(TheNewswire)
Vancouver, British Columbia – TheNewswire - July 26, 2023 : Inflection Resources Ltd.(CSE:AUCU ) ( OTC:AUCUF ) ( FSE:5VJ) (the "Company" or"Inflection") is pleased to announcethat it proposes to undertake a non-brokered private placement (the“Offering”) to raise gross proceeds of up to $1,500,000 throughthe sale of up to 6,000,000 units (each, a “Unit”) of the Companyat a price of $0.25 per Unit. Each Unit consists of one common shareand one-half of a share purchase warrant, with each whole warrantexercisable into one further common share at a price of $0.40 for aterm of 18 months. All securities issued will be subject to astatutory hold period of four months and one day.
The proceeds from the Offering will be used forexploration activities at the Company’s Northern New South Wales andCarron projects in Australia and for general working capital.
Finders’ fees may be paid in connection with theOffering in accordance with the policies of the Canadian SecuritiesExchange (the “CSE”). The Offering is subject to the approval ofthe CSE.
Directors and officers of the Company may acquiresecurities under the Offering, which will be considered a"related party transaction" as defined under MultilateralInstrument 61-101 ("MI 61-101"). Such participation isexpected to be exempt from the formal valuation and minorityshareholder approval requirements of MI 61-101.
The offered securities have not been, nor will they be,registered under the United States Securities Act of 1933, as amended(the "Securities Act") or any state securities laws and maynot be offered or sold to, or for the account or benefit of, anyperson in the United States or any "U.S person", as suchterm is defined in Regulation S under the Securities Act, absentregistration or an applicable exemption from registrationrequirements. Offers and sales in the United States will be limitedto institutional accredited investors and qualified institutionalbuyers. This press release shall not constitute an offer to sell orthe solicitation of an offer to buy nor shall there be any sale of thesecurities in any state in which such offer, solicitation or salewould be unlawful.
About Inflection ResourcesLtd. Inflection is a technically drivencopper-gold and gold focused mineral exploration company listed on theCanadian Securities Exchange under the symbol “AUCU” and on theOTCQB under the symbol “AUCUF” with projects in Australia. TheCompany has entered into an exploration agreement with AngloGoldAshanti and has recently commenced a drill program in New South Walesanticipated to comprise of approximately 35,000 metres of drilling. For more information, please visit the Companywebsite at www.inflectionresources.com .
On behalf of the Board ofDirectors
Alistair Waddell
President and CEO
alistair@inflectionresources.com
For further information, pleasecontact:
Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016
Forward-Looking Statements: This news release includes certainforward-looking statements and forward-looking information(collectively, "forward-looking statements") within themeaning of applicable Canadian securities legislation. Although theCompany believes that such statements are reasonable, it can give noassurance that such expectations will prove to be correct. Often, butnot always, forward looking information can be identified by wordssuch as "pro forma", "plans", "expects","may", "should", "budget","scheduled", "estimates", "forecasts","intends", "anticipates", "believes","potential" or variations of such words including negativevariations thereof, and phrases that refer to certain actions, eventsor results that may, could, would, might or will occur or be taken orachieved. Forward-looking statements involve known and unknown risks,uncertainties and other factors which may cause the actual results,performance or achievements of the Company to differ materially fromany future results, performance or achievements expressed or impliedby the forward-looking statements.
Readers are cautioned not to place undue reliance onforward-looking statements. The Company undertakes no obligation toupdate any of the forward-looking statements, except as otherwiserequired by law. The Company seeks safe harbor.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FORDISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THISRESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
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