(TheNewswire)
Vancouver, British Columbia - TheNewswire - December 21, 2021 -Exploits Discovery Corp. (CSE:NFLD) (CNSX:NFLD.CN) (OTC:NFLDF) (the“Company”) is pleased to announce that it has completed anon-brokered private placement (the “Offering”) for gross proceedsof $3,000,000.
The Company issued 6,000,000 flow-through common shares (each, an“FT Share”) at a price of $0.50 per FT Share. Thegross proceeds received by the Company from the Offering will be usedto incur eligible “Canadian exploration expenses” (“CEE”) thatare “flow-through mining expenditures” (as such term is defined in the Income Tax Act (Canada)) related to theCompany’s mining projects.
The Company paid a finder’s fee in the amount of$180,000 and issued 300,000 non-transferable warrants (the“Finder’s Warrants”). Each Finder’s Warrant entitles theholder to purchase a common share of the Company at a price of $0.50per share until December 20, 2023.
All securities issued under the Offering, includingcommon shares underlying the Finder’s Warrants, are subject to ahold period until April 21, 2022, in accordance with applicablesecurities legislation and the policies of the Canadian SecuritiesExchange.
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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