The Units shall consist of one common share of the Company and one common share purchase warrant (a 'Warrant'). Insiders participating in the placement shall receive 1/2 warrant as part of the units purchased. Each Full Warrant entitles the holder to purchase one common share of the Company at a price of
Proceeds from the Offering will be used for general working capital purposes.
The Company further announces that it has entered into shares-for-debt settlement agreements to settle an aggregate
The issuance of the offering and the Debt Shares will constitute a 'related party transaction' within the meaning of the TSX-V Policy 5.9 (the ' Policy ') and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (' MI 61-101 ') adopted in the Policy. The Company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61-101) of the Debt Shares, nor the Debt, exceeds 25% of the Company's market capitalization (as determined under MI 61-101).
The Offering and the Debt Settlement is subject to the final acceptance of the
Shine notes that the previously announced placement on
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in
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Cautionary Statement Regarding Forward Looking Information
This news release contains 'forward-looking information or statements' within the meaning of applicable securities laws, which may include, without limitation, statements that address the Company's plans for its properties/projects, the closing of the debt settlement, other statements relating to the technical, financial and business prospects of the Company, and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.
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