ROUYN-NORANDA, QC, July 5, 2023
/CNW/ - Fokus Mining Corporation ("Fokus") (TSXV: FKM)
(OTCQB: FKMCF) (FSE: F7E1) announces that it has sold 2,217,000
common shares ("Common Shares") of Mosaic Minerals Corp.
("Mosaic Minerals"), representing approximately 3.22% of the
issued and outstanding Common Shares of Mosaic Minerals. An
aggregate of 620,000 Common Shares were sold on May 2, 2023 at a price of $0.080 with respect to 615,000 shares and at a
price of $0.085 with respect to 5,000
shares for gross proceeds of approximately $49,625, and an aggregate of 1,597,000 Common
Shares were sold on July 4, 2023 at
an average price of $0.071 per Common
Share, for gross proceeds of approximately $113,135. All the foregoing share dispositions
were made through the facilities of the Canadian Securities
Exchange.
Immediately prior to the disposition of the Common Shares
described above, Fokus held 10,000,000 Common Shares of Mosaic
Minerals, representing approximately 14.54% of the issued and
outstanding Common Shares of Mosaic Minerals. As a result of the
disposition, Fokus now holds 7,783,000 Common Shares, which
represents approximately 11.32% of the issued and outstanding
Common Shares of Mosaic Minerals.
In accordance with applicable securities laws, Fokus may, from
time to time and at any time, acquire additional common shares
and/or other equity, debt or other securities or instruments
(collectively, "Securities") of Mosaic Minerals in the open
market or otherwise, and reserves the right to dispose of any or
all of its Securities in the open market or otherwise at any time
and from time to time, and to engage in similar transactions with
respect to the Securities, the whole depending on market
conditions, the business and prospects of Mosaic Minerals and other
relevant factors.
A copy of an early warning report with the foregoing share
dispositions will be filed by Fokus in on SEDAR under Mosaic
Minerals' profile. This news release is issued under the early
warning provisions of Canadian securities legislation.
About Fokus
Fokus Mining Corporation is a mineral resource company actively
acquiring and exploring precious metal deposits located in the
province of Québec, Canada. In
implementing this major undertaking within the Canadian mining
industry, we are determined to unlock the secret of the
Galloway gold project.
The Galloway project covers an
area of 2,865.54 hectares and is located just north of the
Cadillac-Larder Lake deformation
which extends laterally for more than 100 km. Numerous gold
deposits are related to that structure and its subsidiaries. The
current work focuses on a small western portion of the mineral
claims where several mineral occurrences have been identified. For
more information, visit our website: fokusmining.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Related Links
http://fokusmining.com/
Caution Regarding Forward-Looking
Statements
Certain statements contained in this news release may constitute
forward‐looking information. Forward‐looking information is often,
but not always, identified by the use of words such as
"anticipate", "plan", "estimate", "expect", "may", "will",
"intend", "should", and similar expressions. Forward‐looking
information involves known and unknown risks, uncertainties and
other factors that may cause actual results or events to differ
materially from those anticipated in such forward‐looking
information. Fokus' actual results could differ materially from
those anticipated in this forward‐looking information as a result
of regulatory decisions, competitive factors in the industries in
which Fokus operates, prevailing economic conditions, changes to
Fokus's strategic growth plans, and other factors, many of which
are beyond the control of Fokus. Fokus believes that the
expectations reflected in the forward‐looking information are
reasonable, but no assurance can be given that these expectations
will prove to be correct and such forward‐looking information
should not be unduly relied upon. Any forward‐looking information
contained in this news release represents Fokus' expectations as of
the date hereof, and is subject to change after such date. Fokus
disclaims any intention or obligation to update or revise any
forward‐looking information whether as a result of new information,
future events or otherwise, except as required by applicable
securities legislation.
SOURCE Fokus Mining Corporation