Base Metals

ExGen Resources Inc. is pleased to announce that it intends to complete a non-brokered private placement offering of up to 100,000,000 units at a price of $0.015 per unit, for gross proceeds of up to $1,500,000 . Each unit will consist of one common share and one common share purchase warrant. Each whole warrant will entitle the holder thereof to acquire one common share at a price of $0.05 per share for a period of ...

ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) (" ExGen ") is pleased to announce that it intends to complete a non-brokered private placement offering of up to 100,000,000 units at a price of $0.015 per unit, for gross proceeds of up to $1,500,000 (the " Private Placement "). Each unit will consist of one common share and one common share purchase warrant. Each whole warrant will entitle the holder thereof to acquire one common share at a price of $0.05 per share for a period of two (2) years after the closing. The warrants have an acceleration provision whereby if the closing price of ExGen's common shares on the TSX Venture Exchange (the " TSXV ") is at least $0.10 for a period of ten (10) consecutive trading days (whether or not trading occurs on all such days), ExGen will have the right to accelerate the expiry date of the Warrants to 30 days from the date of issuance of a news release by ExGen announcing the accelerated exercise period.

ExGen intends to complete the Private Placement using available ‎prospectus exemptions under securities laws including the accredited investor exemption and the ‎close friends, family and business associates exemption. Any investors interested in participating in ‎the Private Placement should contact ExGen pursuant to the contact information set forth below. Closing of the Private Placement is anticipated to occur on or around October 26, 2020. A finder's fee ‎of up to 7% of the gross proceeds of the Private Placement may be paid in cash or ExGen common shares ‎on all or any portion of this Private Placement.‎ The net proceeds from the Private Placement will be used for potential exploration on ExGen's properties, potential future acquisitions and general working capital.

The pricing of the Private Placement is based on the temporary relief measures established by the TSXV on April ‎‎8, 2020, and extended September 16, 2020, in response to the COVID-19 pandemic. The TSXV published the temporary relief ‎measures to Policy 4.1 and Policy 4.3, lowering the minimum pricing from $0.05 to $0.01 per share for shares issued pursuant ‎to a private placement when the market price of an issuer's shares is not greater than $0.05. ‎It is not anticipated that any new insiders will be created, nor that any change of control will occur, ‎as a result of the Private Placement. Any participation by insiders of ExGen in the Private ‎Placement will be on the same terms as arm's length investors. There is no minimum aggregate ‎subscription amount for the Private Placement, but completion of the Private Placement is subject to ‎all regulatory approvals, including the TSXV acceptance. Depending on market conditions, ‎the gross proceeds of the Private Placement could be increased or decreased. All securities issued in connection with the Private Placement will be subject to a hold period of four months and one day from the date of closing. ‎‎For further ‎details on the Private Placement, please contact ExGen at the contact information set forth below.

About ExGen Resources Inc.

ExGen, is a project accelerator that seeks to fund exploration and development of our projects through joint ventures and partnership agreements. This approach significantly reduces the technical and financial risks for ExGen, while maintaining the upside exposure to new discoveries and potential cash flow. ExGen intends to build a diverse portfolio of projects across exploration stages and various commodity groups. ExGen currently has 6 projects in Canada and the US.

For more information on ExGen please contact ExGen Resources Inc.:

Jason Tong
Chief Financial Officer
Email: jason@catapultgroup.ca

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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 news release.

This news release contains certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. In particular, this news release contains forward-looking information in respect of: the Private Placement, including, the magnitude of the Private Placement, the potential closing date of the Private Placement, the potential use of proceeds of the Private Placement, including potential exploration on ExGen's properties and potential future acquisitions‎, the potential exemptions used for the Private Placement, any potential finder's fee paid on the Private Placement, and the potential accelerated expiry date of the warrants; and ExGen's business model, goals and approach as a project accelerator, including ExGen's intention to fund projects through joint ventures and partnerships, and its intention to diversify its portfolios of projects across exploration stages and commodity groups. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. This forward-looking information reflects ExGen's current beliefs and is based on information currently available to ExGen and on assumptions ExGen believes are reasonable. These assumptions include, but are not limited to: the current share price of ExGen's common shares; TSXV acceptance and market acceptance of the Private Placement; ExGen's current and initial understanding and analysis of its projects; ExGen's general and administrative costs remaining constant; market acceptance of ExGen's business model, goals and approach; the availability of potential acquisitions and prices acceptable to ExGen; and the feasibility and reasonableness of conducting exploration on any of ExGen's projects. Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of ExGen to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the early stage development of ExGen and its projects; general business, economic, competitive, political and social uncertainties; capital market conditions and market prices for securities, junior market securities and mining exploration company securities; commodity prices; the actual results of current exploration and development or operational activities; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation or income tax legislation, affecting ExGen; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. A description of other risk factors that may cause actual results to differ materially from forward-looking information can be found in ExGen's disclosure documents on the SEDAR website at www.sedar.com. Although ExGen has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. ExGen does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Primary Logo

