Scottie Resources Announces Private Placement Financing
11 Septembre 2019 - 2:30PM
Scottie Resources Corp. (“Scottie” or the “Company”) (TSXV: SCOT)
announced today a non-brokered private placement of flow-through
common shares (the “FT Shares”) and non-flow-through units (the
“NFT Units”) for gross proceeds of up to $1,750,000 (the
“Offering”).
Up to 3,409,091 FT Shares will be sold at a
price of $0.22 per FT Share, and up to 6,666,667 NFT Units will be
sold at a price of $0.15 per NFT Unit consisting of one common
share and one common share purchase warrant. One common share
purchase warrant from the NFT Units will entitle the holder to
purchase one non flow-through common share of the Company at a
price of $0.22 for a period expiring 24 months following the
closing date of the Offering. If the closing price of the Issuer’s
common shares is at a price equal to or greater than $0.29 for a
period of 10 consecutive trading days, the Issuer will have the
right to accelerate the expiry date of the warrants by giving
written notice to the holders of the warrants that the warrants
will expire on the date that is not less than 30 days from the date
notice is provided by the Issuer to the warrant holders.
All the securities issuable will be subject to a
four-month hold period from the date of closing.
The proceeds from the sale of FT Shares will be
used for exploration programs on the Company’s British Columbia
properties, and the proceeds from the sale of NFT Units will be
used for general working capital.
ABOUT SCOTTIE RESOURCES CORP.
Scottie owns a 100% interest in the high grade,
past-producing Scottie Gold Mine property and has the option to
purchase a 100% interest in the Bow property which is contiguous
with the Scottie Gold Mine property. Scottie owns 100%
interests in the Ruby Silver and Black Hills properties and has the
option to purchase a 100% interest in the Bitter Creek property
which joins the Ruby Silver property with the Black Hills
property.
All of the Company’s properties are located in
the area known as the Golden Triangle of British Columbia which is
among the world’s most prolific mineralized districts.
Further information on Scottie can be found on
the Company’s website at www.scottieresources.com and at
www.sedar.com, or by contacting Bradley Rourke, President and CEO
at (250) 877-9902.
ON BEHALF OF THE BOARD OF DIRECTORS
“Bradley Rourke”
President & CEO
FORWARD LOOKING STATEMENTS
This news release may contain forward‐looking
statements. Forward looking statements are statements that are not
historical facts and are generally, but not always, identified by
the words “expects”, “plans”, “anticipates”, “believes”, “intends”,
“estimates”, “projects”, “potential” and similar expressions, or
that events or conditions “will”, “would”, “may”, “could” or
“should” occur. 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 forward looking statements. Forward‐looking statements are
based on the beliefs, estimates and opinions of the Company’s
management on the date such statements were made. The Company
expressly disclaims any intention or obligation to update or revise
any forward‐looking statements whether as a result of new
information, future events or otherwise.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
release).
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