SNR:CC - 79 Resources Ltd. Upsizes Financing
(TheNewswire)
Vancouver, British Columbia – TheNewswire - June 27, 2024 – 79 Resources Ltd. - ( CSE:SNR ) -(“ 79 Resources ” or the " Corporation " or the “ Issuer ”) reportsthat it intends to increase the availability of its previouslyannounced non-brokered common share unit financing (the" Financing "), otherwise remaining consistent with the termspreviously announced by press release (see news release, 79 ResourcesLtd. Announces Financing, dated June 24, 2024), but now comprising anupsized maximum of up to 2,000,000 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 theCorporation (a " UnitShare ") and one common share purchasewarrant (a “ Warrant ”) that entitles the holder of aWarrant, upon further payment to the Corporation, to acquire oneadditional common share of the Corporation (a " Warrant Share ")at an exercise price of $0.10 per Warrant Share on any date prior tothe date which is two (2) years following the closing date of theFinancing, or tranche thereunder.
As previously announced, the Corporation plans to usethe proceeds of the Financing for working capital purposes.
If completed, either in part or in whole, the Financingwill be subject to all applicable regulatory approvals and customaryfour-month hold periods on securities issued thereunder (as pursuantto applicable securities laws of Canada).
The Corporation may pay a 6% cash finder’s fee oncertain subscriptions under the Financing, which excludes cashfinder’s fees on subscriptions by Insiders (as that term is definedby securities laws) who may in turn participate for greater than 25%of the Financing (as now upsized).
About 79 Resources Ltd.
79 Resources is a Vancouver-based junior miningexploration company. Traded on the Canadian Securities Exchange underthe symbol SNR, the Corporation seeks to acquire, explore and developmineral exploration projects. 79 Resourcescurrently holds the Five Point Copper-Gold Project in British Columbiaand the North Preston Uranium Project in Saskatchewan. For additionalinformation, please visit www.79resources.com.
The Corporation is subject to various risks anduncertainties, including those risks and uncertainties set out inpublic filings made by the Issuer, such public filings and otherimportant disclosures available through SEDAR+ (www.sedarplus.ca) andthe Corporation’s Disclosure Hall on the CSE(https://thecse.com/listings/79-resources-ltd/#disclosure).
On Behalf of the Board ofDirectors
Ry an Kalt
Chairman & Chief Executive Officer
Email: info@79resources.com
Tel: 604.687.2038
Forward-Looking Statements
This news release contains forward-looking statementswithin the meaning of Canadian securities laws. Some of theforward-looking statements can be identified by the use offorward-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 expressionsare intended to identify forward-looking statements. Forward-lookingstatements address future events and conditions and therefore involveinherent risks and uncertainties, including but not limited to thenumber of Units issued, if any, under the Financing and the closing,if any, of the Financing, as well as the Corporation’s ability tosustain itself as a going-concern and/or a publicly listed entity.Actual results may differ materially from those currently expected orforecast in such statements.
Neither the CSEnor its Regulation Services Provider (as that term is defined in thepolicies of the CSE Exchange) accepts responsibility for the adequacyor accuracy of this release.
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