(TheNewswire)
Vancouver, British Columbia – TheNewswire - December 1 7 , 2021 – Exploits Discovery Corp. (CSE:NFLD) (CNSX:NFLD.CN) (OTC:NFLDF) (the“Company”) is pleased to announce that it will conduct anon-brokered private placement (the “Offering”) of 6,000,000 flow-through common shares (each, an “FT Share”) at aprice of $0.50 per FT Share for gross proceeds of up to $3,000,000. The offering is expected to close during the week of December 20,2021.
The gross proceeds received by the Company from theOffering will be used to incur eligible “Canadian explorationexpenses” (“CEE”) that are “flow-through miningexpenditures” (as such term is defined in the Income TaxAct (Canada)) related to the Company’s mining projects.
President and CEO Jeff Swinoga states, “We are pleased to welcomeour new investors to Exploits. These additional funds will be used forthe upcoming exploration season to continue the vital exploration workon our key gold projects. We look forward to an exciting 2022 as wecontinue to explore our large land package around our neighbours NewFound Gold and look to become the next major exploration success inthe Exploits Subzone, Central Newfoundland.”
In connection with the Offering, the Company will pay a finder's commission of 6% cash and 5% brokers warrants to eligible arms-length parties who have assisted inintroducing subscribers to the Offering. All securities issued underthe Offering will be subject to a four-month-and-one-day statutoryhold period in accordance with applicable securities laws. Completion of the Offering remains subject to any required regulatoryapprovals.
About Exploits Discovery Corp.
Exploits Discovery is a Canadian mineral explorationcompany focused on the acquisition and development of mineral projectsin Newfoundland, Canada. The Company currently holds the Jonathan'sPond, Dog Bay, Mt. Peyton, Middle Ridge, True Grit, Great Bend, andGazeebow projects covering approximately 2,000 square kilometres ofmineral tenements. The 50% owned PB Hill projects syndicate covers anadditional area of almost 2,000 square kilometres.
Exploits believes that the Exploits Subzone GoldBelt, which runs 200 kilometres from Dog Bay southwest toBay d'Espoir, has been neglected since the last major explorationcampaigns in the 1980s. The last 40 years have seen incrementaladvancements in the understanding of gold mineralization in the camp.The sum of this knowledge is now coming together in discrete andeffective exploration models that have delivered results including NewFound Gold's 2019 discovery hole. The Exploits Subzone and GRUBregions have been the focus of major staking and financing since late2019.
The team at Exploits, with significant local experienceand knowledge, have studied the entirety of the Exploits Subzone andsurrounding regions, and have picked individual land packages forstaking or joint ventures, where there are opportunities for worldclass discoveries and mine development. Exploits intends to leverageits local team and the larger shift in geologic understanding andbecome one of the most extensive explorers in the ExploitsSubzone.
ON BEHALF OF THE BOARD
/s/ "Jeff Swinoga"
President and CEO
For further information, pleasecontact:
Jared Rushton
(778) 819-2708
Neither the Canadian SecuritiesExchange nor its Regulation Service Provider (as the term is definedin the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy of accuracy of this newsrelease.
Forward-Looking Statements
This news release contains certain forward-lookingstatements, which relate to future events or future performance andreflect management's current expectations and assumptions. Suchforward-looking statements reflect management's current beliefs andare based on assumptions made by and information currently availableto the Company. Readers are cautioned that these forward-lookingstatements are neither promises nor guarantees, and are subject torisks and uncertainties that may cause future results to differmaterially from those expected including, but not limited to, marketconditions, availability of financing, actual results of the Company'sexploration and other activities, environmental risks, future metalprices, operating risks, accidents, labor issues, delays in obtaininggovernmental approvals and permits, and other risks in the miningindustry. All the forward-looking statements made in this news releaseare qualified by these cautionary statements and those in ourcontinuous disclosure filings available on SEDAR at www.sedar.com . These forward-lookingstatements are made as of the date hereof and the Company does notassume any obligation to update or revise them to reflect new eventsor circumstances save as required by applicable law.
Acknowledgments
Exploits Discovery would like to acknowledge thefinancial support of the Junior Exploration Assistance Program fromthe Department of Natural Resources, Government of Newfoundland andLabrador.
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