Leocor Gold Increases Private Placement Offering

VANCOUVER, BC – TheNewswire - June 17, 2021 - Leocor Gold Inc. (CNSX:LECR.CN) LECRF LGO ("Leocor" or the "Company"), a rapidly growing resource exploration & development company, is pleased to announce that it elected to increase the size of its previously announced private placement (the "Offering").  The Company will now offer up to 17,000,000 non-flow-through units (each, an "NFT Unit") at a price of $0.50 per NFT Unit, and up to 4,166,667 flow-through units (each, an "FT Unit") at a price of $0.60 for FT Unit, for combined gross proceeds of up to $11,000,000.

Each NFT Unit will consist of one common share of the Company and one transferable common share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder thereof to purchase one additional share at a price of $0.75 share for a period of twenty-four months.  Each FT Unit will consist of one flow-through common share and one Warrant.

The Offering will be conducted pursuant to available prospectus exemptions including sales to accredited investors, family members, close friends and business associates of directors and officers of the Company and to purchasers who have obtained suitability advice from a registered investment dealer pursuant to the exemption set out in British Columbia Instrument 45-536 (the "Investment Dealer Exemption").

The Offering is not subject to a minimum amount, and the maximum offering is 17,000,000 NFT Units and 4,166,667 FT Units for gross proceeds of $11,000,000.  The Company expects to use the proceeds from the Offering for further exploration and project development in Newfoundland, for marketing of the Company, as well as for general working capital purposes.  If the Offering is over-subscribed, subscriptions will be accepted at the discretion of the Company; therefore, it is possible that a subscriber's subscription may not be accepted by the Company even though it is received within the Offering period unless the Company determines to increase the size of the Offering.

All securities issued under the Offering will be subject to a four-month hold period from the closing date in accordance with applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.  The Offering is subject to certain conditions including, but not limited to, the receipt of all applicable regulatory approvals.  In connection with completion of the Offering, the Company may pay finders' fees to eligible third parties who assist in introducing subscribers.  As required by the Investment Dealer Exemption, the Company confirms that there are no material facts or material changes that have not been disclosed.

About Leocor Gold Inc.

Leocor Gold Inc. is a rapidly growing British Columbia based resource exploration & development company principally focused on strategic growth though the acquisition of overlooked, undervalued or unexplored precious metals projects principally in the province of Newfoundland, Canada. Leocor, through outright ownership and earn-in agreements, currently controls several gold-copper projects in prime exploration ground located within the prolific Baie Verte Mining District which includes the Dorset, Dorset Extension, Copper Creek and Five Mile Brook projects, creating a contiguous nearly 2,000-hectare exploration corridor.  The Company also controls the 6,847-ha grassroots Startrek project near Gander, as well as three district-scale land packages in North Central Newfoundland, known as the Western Exploit District consisting of the Robert's Arm, Hodge's Hill, and Leamington claim areas, representing over 144,000 hectares (1,440 square kilometers) of regional geologically favorable corridors conducive to gold mineralization. Find out more at: https://leocorgold.com/.

Contact Information

Leocor Gold Inc.

Alex Klenman, Chief Executive Officer

Email: aklenman@leocorgold.com  

Telephone: (604) 970-4330

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward-Looking Information

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the intended exploration and development of the Newfoundland-based gold projects as well the intended use of proceeds from the private placement. Although Leocor believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

Forward looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. Leocor cautions investors that any forward-looking information provided by Leocor is not a guarantee of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the results of preliminary exploration work; Leocor's ability to complete the private placement; the state of the financial markets for Leocor's securities; the state of the natural resources sector; recent market volatility; circumstances related to COVID-19; Leocor's ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that Leocor is unaware of at this time. The reader is referred to Leocor's initial public offering prospectus for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through Leocor's issuer page on SEDAR at www.sedar.com.

The forward-looking statements contained in this press release are made as of the date of this press release. Leocor disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by law.

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