CONE - Canada One Announces Closing of First Tranche of Private Placement and Enters Into Investor Relations Agreement
(TheNewswire)
Vancouver, BC - TheNewswire - September 8, 2023 - Canada One Mining Corp. (“ CanadaOne ” or the “ Company ”) (TSXV:CONE) (OTC:COMCF)(FSE:AU31) is pleased to announce that it hascompleted the first tranche of its non-brokered private placement andhas issued 10,963,330 units (each, a “ Unit ”), at a priceof $0.10 per Unit, for gross proceeds of $1,096,333. Each Unitconsists of one common share of the Company and one-half of one commonshare purchase warrant (each whole warrant, a “ Warrant ”), allowingholders to purchase an additional common share at an exercise price of$0.15 until September 5, 2026 (the “ Offering ”).
The first tranche of the Offering was completedpursuant to the Listed Issuer Financing Exemption (the “ LIFE Exemption ”) asoutlined in Part 5A of National Instrument 45-106 – ProspectusExemptions (“ NI45-106 ”) and pursuant to the AccreditedInvestor Exemption as outlined in Part 2 of NI 45-106. The Unitsissued to subscribers in the first tranche under the LIFE Exemptionare not subject to resale restrictions in accordance with Canadiansecurities laws. All other securities issued in the Offering will besubject to a statutory hold period of four-months-and-one-dayfollowing issuance.
The net proceeds raisedfrom the Offering will to be used to advance exploration anddevelopment of the Copper Dome Project located south of Princeton,British Columbia, extinguish liabilities andpayables and for general administrative and working capital purposes.
In connection with the completion of the first trancheof the Offering, the Company paid $4,750 and issued 47,500 Warrants tocertain arms-length third parties (the “ Finders ”) whoassisted in introducing subscribers to the Offering. The Warrantsissued to the Finders and any common shares of the Company issuableupon exercise of those Warrants are subject to restrictions on resalein accordance with Canadian securities laws until January 6, 2023. TheCompany anticipates paying finders’ fee to eligible third parties inconnection with the completion of the additional tranche of theOffering. Closing of the additional tranche of the Offering remainssubject to the approval of the TSX Venture Exchange.
Investor Relations
The Company is pleased to announce that it has entered into an investor relationsagreement with Strategix Media Inc. (“ Strategix ”),effective September 1, 2023, to provide investor relations services.Strategix is a boutique investor relations firm based in Vancouver,British Columbia, which provides cross-media marketing solutions,including social media, to public companies seeking to increase theircorporate awareness.
Strategix has been retained on a 12-month term at amonthly fee of C$8,500 plus reasonable out of pocket expenses for itsservices. After the initial 12-month period, either party mayterminate the agreement at any time providing the other party with a30 days' prior written notice. Strategix is not related to the Companyand has no interest, directly or indirectly, in the Company or itssecurities. The agreement is subject to TSX Venture Exchangeapproval.
For further information,interested parties are encouraged to visit the Company’s website at( www.canadaonemining.com )or contact the Company at ir@strategixir.com .
On behalf of the Board of Directors of
CANADA ONE MINING CORP.
Peter Berdusco
President and Chief Executive Officer
1 877 844 4661
Forward-LookingStatements
This press release includes certain"forward-looking information" and "forward-lookingstatements" (collectively "forward-looking statements")within the meaning of applicable Canadian securities legislation. Allstatements, other than statements of historical fact, included herein,without limitation, statements relating to the future operating orfinancial performance of the Company, are forward looking statements.Forward-looking statements are frequently, but not always, identifiedby words such as "expects", "anticipates","believes", "intends", "estimates","potential", "possible", and similar expressions,or statements that events, conditions, or results "will","may", "could", or "should" occur or beachieved. Forward-looking statements in this press release relate to,among other things: statements relating to the planned exploration anddevelopment of the Copper Dome Project and the intended use of theproceeds from the Offering. Actual future results may differmaterially. There can be no assurance that such statements will proveto be accurate, and actual results and future events could differmaterially from those anticipated in such statements. Forward lookingstatements reflect the beliefs, opinions and projections on the datethe statements are made and are based upon a number of assumptions andestimates that, while considered reasonable by the respective parties,are inherently subject to significant business, technical, economic,and competitive uncertainties and contingencies. Many factors, bothknown and unknown, could cause actual results, performance orachievements to be materially different from the results, performanceor achievements that are or may be expressed or implied by suchforward-looking statements and the parties have made assumptions andestimates based on or related to many of these factors. Such factorsinclude, without limitation: the timing, completion and delivery ofthe referenced assessments and analysis. Readers should not placeundue reliance on the forward-looking statements and informationcontained in this news release concerning these times. Except asrequired by law, the Company does not assume any obligation to updatethe forward-looking statements of beliefs, opinions, projections, orother factors, should they change, except as required by law.
TSX VentureExchange Disclaimer
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release .
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