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Valkea Resources Corp. (TSXV: OZ,OTC:OZBKF) (OTCQB: OZBKF) (the "Company" or "Valkea") is pleased to announce the early exercise of 4.5M warrants by management and cornerstone shareholders.
Proceeds from the exercise will be used for general corporate purposes, strengthening the technical team in Finland and expediting certain programs with the goal of timely recommencement of drilling later in the year. Following the early warrant exercise, the Company has cash of C$3.2M and 65.2M issued shares outstanding (93.1M shares on a fully diluted basis).
"The early exercise of warrants is a clear endorsement of the Company's assets and strategic direction established following the recent management transition," stated Thomas Credland, President and CEO of Valkea Resources. "With the expected consolidation of the Central Lapland Greenstone Belt by Agnico Eagle Mines Limited, Valkea is now uniquely positioned as the largest independent Finland-focussed explorer and the second-largest holder of prospective ground in this highly endowed district. Underpinned by a strengthened technical and leadership team, we are systematically developing our prospect pipeline with the goal of recommencing drilling on the highest-priority targets in the second half of the year."
About Valkea Resources
Valkea Resources is a mineral exploration company focussed on a portfolio of properties in the Central Lapland Greenstone Belt of Northern Finland. It is developing a proprietary regional geological model and will employ a proven exploration methodology to systematically generate and progress gold and base metals targets with potential to become high quality mines of the future.
Contact Information
For more information please contact:
Thomas Credland, President, Chief Executive Officer and Director
Tel: +44 7775 501 431 | Email: tcredland@valkea.ca
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.
Forward Looking Statements
This news release contains forward-looking statements or forward-looking information relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements in this news release include but are not limited to statements regarding the Company's exploration plans.
Although management has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There is 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 forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except as, and to the extent required by, applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296365
