(via TheNewswire)
Financing
The Corporation reports that it intends to conduct a non-brokered common share unit financing (the "Financing") consisting of up to 1,000,000 common share units (the “Units”) to be issued at a price of
Each Unit will consist of one common share of the Corporation and one common share purchase warrant (a “Warrant”) that entitles the holder of a Warrant, upon further payment to the Corporation, to acquire one additional common share of the Corporation (a "Warrant Share") at an exercise price of
The Corporation intends to use the proceeds of the Financing for working capital purposes and, if closed upon, for the purchase of mining claims set forth below.
The Corporation may pay a 6% cash finder’s fee on certain subscriptions under the Financing, if applicable.
Insiders (as that term is defined by securities laws) may participate for 25% or more of the Financing in effort to support the financial position of the Corporation.
The Financing is subject to all applicable regulatory approvals as well as a customary four-month hold period on securities issued, all as pursuant to applicable securities laws of
Corporate Update – Mining Claims
The Corporation reports that it intends to purchase two separate sets of mining claims which, if both are closed upon, have an aggregate purchase cost of
The Corporationintends to acquire 104 mining claims (totalling approximately 5,200 ha), pursuant to a purchase agreement with
The Corporationintends to acquire 2 mining claims (MC00017255 and MC00017256 totalling approximately 1,452 ha), pursuant to a purchase agreement with
About
On Behalf of the Board of Directors
Chairman & Chief Executive Officer
Email: info@79resources.com
Tel: 604.687.2038
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Canadian securities laws. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words "anticipate," "expect," "suggest," "plan," "believe," "intend,", “intention” "estimate," "target," "project," "should," "could," "would," "may," "will," "forecast" and other similar expressions are intended to identify forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties, including but not limited to the matters related to the Financing, such as the number of Units issued, if any, and the closing, if any, of the Financing, as well as the closing, if any, of the mining claims identified herein as the
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Copyright (c) 2024 TheNewswire - All rights reserved., source