A total of 9,770,750 units were issued, for proceeds of
A finder's fee was paid in connection with the Offering to finders that include
Proceeds from the Units will be used for exploration and working capital purposes and the proceeds of the FT Units and Special FT Units will be used for exploration expenditures that qualify as Canadian Critical Metals Exploration Expenses.
Certain officers and directors of the Company participated in the private placement, which constitutes a 'related party transaction' for purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ('MI 61-101'). Such participation is exempt from the valuation and minority approval requirements of MI 61-101 by virtue of the fact that the Company is not listed on a specified market set out in section 5.5(b) of MI 61-101 and the value of Units subscribed for by such officers and directors is less than
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Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release constitutes 'forward-looking information' within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as 'plans', 'proposes', 'estimates', 'intends', 'expects', 'believes', 'may', 'will' and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
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