the new expiry date of the Warrants).The proceeds of the private placement will be used for exploration and property taxes on the Company’s properties in Mexico and general and administration costs for its operations in Mexico and Canada.
The Company may pay finders’ fees comprised of cash and/or warrants in connection with the private placement, subject to compliance with the policies of the TSX.V. Completion of the private placement and the payment of any finders’ fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX.V.