(TheNewswire)
Vancouver, British Columbia – TheNewswire - July 21, 2022: Inflection Resources Ltd. (CSE:AUCU ) ( OTC:AUCUF ) ( FSE:5VJ) (the "Company" or"Inflection") is pleased to announce a non-brokered privateplacement to raise gross proceeds of up to $1,500,000 (the"Offering") through the sale of up to 15,000,000 units (the"Units") priced at $0.10 per Unit. Each Unit consists ofone common share and one share purchase warrant, with each warrantexercisable into one further common share at a price of $0.15 for aterm of two years.
Crescat Portfolio Management LLC ("Crescat")has agreed to increase the size of its existing investment inInflection with a subscription in the Offering of $560,000. Uponcompletion of the proposed Offering, Crescat’s ownership position inthe Company will increase from its current 2.38% interest toapproximately 8.46% interest (approximately 14.76% interest partiallydiluted). Additionally, Crescat will retain the right to participatein future financings to maintain its proportionate interest in theCompany.
The proceeds from the Offering will be used for furtherdrilling at the Company’s Northern New South Wales explorationproject in Australia, and for general working capital. Funds willspecifically be used to further drill test the Duck Creek target wherethe Company recently intersected strong porphyry-style alteration (see news release dated June13, 2022 ).
Finders’ fees may be payable in connection with theOffering in accordance with the policies and subject to the approvalof the Canadian Securities Exchange ("CSE"). Thesecurities issued pursuant to the Offering will be subject to a fourmonth and one day statutory hold period. The Offering is subject tothe approval of the CSE.
Directors and officers of the Company will 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 Resources
Inflection Resources Ltd. (CSE: AUCU, OTCQB: AUCUF,FSE: 5VJ) is a technically-driven, discovery-focused copper-goldmineral exploration company with projects in Eastern Australia whereit is systematically drill testing a large portfolio of projects inNew South Wales.
The Company is exploring for large gold and copper-golddeposits in the northern interpreted extension of the Macquarie Arc,part of the Lachlan Fold Belt in New South Wales. The Macquarie Arcis Australia's premier porphyry gold-copper province being host toNewcrest Mining's Cadia deposits, the CMOC Northparkes deposits andEvolution Mining's Cowal deposits plus numerous exploration prospectsincluding Boda, the recent discovery made by Alkane Resources.
For more information, please visit the Company'swebsite at www.inflectionresources.com .
About Crescat Portfolio ManagementLLC
Crescat is a global macro asset management firmheadquartered in Denver, Colorado. Crescat's mission is to grow andprotect wealth over the long term by deploying tactical investmentthemes based on proprietary value-driven equity and macro models. Crescat's goal is industry leading absolute and risk-adjustedreturns over complete business cycles with low correlation to commonbenchmarks. Crescat's investment process involves a mix of assetclasses and strategies to assist with each client's unique needs andobjectives and includes Global Macro, Long/Short and Precious Metalsfunds.
Qualified Person
The scientific and technical information contained inthis news release has been reviewed and approved by Mr. Carl Swensson(FAusIMM), a “Qualified Person” (“QP”) as defined in NationalInstrument 43- 101 – Standards of Disclosure for MineralProjects.
On Behalf of the Board ofDirectors
"Alistair Waddell"
President and CEO
For further information, pleasecontact:
Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016
Neither the Canadian Securities Exchange nor itsRegulation Services Provider accepts responsibility for the adequacyor accuracy of this release.
Forward-Looking Statements:
This news release includes certain forward-lookingstatements and forward-looking information (together,“forward-looking statements”). All statements other thanstatements of historical fact included in this release, including,without limitation, statements regarding t he Offering, the use of proceedsfrom the Offering , other future plans andobjectives of the Company are forward-looking statements. There can beno assurance that such statements will prove to be accurate and actualresults and future events may vary from those anticipated in suchstatements. Important risk factors that could cause actual results todiffer materially from the Company's plans or expectations include failure to obtainCSE acceptance of the Offering, inability to use of proceeds from theOffering as expected, failure to raise sufficient funds on theproposed terms or at all , and risks associatedwith mineral exploration, including the risk that actual results andtiming of exploration and development will be different from thoseexpected by management . The forward-looking statements inthis news release were developed based on the assumptions andexpectations of management, including that CSE acceptance for theOffering will be obtained, the Company will be able to use theproceeds from the Offering as anticipated, required fundraising willbe completed, as well as the other assumptions disclosed in this newsrelease and that the risks described above will not materialize. TheCompany expressly disclaims any intention or obligation to update orrevise any forward-looking statements whether as a result of newinformation, future events or otherwise, except as otherwise requiredby applicable securities legislation.
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.
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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