PAUFF - Shine Minerals Corp. Announces Private Placement & Debt Settlement
(TheNewswire)
Kelowna, B C - TheNewswire - April 28, 2023 - Shine Minerals Corp. (the" Company ") (TSX-V:SMR.H) is pleased to announce theinitiation of a non-brokered private placement to raise proceeds of$200,000 or 4,000,000 units, up to a maximum of $500,000 or 10,000,000units, (each "Unit"), at $0.05 per Unit (the"Offering"). Each Unit consists of one common share of theCompany and one common share purchase warrant (a "Warrant").Each Full Warrant entitles the holder to purchase one common share ofthe Company at a price of $0.07 per share for a period of 12 monthsfollowing the date of issuance.
The Company may pay finder's fees in connection withthe Offering in accordance with the policies of the TSXV. Proceedsfrom the Offering will be used for general working capital purposes,Property acquisition and GEOChemical Analysis.
The Company further announces that it will enter into ashares-for-debt settlement agreements to settle up to $225,000 in debtthrough the issuance of Debt shares at a deemed value of $0.05 pershare to certain creditors of the corporation. There are no finder’sfees or commissions payable in connection with the Debt Settlementtransaction.
The issuance of the Debt Shares to the Creditors willconstitute a "related party transaction" within the meaningof the TSX-V Policy 5.9 (the " Policy ") and MultilateralInstrument 61-101 – Protection of Minority Security Holders inSpecial Transactions (" MI 61-101 ") adopted in the Policy.The Company intends to rely on the exemptions from the formalvaluation and minority shareholder approval requirements of MI 61-101contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither thefair market value (as determined under MI 61-101) of the Debt Shares,nor the Debt, exceeds 25% of the Company’s market capitalization (asdetermined under MI 61-101).
The Offering and the Debt Settlement is subject to theacceptance of the TSX Venture Exchange (“ TSXV ”). The Companyshares issued upon closing will be subject to a statutory 4-month holdperiod..
This news release does not constitute an offer to sellor a solicitation of an offer to sell any of the securities in theUnited States. The securities have not been and will not be registeredunder the United States Securities Act of 1933, as amended (the"U.S. Securities Act") or any state securities laws and maynot be offered or sold within the United States or to U.S. Personsunless registered under the U.S. Securities Act and applicable statesecurities laws or an exemption from such registration isavailable.
About Shine Minerals Corp.
Shine Minerals Corp is a Canada-based natural resourcefocused company. The Company is engaged in the acquisition,exploration, evaluation, and development of mineral resourceassets .
ON BEHALF OF THE BOARD
Mr. Devinder Randhawa
Chief Executive Officer
Tel: 1-866-979-7022
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 news release.
Cautionary Statement RegardingForward Looking Information
This news release contains “forward?lookinginformation or statements” within the meaning of applicablesecurities laws, which may include, without limitation, statementsthat address the Company’s plans for itsproperties/projects, the closing of the debt settlement, otherstatements relating to the technical, financial and business prospectsof the Company, and other matters. Allstatements in this news release, other than statements of historicalfacts, that address events or developments that the Company expects tooccur, are forward-looking statements. Although the Company believesthe expectations expressed in such forward-looking statements arebased on reasonable assumptions, such statements are not guarantees offuture performance and actual results may differ materially from thosein the forward-looking statements. Such statements and information arebased on numerous assumptions regarding present and future businessstrategies and the environment in which the Company will operate inthe future, including the price of metals, the ability to achieve itsgoals, that general business and economic conditions will not changein a material adverse manner, that financing will be available if andwhen needed and on reasonable terms. Such forward-looking informationreflects the Company’s views with respect to future events and issubject to risks, uncertainties and assumptions, including those filedunder the Company’s profile on SEDAR at www.sedar.com . Factors that could cause actual results to differ materiallyfrom those in forward looking statements include, but are not limitedto, continued availability of capital and financing and generaleconomic, market or business conditions, theimpact of Covid-19 or other viruses and diseases on the Company’sability to operate, adverse weather conditions,equipment failures, failure to obtain the necessary equipment ormachinery, failure to maintain all necessary government permits,approvals and authorizations, failure to maintain community acceptance(including First Nations), increase in costs, litigation, and failureof counterparties to perform their contractualobligations. The Company does not undertake toupdate forward?looking statements or forward?looking information,except as required by law.
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