Scottie Resources Announces $2 Million Private Placement Financing
30 Avril 2020 - 3:00PM
Scottie Resources Corp. (“
Scottie” or the
“
Company”) (TSXV: SCOT), is pleased to announce a
non-brokered private placement offering of up to 8,333,333
flow-through common shares (the “
FT Shares”) at a
price of $0.24 per FT Share, for gross proceeds of up to $2,000,000
(the “
Offering”).
The proceeds raised by the Company from the sale
of the FT Shares will be used to incur eligible "Canadian
exploration expenses" that are "flow-through mining expenditures"
(as such terms are defined in the Income Tax
Act (Canada)), related to exploration of the Company's mineral
properties, located in the Golden Triangle region of British
Columbia.
In connection with the Offering, the Company may
pay finders' fees (the “Finders’ Fees”) to
eligible finders in cash equal to 6% of the gross proceeds of the
FT Shares placed by each eligible finder, and broker warrants equal
to 6% of the FT Shares placed pursuant to the Offering (each a
“Broker Warrant”). Each Broker Warrant will be
exercisable for a period of two years from the date of
issuance.
The FT Shares and Broker Warrants to be issued
under the Offering will be subject to a four month hold period from
the date of issuance, in accordance with applicable securities
laws.
The closing of the Offering is subject to
certain conditions including, but not limited to, the receipt of
all necessary approvals, including the approval of the TSX Venture
Exchange.
This news release does not constitute an offer
to sell or a solicitation of an offer to sell any of the securities
in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”) or any state
securities laws and may not be offered or sold within the United
States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
ABOUT SCOTTIE RESOURCES
CORP.
Scottie owns a 100% interest in the high-grade,
past-producing Scottie Gold Mine and Bow properties and has the
option to purchase a 100% interest in Summit Lake claims which are
contiguous with the Scottie Gold Mine property. Scottie also owns
100% interest in the Cambria Project properties and the Sulu
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 http://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
policies of TSX Venture Exchange) accepts responsibility for the
adequacy of accuracy of this release.
Scottie Resources (TSXV:SCOT)
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