News Provided by GlobeNewswire via QuoteMedia

Hudbay Announces Election of Directors

Hudbay Minerals Inc. ("Hudbay" or the "company") ( TSX, NYSE: HBM) today announced that each of the eleven individuals nominated for election as a director of Hudbay at the company's Annual and Special Meeting of Shareholders held on May 10, 2022 was elected.

The detailed voting results are set out below:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Turquoise Hill Announces Financial Results and Review of Operations for the First Quarter Of 2022

Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) ("Turquoise Hill" or the "Company") today announced its financial results for the period ended March 31, 2022. All figures are in U.S. dollars unless otherwise stated.

"As COVID-19 cases have trended downward, the size of the onsite workforce over the quarter increased to approximately 90% of plan. With the easing of the pandemic, concentrate shipment volumes to customers also improved and on-site concentrate inventory were reduced by 30% in the quarter. We have also planned a total of 25,000 metres of drilling in 2022 and 2023 to increase our knowledge of the orebody and to grow the Mineral Reserve of the Hugo North Lift 1. After two years of negotiations, we reached a mutual understanding for a renewed partnership with the Government of Mongolia which allowed us to start caving operations in January. Consequently, the underground mine remains on-track for sustainable production in H1 2023."

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Teck to Present at BofA Securities 2022 Global Metals, Mining & Steel Conference May 18, 2022

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") President and Chief Executive Officer Don Lindsay will be participating in a fireside chat at the BofA Securities 2022 Global Metals, Mining & Steel conference on Wednesday, May 18, 2022 at 8:00 a.m. Eastern5:00 a.m. Pacific time. The investor presentation will include information on company strategy, financial performance, and outlook for the company's business units.

The fireside chat will be webcast through the following link at: https://bofa.veracast.com/webcasts/bofa/metalsminingsteel2022/idHEAE0W.cfm .

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Kiplin Metals Inc.

Kiplin Metals Exploration Program On Track in Athabasca, Saskatchewan, Canada

(TheNewswire)

Kiplin Metals Inc.

May 10 th 2022 TheNewswire - Kiplin Metals Inc. (TSXV:KIP) (OTC:ALDVF) (the " Company " or " Kiplin ") announces that the Company is unaware of any material events related to the operations of the Company that could have resulted in the recent market activity. The Company remains on track with the activities planned for its summer exploration programs. The Company is focused on advancing both the Cluff Lake Uranium and Exxeter Gold projects through the exploration and development processes. Management remains very confident in the successful completion of the planned work programs for 2022.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Ivanhoe Mines Issues First Quarter 2022 Financial Results, as Well as Review of Mine Construction and Exploration Activities

Kamoa-Kakula Copper Mining Complex in the Democratic Republic of Congo sold 51,919 tonnes of payable copper and recognized record revenue of $519.6 million in Q1 2022

The Kamoa-Kakula joint venture recorded record EBITDA of $399.4 million, and operating profit of $380.5 million for Q1 2022

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Baker Steel Executes Definitive Agreement to Convert Loan

Baker Steel Executes Definitive Agreement to Convert Loan

Azarga Metals Corp. ("Azarga Metals" or the "Company") (TSXV:AZR) is pleased to announce that it has executed a definitive agreement (the "Agreement") to supersede the binding letter of intent with Baker Steel Resources Trust Limited ("BSRT") announced on April 19, 2022. BSRT has agreed, subject to receipt of all required regulatory approvals, to convert the US$3.5 million loan between Azarga Metals and BSRT at a fixed Canadian dollar equivalent value of C$4.7 million, with a conversion price of C$0.10 per share for a total issue of 46,925,500 common shares of the Company (the "Shares

Pursuant to the Agreement, Azarga Metals has, amongst other things, granted BSRT the option to acquire the Unkur project (the "Unkur Option") until December 31, 2023, after which the Unkur Option will automatically expire. Closing of the Agreement is subject to receipt of regulatory approval and standard closing conditions.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×