(TheNewswire)
Vancouver, British Columbia - TheNewswire – February 25, 202 1 - Exploits Discovery Corp. (“Exploits”or the “Company”) (CSE:NFLD) (OTC:RNRRF) (FSE:634-FF) is pleased to announce a non-brokered private placement of$4,000,000 (the “Offering”) through the issuance of up to3,333,333 units (the “Units”) at a price of $0.45 per Unit and upto 5,102,040 flow through common shares (the “Flow ThroughShares”) at a price of $0.49 per Flow Through Share. Each Unit willbe comprised of one common share and one share purchase warrant (a“Warrant”). Each Warrant entitles the holder to purchase onecommon share of the Company at a price of $0.67 per share for a periodof two years from the closing of the Offering. If the closing price of the common shares of the Company ishigher than $1.00 for a period of 20 consecutive trading days at anytime after six months following the closing date, the Company canaccelerate the expiry date of the Warrants 30 days after the Companygives notice of such acceleration. The proceeds from the Units will beused for exploration on theCompany’s properties, acquisition of additional properties,marketing and general working capital. The proceeds fromthe sale of the Flow Through Shares will be used to incur qualifyingexpenditures on the Company’s properties.
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 which cumulatively cover an area of approximately2,111 square kilometres.
All projects within Exploits’ portfolio lie withinthe Exploits Subzone.
Exploits believes that the Exploits Subzone, whichruns 200 km from Dog Bay southwest to Bay d'Espoir, has beenneglected since the last major exploration campaigns in the 1980s. Thelast 40 years have seen incremental advancements in the understandingof gold mineralization in the camp. The sum of this knowledge is nowcoming together in discrete and effective exploration models that havedelivered discovery such as New Found Gold's 2019 discovery of 92.86g/t Au over 19.0 metres near surface. The Exploits Subzone and GRUBregions have been the focus of major staking and financing throughout2020, with increased exploration activities forecasted in the areamoving into 2021.
The team at Exploits, with significant local experienceand knowledge, have studied the entirety of the Exploits Subzone andpicked individual land packages for staking or joint venture wherethere is an opportunity for world class discoveries and minedevelopment. Exploits intends to leverage its local team and thelarger shift in understanding and become one of the most extensiveexplorers in the Exploits Subzone.
ON BEHALF OF THE BOARD
/s/ "Michael Collins "
President and CEO
For further information, pleasecontact:
Michael Collins, CEO
Tel: (604) 681-3170
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