Toronto, Ontario–(August 23, 2024) – A mining exploration company based in Toronto is pleased to announce its intention to conduct a non-brokered private placement of units for gross proceeds of up to $130,750. The issuance of 8,716,667 units priced at $0.015 each will comprise one common share and one half of one common share purchase warrant. Each whole warrant can be exercised to purchase one common share of the company within 24 months at a price of $0.05. The common shares and warrants will be subject to a four-month hold period.
The net proceeds from the offering will be allocated towards working capital and other general corporate purposes. The closing of the offering is subject to approval from the Canadian Securities Exchange and compliance with relevant corporate and securities laws. The completion of the offering is expected to occur on or before August 29, 2025.
One of the company’s directors intends to purchase 1.25 million units, making this a “related party transaction.” The securities to be issued under the offering have not been registered under the U.S. Securities Act and may not be offered or sold in the United States without proper registration or exemption.
The mining exploration company primarily focuses on battery metals in Newfoundland and precious metals in Ontario. With an option to earn a 100% interest in the Ackley Lithium-Tin-Molybdenum-REEs property in Newfoundland and a significant landholding in the historical Beardmore-Geraldton Gold Belt in Ontario, the company aims to create shareholder value by advancing its exploration projects.
This news release contains forward-looking statements regarding the company’s future business, operations, financial performance, and prospects. While the company believes these statements are reasonable, readers are advised to evaluate the risks and uncertainties associated with such information. The company assumes no obligation to update or revise any forward-looking information. For more information, contact Vishal Gupta, President & CEO, at (647) 466-0506 or via email at vgupta@caprockmining.com.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the accuracy of this release.
