(TheNewswire)
Vancouver, Canada – TheNewswire- October4 th , 2023 – Arbor Metals Corp. (“ Arbor ” or the“ Company ”) (TSXV:ABR ) ( FWB:432) ispleased to announce the successful completion of its plannedexploration program at the Jarnet Lithium Project in Quebec, Canada.The comprehensive program, which focused on mapping, prospectingactivities, and drilling potential targets, has been concluded, andall collected samples have been diligently dispatched to thelaboratory for testing and analysis.
Mark Ferguson, President and CEO of Arbor, expressedhis appreciation for the hard work and dedication of the explorationteam, stating, "I want to extend my sincere gratitude to ourdedicated team for their commitment during this exploration program.Their efforts have been commendable, and we eagerly anticipate thelaboratory results, which will help shape our future explorationplans."
Arbor is dedicated to conducting exploration activitieswith the highest regard for environmental sensitivity and in closecollaboration with local communities and Indigenous groups. TheCompany recognizes the significance of responsible resourcedevelopment and is committed to upholding these principles throughoutits operations.
Private Placement Financing
The Company is also pleased to announce that it willconduct a non-brokered private placement (the “ Offering ”), underthe Listed Issuer Financing Exemption (as defined below), of up to3,333,334 units of the Company (each, a “ Unit ”) at a priceof $1.50 per Unit to raise gross proceeds of up to $5,000,000. EachUnit will consist of one common share of the Company andone-half-of-one common share purchase warrant (each whole warrant, a“ Warrant ”). Each Warrant will entitle the holder to purchase onecommon share of the Company at a price of $2.00 at any time on orbefore that date which is twelve months after the closing date of theOffering.
The net proceeds raised from the Offering will be usedto advance further exploration at the Jarnet Lithium Project, toretire existing payables, and for general working capitalpurposes.
Subject to compliance with applicable regulatoryrequirements and in accordance with National Instrument 45-106 – ProspectusExemptions (“ NI 45-106 ”), theOffering is being made to purchasers’ resident in Canada, exceptQuebec, pursuant to the listed issuer financing exemption under Part5A of NI- 45-106 (the “ Listed Issuer Financing Exemption ”). Thesecurities offered under the Listed Issuer Financing Exemption willnot be subject to a hold period in accordance with applicable Canadiansecurities laws. There will be an offering document related to theOffering that will be accessible under the Company’s profile at www.sedarplus.ca and on theCompany’s website at: www.arbormetalscorp.com . Prospective investors should read this offering document beforemaking an investment decision.
The Company may pay finders’ fees to eligible partieswho have assisted in introducing subscribers to the Offering. Closing of the Offering remains subject to the approval of the TSXVenture Exchange.
About Arbor Metals Corp.
Arbor Metals Corp. is a mining exploration company focused on developinghigh-value, geographically significant mineral projects worldwide. Arbor is paving the way foradvanced mineral exploration as it oversees world-class miningprojects. The Company is confident that combining quality projectswith proven strategies and a dedicated team will yield exceptionaloutcomes. Arbor currently oversees three outstanding mineral projects.
The Jarnet lithiumproject , located in the James Bay region ofQuebec, comprises 47 map-designated claims, covering an area of approximately 3,759 hectares. The Jarnet project is contiguous to the Corvette-FCI property, where diamonddrilling has confirmed significant lithium mineralization,representing one of the highest-profile lithium exploration projectsin the sector.
For further information, contact Mark Ferguson, ChiefExecutive Officer, at info@arbormetalscorp.com , 403-852-4869, orvisit the Company’s website at www.arbormetalscorp.com .
On behalf of the Board,
Mark Ferguson, Chief Executive Officer
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
Thisnews release may contain certain “Forward-Looking Statements”within the meaning of the United States Private Securities LitigationReform Act of 1995 and applicable Canadian securities laws. When orif used in this news release, the words “anticipate,”“believe,” “estimate,” “expect,” “target, “plan,”“forecast,” “may,” “schedule,” and similar words orexpressions identify forward-looking statements or information. These forward-looking statements or information may relate toplanned project development, exploration programs, the intended use ofthe proceeds from the Offering and other factors or information. Such statements represent the Company’s current views with respectto future events and are necessarily based upon a number ofassumptions and estimates that, while considered reasonable by theCompany, are inherently subject to significant business, economic,competitive, political and social risks, contingencies anduncertainties. Many factors, both known and unknown, could causeresults, performance, or achievements to be materially different fromthe results, performance or achievements that are or may be expressedor implied by such forward-looking statements. The Company does notintend and does not assume any obligation, to update theseforward-looking statements or information to reflect changes inassumptions or changes in circumstances or any other events affectingsuch statements and information other than as required by applicablelaws, rules and regulations.
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