“We are excited to be starting the next phase of exploration on the Mitchi project. The Sherlock zone infill drilling was very successful, and we are now waiting for assays. Once all the assays received, we will start working on the maiden resource estimate with the ultimate goal of producing a Preliminary Economic Assessment for the Mitchi-Wabash copper-silver district using the hub and spokes model. All these results will guide both our exploration activities for the next 12 months and as well the development activities for the coming years. With these exciting milestones just ahead of us, I would like to wish happy holidays and a happy and successful New Year to all our shareholder, our partners and all the stakeholders,” commented
Certain officers and directors of the Corporation have participated in this Private Placement for a total of 262,500 Units distributed pursuant to the Offering (the “Insiders’ Participation”). The Insiders’ Participation is exempt from the formal valuation and shareholder approval requirements provided under Regulation 61-101 respecting Protection of Minority Holders in Special Transactions (“Regulation 61-101”) in accordance with sections 5.5(a) and 5.7(a) of said Regulation 61-101. The exemption is based on the fact that the market value of the Insiders’ Participation or the consideration paid by such insiders does not exceed 25% of the market value of the Company. The Company did not file a material change report at least 21 days prior to the completion of the private placement since the Insiders’ Participation was not determined at that moment.
The Corporation will use the proceeds of the Offering for advancing exploration on the Mitchi project, Sherlock zone and on regional targets.
The shares acquired by the subscribers are subject to a hold period of four months plus one day from the closing date, ending on
In connection with this Offering, the Corporation has paid a cash finder’s fee in an amount of
About
Kintavar supports local development in the Mitchi-Wabash region where it owns and operates the Fer à Cheval outfitter (www.feracheval.ca), a profitable and cashflow generating operation where it employs local workforce. It as well works with local First Nations to provide training and employment.
For further information contact:
Phone: +1 450 641 5119 #5653
Email: kmugerman@kintavar.com
Web: www.kintavar.com
Forward looking Statements:
Neither
This news release contains statements that may constitute “forward-looking information” or “forward looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including additional closings of the private placement referred to above, or if any of them do so, what benefits the Corporation will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s management’s discussion and analysis for the fiscal year ended
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