MMMRF - Mammoth Increases Amount of Recently Announced Private Placement
(TheNewswire)
Toronto, Canada - TheNewswire - January 21, 2021) - Mammoth Resources Corp.(TSXV:MTH), (the “Company”, or “Mammoth”) is pleased to announce that followinginvestor enthusiasm for its recently announced private placement(refer to press release dated January 12, 2021), the Company isincreasing the amount of the original placement issuing 6,000,000common shares for gross proceeds of $600,000, by an additional 885,000common shares for gross proceeds of an additional $88,500 for a totalprivate placement of 6,885,000 shares issued at a price of $0.10 pershare for total gross proceeds of $688,500. The private placement isnow closed for further investment and the Company expects closing onthis newly announced amount next week, subject to TSX Venture Exchange (“Exchange”)approvals.
Thomas Atkins, President and CEO ofMammoth commented on the Private Placement, stating: “We’re very pleased to have had ourrecently announced private placement so enthusiasticallyover-subscribed and for this to have occurred so quickly. With theimminent closing of this financing, Mammoth will soon be mobilizingstaff to the Tenoriba project to commence activities in preparationfor the geophysical survey and other exploration works. We lookforward to reporting on results from the various project activitiesover the coming weeks.”
This private placement is available toaccredited investors. Securities issued under this private placement will be subject to afour-month hold period. In accordance with the requirements of theInvestment Dealer Exemption, the Company confirms there is no materialfact or material change related to the Company which has not beendisclosed. The private placement is subject to receipt of all requiredregulatory and Exchange approvals. The Company anticipates paying finder's fees of$4,750 on a portion of the private placement in accordance withapplicable securities laws and the policies of theExchange.
About Mammoth Resources:
Mammoth Resources (TSX-V: MTH) is a precious metalmineral exploration Company focused on acquiring and defining preciousmetal resources in Mexico and other attractive mining friendlyjurisdictions in the Americas. The Company holds a 100% interest(subject to a 2% net smelter royalty purchasable anytime within twoyears from commencement of commercial production for US$1.5 million)in the 5,333 hectare Tenoriba gold property located in the SierraMadre Precious Metal Belt in southwestern Chihuahua State, Mexico.Mammoth is seeking other opportunities to option exploration projectsin the Americas on properties it deems to host above average potentialfor economic concentrations of precious metalsmineralization.
To find out more about Mammoth Resources and to sign upto receive future press releases, please visit the company's website at: www.mammothresources.ca ., or contact Thomas Atkins, President and CEO at: 416 509-4326.
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Forward Looking Information: This news release maycontain or refer to forward-looking information. All information otherthan statements of historical fact that address activities, events ordevelopments that the Company believes, expects or anticipates will ormay occur in the future are forward-looking statements; examplesinclude the listing of its shares on a stock exchange and establishingmineral resources. These forward-looking statements are subject to avariety of risks and uncertainties beyond the Company's ability tocontrol or predict that may cause actual events or results to differmaterially from those discussed in such forward-looking statements.Any forward-looking statement speaks only as of the date on which itis made and, except as may be required by applicable securities laws,the Company disclaims any intent or obligation to update anyforward-looking statement, whether as a result of new information,future events or results or otherwise. Although the Company believesthat the assumptions inherent in the forward-looking statements arereasonable, forward-looking statements are not guarantees of futureperformance and, accordingly, undue reliance should not be placed onthese forward-looking statements due to the inherent uncertaintytherein.
Copyright (c) 2021 TheNewswire - All rights reserved.