Explor Extends Offering of Common and Flow-Through Shares
March 12 2018 - 10:51AM
Explor Resources Inc. (TSX-V:EXS) (OTCQB:EXSFF)
(FRANKFURT:E1H1) (BE:E1H1)
(“Explor” or
the “
Corporation”
)
announces that Explor is extending for thirty days the non-brokered
private placement offering of up to 2,000 Units, for total gross
proceeds of up to CDN $2,000,000, announced on February 1st, 2018.
Each Unit is offered at a price of $1,000 and is composed of:
i) 7,143 Common Shares of the Corporation at a price of $0.07 per
Common Share and 3,572 Warrants; and ii) 7,143 Flow-through
Shares at a price of $0.07 per Flow-through Share and 3,571
Warrants. One whole Warrant and $0.12 are required for the
acquisition of one Common Share of the Corporation at the latest 24
months from each closing (the “Private Placement”).
Finder’s fees may be paid to admissible
registrants in connection with this Private Placement. This Private
Placement is subject to the final approval of the TSX Venture
Exchange.
The Private Placement Offering is available
directly from the Corporation or at Stockhouse Deal Room
(www.stockhouse.com/dealroom or at
www.explorresources.com.) Stockhouse Deal Room is an equity
investment platform created specifically for public companies to
access investors. Stockhouse has more than one million unique
visitors a month and provides access to a large number of qualified
and accredited investors.
The proceeds from the flow-through shares will
be used by Explor to advance the open pit potential of the Timmins
Porcupine West Project in Ontario and to advance the copper and VMS
Chester Project in New Brunswick. The net proceeds from the common
shares will be used for the development of the Corporation’s other
exploration projects and for general working capital purposes.
Explor Resources Inc. is a publicly
listed company trading on the TSX Venture (EXS), on the OTCQB
(EXSFF) and on the Frankfurt and Berlin Stock Exchanges
(E1H1).
This press release was prepared by Explor.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the Policies of the TSX
Venture Exchange) has reviewed or accepts responsibility for the
adequacy or accuracy of this release.
About Explor Resources
Inc.Explor Resources Inc. is a Canadian-based natural
resources company with mineral holdings in Ontario, Québec,
Saskatchewan and New Brunswick. Explor is currently focused on
exploration in the Abitibi Greenstone Belt. The belt is found in
both provinces of Ontario and Québec with approximately 33% in
Ontario and 67% in Québec. The Belt has produced in excess of
180,000,000 ounces of gold and 450,000,000 tonnes of cu-zn ore over
the last 100 years. The Corporation was continued under the laws of
Alberta in 1986 and has had its main office in Québec since
2006.
Explor Resources Flagship project is the Timmins
Porcupine West (TPW) Project located in the Porcupine mining camp,
in the Province of Ontario. The TPW mineral resource (Press Release
dated August 27, 2013) includes the following:
Open Pit Mineral Resources at a 0.30 g/t Au cut-off
grade are as follows:
Indicated: 213,000 oz
(4,283,000 tonnes at 1.55 g/t Au) Inferred:
77,000 oz
(1,140,000 tonnes at 2.09 g/t Au)
Underground Mineral Resources at a 1.70 g/t Au cut-off
grade are as follows:
Indicated: 396,000 oz
(4,420,000 tonnes at 2.79 g/t Au) Inferred:
393,000 oz (5,185,000
tonnes at 2.36 g/t Au)
This document may contain forward-looking
statements relating to Explor’s operations or to the environment in
which it operates. Such statements are based on operations,
estimates, forecasts and projections. They are not guarantees of
future performance and involve risks and uncertainties that are
difficult to predict and may be beyond Explor’s control. A number
of important factors could cause actual outcomes and results to
differ materially from those expressed in forward-looking
statements, including those set forth in other public filling. In
addition, such statements relate to the date on which they are
made. Consequently, undue reliance should not be placed on such
forward-looking statements. Explor disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
save and except as may be required by applicable securities
laws.
For further information please
contact:
Christian Dupont, President |
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Tel: 888-997-4630 or 819-797-4630 |
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Fax: 819-797-1780 |
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Website:
www.explorresources.comEmail:
info@explorresources.com |
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