/Not a distribution destination America For newswire service or distribution. US./
vancouver british columbia, March 13, 2024 /CNW/ – Kootenay Resources Inc. (the “Company” or “Kootenay”) has received conditional Toronto Stock Exchange Venture (“TSXV”) listing approval, subject to the financing and meeting the minimum listing requirements, and the acquisition of shares and special warrants to complete the listing requirements. announced that it is conducting a private placement of rights.
Upon receipt of our final listing on the TSXV, our shares will begin trading on the TSXV with a minimum capital requirement. $482,000 To be nurtured. Certain funds from special warrants relating to non-Canadian investors will be held in escrow until we have raised the required minimum funds. $482,000 Obtained listing approval in Canada.
This private placement will consist of non-flow-through common stock and flow-through common stock, with total proceeds of $500,000.The financing will consist of a combination of shares and special stock acquisition rights, and the price will be $0.10 The price of each flow-through share is $0.15 per share.
Proceeds received from the Private Placement will be used to develop the Company's Moyet Anticline Project, the early-stage Nechako portfolio of gold and silver exploration projects, and other resource assets (subject to “Canadian Exploration Expenses,” which are flow-through mining expenditures). ). For more information about these projects, please visit the Kootenay Resources website.
Securities issued through private placements are offered through private placements in each state. Canada,other than quebecand other jurisdictions in which we serve, in each case pursuant to applicable exemptions from prospectus requirements under applicable securities laws.
In connection with the Private Placement, the arm's length transaction will receive a cash fee equal to 6.0% of gross proceeds to Subscribers.
The holding period for the shares issued pursuant to this offering will be four months and one day after the closing of the transaction. The securities mentioned herein 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 are not subject to such provisions. may not be solicited or sold on the basis of US except in accordance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to an exemption therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction.
Qualified person
Kootenay's technical information contained in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 (Disclosure Standards for Mineral Projects) and has been reviewed and approved by Kootenay on behalf of Kootenay . james mcdonaldP.Geo, President, CEO and Director of Kootenay, Inc., is a Qualified Person.
About Kootenay Resources
KSR is an exploration company active in mineral exploration and discovery projects. british columbia, canada. The Company was established as a spin-out of Kootenay Silver Inc. (TSXV: KTN) with future assets in Canada transferred to his Kootenay Resources Inc. The transaction he completed in 2016. October 2021Kootenay Silver Inc. currently owns approximately 5.4 million shares of Kootenay Resources Inc. common stock.
The Moye anticline region of the Purcell Basin has long been considered a potential site for base metal deposits similar in style to the world-famous Sullivan deposit. Kimberley, British Columbia. In the fall of 2021, Kootenay commissioned a survey consisting of 86 of his MT stations distributed throughout the Moye Anticline project area. In 2023, Kootenay added an additional 47 MT stations across the project. His subsequent 3D inversions on the combined dataset will help direct follow-up geophysical and surface campaigns in advance of highly selective drilling programs targeting the highest priority anomalies. Helpful.
In addition to the Moye Anticline project, Kootenay Resources is pursuing several early-stage gold and silver targets in the central Nechako region. british columbia. Currently, two of his properties in his portfolio of six projects in the Kootenays are optioned and being considered by his Thompson River Metals Company, a wholly owned subsidiary of Centerra Gold Inc.
On behalf of the Board of Directors, company:
james mcdonald,
director
Regulatory Services Provider is not responsible for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements:
The information in this news release has been prepared as follows. March 12, 2024. Certain statements in this news release (referred to herein as “forward-looking statements”) constitute “forward-looking statements” within the meaning of Canadian provincial securities laws. These statements can be identified by the use of words such as “anticipated,” “may,” “will” or similar terminology.
Forward-looking statements, while necessarily believed to be reasonable by Kootenay as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. is based on numerous factors and assumptions that are influenced by the circumstances of the event. Many factors, known and unknown, could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. These statements speak only as of the date on which they are made. Unless otherwise required by law, Kootenay will publish updates or amendments to any such statement to reflect changes in Kootenay's expectations or changes in events, conditions or circumstances on which such statement is based. We expressly disclaim any obligation or undertaking. . More specifically, this news release contains statements regarding the anticipated private placement. Accordingly, the private placement sale may not be completed within the expected period or at all.
SOURCE Kootenay Resources Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2024/13/c0756.html
