Each Unit is comprised of one common share of the Company (each, a 'Unit Share') and one half of one common share purchase warrant (each whole warrant, a 'Warrant'). Each Warrant entitles the holder thereof to acquire one common share of the Company (each, a 'Warrant Share') at a price of
The net proceeds from the Offering will be used to fund the Company's 2023 exploration program and for general working capital purposes. The Company will provide additional information regarding closing of a second tranche once available. The closing of the Offering is subject to receipt of all necessary regulatory approvals, including the approval of the
Additionally, the TSXV has consented to the extension of the closing deadline for the Offering pursuant to the policies of the TSXV until
In the First Tranche,
This news release does not constitute an offer of securities for sale in
All $ amounts herein are in Canadian dollars unless otherwise noted.
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FORWARD-LOOKING STATEMENTS
This news release contains 'forward-looking statements' within the meaning of Canadian securities legislation. These include, without limitation, statements with respect to the receipt of regulatory approvals, including the approval of the TSXV, closing of the Offering and statements with respect to the use of proceeds from the Offering, the closing of a second tranche of the Offering and the 2023 exploration program of the Company. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to the TSXV may refuse to grant final approval of the Offering; the Company may reallocate the proceeds of the Offering for reasons that management believes are in the Company's best interests; the Company may not have additional subscribers to the Offering in respect of a second tranche; the Company may choose to defer, accelerate or abandon its exploration plans; general business, economic and regulatory risks; capital and operating costs varying significantly from management estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; inflation; fluctuations in commodity prices; delays in the development of projects and the other risks involved in the mineral exploration and development industry generally. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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