TSX-V: MSR
TORONTO, Nov. 25, 2019 /CNW/ - Minsud Resources
Corp. (TSX-V:MSR) ("Minsud" or the "Company") announces that it
intends to complete, subject to the acceptance of the TSX Venture
Exchange (the "TSXV"), a non-brokered private placement of
units of the Company ("Units") for gross proceeds of up to
$450,000 (the "Private
Placement") at $0.10 per Unit,
with each Unit consisting of one common share of the Company (each,
a "Share") and one common share purchase warrant (a
"Warrant"). Each Warrant is exercisable into one Share at
$0.15 for a term of two years from
the date of issue.
The net proceeds will be used to continue exploring the Chita
Valley Project as well as working capital and corporate overhead
requirements.
No commission or finder's fee will be paid in connection with
the Private Placement. The Shares will be subject to a hold period
of four months and a day from their date of issuance. The Company
expects to complete the Private Placement within 30 days.
A portion of the gross proceeds is expected to be subscribed for
by insiders of the Company. Any such subscription will be
considered to be a related party transaction within the meaning of
TSX-V Policy 5.9 which incorporates Multilateral Instrument 61-101
("MI 61-101"). The Company intends to rely on the exemptions
from the valuation and minority shareholder approval requirements
of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101
in respect of such insider participation.
About Minsud Resources Corp.:
Minsud is a mineral exploration company focused on exploring its
flagship Chita Valley Cu-Mo-Au-Ag Project, in the Province of San
Juan, Argentina. The Company also
holds a 100% owned portfolio of selected early stage prospects,
including 6,000 ha in Santa Cruz
Province, Argentina.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION:
This news release includes certain information that may
constitute forward-looking information under applicable Canadian
securities laws. Forward-looking information includes, but is not
limited to, statements about the announced private placement,
strategic plans, spending commitments, future operations, results
of exploration, anticipated financial results, future work
programs, capital expenditures and objectives. Forward-looking
information is necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from
those expressed or implied by such forward-looking information
including, but not limited to: the ability of the Company to
complete the announced private placement; changes in national and
local government, legislation, taxation, controls, regulations and
political or economic developments in Canada and Argentina or other countries in which the
Company may carry on business in the future; operating or technical
difficulties in connection with exploration and development
activities; fluctuations in the currency markets (such as the
Canadian dollar, Argentina peso,
and the U.S. dollar); risks and hazards associated with the
business of mineral exploration and development (including
environmental hazards or industrial accidents); risks relating to
the credit worthiness or financial condition of suppliers and other
parties with whom the Company does business; presence of laws and
regulations that may impose restrictions on mining, including those
currently enacted in Argentina;
employee relations; relationships with and claims by local
communities; availability and increasing costs associated with
operational inputs and labour; the speculative nature of mineral
exploration and development, including the risks of obtaining
necessary licenses, permits and approvals from government
authorities; business opportunities that may be presented to, or
pursued by, the Company; challenges to, or difficulty in
maintaining, the Company's title to properties; risks relating to
the Company's ability to raise funds; fluctuations in commodity
prices and the factors identified in the Company's continuous
disclosure documents filed on SEDAR. There can be no assurance that
such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such information. Accordingly, readers should not place undue
reliance on forward-looking information. All
forward-looking-information contained in this news release is given
as of the date hereof and is based upon the opinions and estimates
of management and information available to management as at the
date hereof. The Company 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 law.
Neither the 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.
SOURCE Minsud Resources Corp.