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Infinity Stone Ventures Corp. (CSE: GEMS) (OTCQB: TLOOF) (FSE: B2I) (the "Company" or "Infinity Stone"), is pleased to announce the closing of the final tranche of its non-brokered private placement (the "Offering") of 1,130,000 Units (each, a "Unit") at a price of $0.25 per Unit, for gross proceeds of $282,500. Each Unit is comprised of one (1) Class A Subordinate Voting Share (a "Share") and one-half of one (12) Share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant is exercisable into one (1) Share at a price of $0.50 for a period of two (2) years from the date of issuance.
In connection with the Offering, the Company issued 34,400 finders' warrants, and paid finder's fees of $8,600. Each finders' warrant is exercisable into one (1) Share at a price of $0.50 for a period of two (2) years from the date of issuance.
The Company intends to use the net proceeds from the Offering for exploration expenses and general working capital.
The Company is also pleased to announce it has engaged various investor relations services from the following companies: Stockhouse Publishing; Investing News Network; Volume Hunter; and National Inflation Association (collectively, the "IR Firms"). The terms of engagements vary.
In consideration of the services to be provided by the IR Firms, the Company will pay fees monthly and such remuneration will be in no way contingent upon the market price or trading volume of the Shares of the Company.
The IR Firms are at arm's length to the Company and will at all times be trading as principal for their own accounts and using their own capital. The IR Firms will use their knowledge and discretion in providing investor relations services and no assurance has been made as to any particular effect or result regarding the market for the Shares. The IR Firms have covenanted to operate in accordance with best trading practices at all times.
The securities referenced herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.
About Infinity Stone Ventures
Infinity Stone's mission is to be a diversified, single source supplier for the critical energy metals being used in the clean energy revolution alongside its established SaaS solution portfolio. Infinity Stone is meeting the demand from battery and wind turbine manufacturers, nuclear and hydrogen energy producers, and energy metals speculators by acquiring 100% interest in critical mineral deposits and occurrences in stable mining-friendly jurisdictions, close to final use destinations in North American manufacturing hubs.
To register for investor updates please visit https://infinitystone.ventures.
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Infinity Stone Contact
Zayn Kalyan
CEO and Director
Direct: 778-938-3367
zayn@altuscapital.ca
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
Forward-Looking Statements Disclaimer
This press release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "projects", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this press release are based upon what management of Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements may also be affected by risks and uncertainties in the business of the Company, including those described in the Company's public filings available on www.SEDAR.com. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/142352
