The Offering was conducted by
Each of the directors and executive officers of the Company have agreed with the Underwriters that the Common Shares and any securities convertible into or exchangeable for Common Shares held by each of them will be subject to a 90-day lock-up period, subject to customary exceptions.
The Offering was completed pursuant to a short form prospectus dated
The net proceeds from the Offering will be used by the Company to fund ongoing work, development and permitting activities at its FAD Property in
The securities offered in the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in
Option Grant
As part of its annual compensation review, the Board has approved the grant, to officers and directors of the Company, of an aggregate of 775,000 options to acquire common shares ('Options') pursuant to its stock option plan. Each Option is exercisable for a period of five years at an exercise price equal to the closing price of the Common Shares on
About Paycore
Paycore is a corporation incorporated under the Business Corporations Act (
Overseen by an experienced board and management team that includes
Contact:
President, CEO, Director
Telephone: 416-712-6151
Email: christina.mccarthy@paycoreinc.com
Website: www.paycoreinc.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS SUCH TERM IS DEFINED IN THE POLICIES OF THE
Cautionary Statements
This news release contains forward-looking statements and forward-looking information (collectively, 'forward-looking statements') within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as 'may', 'should', 'anticipate', 'will', 'estimates', 'believes', 'intends' 'expects' and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning (i) the Offering and the use of proceeds therefrom; (ii) the proposed business objectives of the Company, (iii) the impact, and anticipated results, of ongoing drill program and results on the Company, (iv) the possible economics of the FAD Property, and the Company's understanding of the FAD Property, (v) the development potential and timetable of the FAD Property, (vi) the estimation of potential mineral resources, and (vii) the timing and amount of estimated future exploration on the FAD Property. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company and the FAD Property. Specifically, factors that could cause the actual performance and results of the Company to differ materially from those in forward-looking statements include, without limitation, changes to commodity prices, metallurgical recovery, operating and capital costs, foreign exchange rates, ability to obtain required permits on a timely basis, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
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