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79 Resources Ltd. Announces Financing

24.06.2024 | 20:30 Uhr | The Newswire
Vancouver, June 24, 2024 - 79 Resources Ltd. - (CSE:SNR) - ("79 Resources" or the "Corporation" or the "Issuer") reports that it intends to conduct a non-brokered common share unit financing (the "Financing") consisting of up to 1,000,000 common share units (the "Units") to be issued at a price of $0.07 per Unit.

Each Unit shall consist of one common share of the Corporation (a "Unit Share") and one common share purchase warrant (a "Warrant") that entitles the holder of a Warrant, upon further payment to the Corporation, to acquire one additional common share of the Corporation (a "Warrant Share") at an exercise price of $0.10 per Warrant Share on any date prior to the date which is two (2) years following the closing date of the Financing, or tranche thereunder.

The Corporation plans to use the proceeds of the Financing for working capital purposes.

If completed, either in part or in whole, the Financing will be subject to all applicable regulatory approvals and customary four-month hold periods on securities issued thereunder (as pursuant to applicable securities laws of Canada).

79 Resources may pay a 6% cash finder's fee on certain subscriptions under the Financing, which excludes cash finder's fees on subscriptions by Insiders (as that term is defined by securities laws) who may in turn participate for greater than 25% of the Financing.

About 79 Resources Ltd.

79 Resources is a Vancouver-based junior mining exploration company. Traded on the Canadian Securities Exchange under the symbol SNR, the Corporation seeks to acquire, explore and develop mineral exploration projects. 79 Resources currently holds the Five Point Copper-Gold Project in British Columbia and the North Preston Uranium Project in Saskatchewan. For additional information, please visit www.79resources.com.

The Corporation is subject to various risks and uncertainties, including those risks and uncertainties set out in public filings made by the Issuer, such public filings and other important disclosures available through SEDAR+ (www.sedarplus.ca) and the Corporation's Disclosure Hall on the CSE (https://thecse.com/listings/79-resources-ltd/#disclosure).

On Behalf of the Board of Directors

Ryan Kalt
Chairman & Chief Executive Officer
Email: info@79resources.com
Tel: 604.687.2038

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Canadian securities laws. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words "anticipate," "expect," "suggest," "plan," "believe," "intend,", "intention" "estimate," "target," "project," "should," "could," "would," "may," "will," "forecast" and other similar expressions are intended to identify forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties, including but not limited to the number of Units issued, if any, under the Financing and the closing, if any, of the Financing, as well as the Corporation's ability to sustain itself as a going-concern and/or a publicly listed entity. Actual results may differ materially from those currently expected or forecast in such statements.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2024 TheNewswire - All rights reserved.

 
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