(TheNewswire)
Vancouver, British Columbia - TheNewswire - April 2 7 th , 2021 - Exploits Discovery Corp.(“Exploits” or the “Company”) (C NSX :NFLD. CN ) (OTC: NFLDF ) (FSE:634-FF) is pleased toannounce a non-brokered private placement of$4,100,000 consisting of 8,200,000 units (the “Units”) at a priceof $0.50 per Unit (the “Private Placement”).
The entire Private Placement is being fully subscribedand invested into by Mr. Eric Sprott. Upon completion of thefinancing, Eric Sprott will hold 9.81% on a non-diluted basis and14.45% on a fully diluted basis.
Michael Collins, President, CEO & Director stated“I am pleased to welcome Mr. Sprott as a shareholder of ExploitsDiscovery Corp. Mr. Sprott’s participation is a validation of ourland, team and exploration strategy. This funding will allow us toexpand and aggressively chase both our current drill targets, and thedevelopment of new targets on the 200+ km of deep seated gold bearingstructures on our Exploits Subzone claims.”
Each Unit consists of one common share (“CommonShare”) and one common share purchase warrant (“Warrant”). EachWarrant entitles the holder to acquire one Common Share at an exerciseprice of $0.67 for a period of 24 months immediately following theclosing date of the Private Placement.
A finder’s fee of 3% of the gross proceeds of thePrivate Placement, will be paid to Raymond James Ltd. who are anarms-length finder and is payable in cash.
The proceeds from the Units will be used forexploration on the Company’s properties, acquisition of additionalproperties, marketing and general working capital.
All securities to be issued pursuant to the PrivatePlacement will be subject to a four month hold period from the closingdate under applicable securities laws in Canada and among otherthings, receipt by Exploits of all necessary regulatory approvals,including the Canadian Stock Exchange.
The securities being offered under the PrivatePlacement have not been, nor will they be registered under the UnitedStates Securities Act of 1933, as amended, or state securities lawsand may not be offered or sold within the United States or to, or forthe account or benefit of, U.S. persons absent U.S. federal and stateregistration or an applicable exemption from the U.S. registrationrequirements. This release does not constitute an offer for sale ofsecurities in the United States.
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 approximately2,11 5 squarekilometres.
All projects within Exploits’ portfolio lie withinthe Exploits Subzone.
The Company believes that theExploits Subzone, which runs 200 km 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 discovery such as NewFound Gold's 2019 discovery of 92.86 g/t Au over 19.0 metres nearsurface. The Exploits Subzone and GRUB regions have been the focus ofmajor staking and financing throughout 2020, with increasedexploration activities forecasted in the area moving into2021.
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: ( 778 ) 819 -270 8
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.
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