Casa Minerals Inc. (TSX-V: Casa; OTC Pink: CASXF; Frankfurt: 0CM) (the “Company” or “Casa”) is pleased to announce it has closed an initial tranche of $223,124 of is announced $500,000 non-brokered private placement (the “Private Placement”) announced by news release dated June 22, 2021.
The initial tranche is comprised of 1,014,200 units of the Company (each a “Unit”) at a price of $0.22 per Unit. Each Unit shall consist of one common share (the “Shares”) and one Share purchase warrants (the “Warrants”). Each Warrant shall be exercisable for a period of 12 months warrants at $0.30 per shares. The warrants shall be subject to an acceleration clause. If the closing price of the Shares on the TSX Venture Exchange (the “Exchange”) is greater than $0.45 for 10 consecutive trading days, then the Company may, at its sole option, elect to provide notice (the “Acceleration Notice”) to the holders of the Warrants, which Acceleration Notice may be provided by news release, that the Warrants will expire at 4:00 p.m. (Vancouver time) on the date that is 30 days from the date of the Acceleration Notice (the “Accelerated Expiry Date”). In such instance, all Warrants that are not exercised prior to the Accelerated Expiry Date will expire on the Accelerated Expiry Date. All securities issued in conjunction with the initial tranche closing have a hold period of 4 four months and one day.
The proceeds of the private placements will be used towards funding exploration programs on the Pitman and Arsenault Projects in British Columbia, Canada, as well as exploration at the Congress Mine, Arizona, USA and a portion will be used for general and administrative expenses.
Closing of this Private Placement is subject to final approval by the TSX Venture Exchange.
The Company would like to clarify that in connection with the previous financing, as announced on May 20, 2021, additional 96,000 non-transferrable finder’s warrants were issued for a total of 868,200. The finder’s warrants have the same terms as the warrants.
On Behalf of Board of Directors
Farshad Shirvani, M.Sc. Geology
President and CEO
For more information, please contact:
Casa Minerals Inc.
Farshad Shirvani, President & CEO
Phone: (604) 678-9587
NEITHER 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.
Certain of the statements made and information contained herein may constitute “forward-looking information.” In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.