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Hertz Energy Inc. (CSE: HZ,OTC:HZLIF) (OTCQB: HZLIF) (FSE: A340) ("Hertz" or the "Company") is pleased to announce a non-brokered private placement for gross proceeds of up to $440,000 (the "Private Placement").
The Private Placement will consist of up to 4,400,000 units of the Company (the "Units") at a price of $0.10 per Unit gross proceeds of up to $440,000 (the "Offering"). Each Unit will consist of one (1) common share in the capital of the Company (each a "Common Share") and one (1) Common Share purchase warrant (a "Warrant") granting the holder the right to purchase one (1) additional Common Share of the Company (a "Warrant Share") at a price of $0.125 at any time on or before 36 months from the Closing Date (defined below).
The gross proceeds from the Offering will be used for general and administrative matters and to advance the Company's current Lake George Antimony project
The Private Placement may close on one or more dates as the Company may determine.
All securities issued in connection with the Private Placement will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.
The securities issued pursuant to the Private Placement have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
About the Company
Hertz Energy is a British Columbia-based junior exploration company focused on the acquisition and exploration of mineral properties in Eastern Canada. The Company maintains a strategic portfolio of four projects targeting lithium and antimony mineralization in Quebec and New Brunswick.
Lithium Portfolio: The Company's lithium assets include the Agastya Lithium Property in Quebec, comprising three non-contiguous claim blocks positioned along the greenstone belt adjacent to the Adina, Trieste, and Galinée properties-areas recognized for significant LCT (Lithium-Cesium-Tantalum) pegmatite potential within favorable greenstone and metasediment host rocks. The 26,500-hectare AC/DC Project is strategically located in Quebec's James Bay Lithium District, situated just 26 kilometers southeast of Patriot Battery Metals' Corvette Lithium Project and contiguous to Rio Tinto's Kaanaayaa project claims.
Antimony Portfolio: The Company's antimony assets consist of the Harriman Property, located 17 kilometers northeast of New Richmond in Quebec's Gaspé Region, where preliminary exploration is targeting antimony and gold mineralization along with zinc and copper potential. The Lake George Property, situated 30 kilometers southwest of Fredericton in New Brunswick, is being explored for antimony-gold mineralization.
For further information, please contact Mr. Kal Malhi or view the Company's filings at www.sedarplus.ca.
On Behalf of the Board of Directors
Kal Malhi
Chief Executive Officer and Director
Phone: 604-805-4602
Email: kal@bullruncapital.ca
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277831
