(TheNewswire)
Vancouver, British Columbia – TheNewswire - Au gust 10, 2022: Inflection Resources Ltd. (CSE:AUCU ), ( OTC:AUCUF ), ( FSE:5VJ) (the"Company" or "Inflection") is pleased to announcethat further to its news release of July 21, 2022, the Company hascompleted a non-brokered private placement (the “Offering”) withlead order from Crescat Capital, to raise gross proceeds of $1,647,500through the sale of 16,475,000 units (the “Units”) priced at $0.10per Unit. Each Unit consists of one common share and one sharepurchase warrant, with each warrant exercisable into one furthercommon share at a price of $0.15 for a term of two years.
Alistair Waddell, President and CEO of InflectionResources, commented: “ I wouldlike to thank the existing Inflection shareholders for their continuedsupport through participation in this financing. With the financingnow closed, the Company will continue to drill test the Duck Creek targetwhere the Company recently discovered strong porphyry-stylealteration aswell as further advance the large portfolio of 100% owned copper-goldporphyry targets in New South Wales ”.
Quinton Hennigh, technical advisor to Crescat,commented: " We like to invest money into companieswith excellent technical teams exploring for exceptional deposits. Inflection is a perfect example. The Northern NSW project haspotential to deliver a world-class discovery and Inflection’stechnical team is employing best practices to make ithappen. "
The proceeds from the Offering will be used for furtherdrilling in New South Wales and for general working capital. Fundswill specifically be used to drill additional exploration holes intothe Duck Creek target to follow-up on favourable porphyry stylealteration ( see news release datedJune 13, 2022 ).
Insiders of the Company purchased a total of 6,200,000Units. The participation by Insiders in the Offering constitutes a“related party transaction” for the purposes of MultilateralInstrument 61-101, Protectionof Minority Security Holders in Special Transactions . The Company is relying upon exemptions from therequirement to obtain a formal valuation and seek minority shareholderapproval for the Offering on the basis that the fair market value ofthe participation by related parties in the Offering is less than 25%of the Company’s current market capitalization.
Finders’ fees of $25,025 were paid on a portion ofthe Offering. All securities issued are restricted from tradinguntil December 11, 2022.
About Inflection Resources
Inflection Resources Ltd. (CSE: AUCU, OTCQB: AUCUF,FSE: 5VJ) is a technically-driven, discovery-focused mineralexploration company with projects in Eastern Australia where it issystematically drill testing a large portfolio of copper-gold projectsin New 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 explorationprospects.
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 absoluteand risk-adjusted returns over complete business cycles with lowcorrelation to common benchmarks. Crescat's investment processinvolves a mix of asset classes and strategies to assist with eachclient's unique needs and objectives and includes Global Macro,Long/Short and Precious Metals funds.
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 therisk that actual results and timing of exploration and developmentwill be different from those expected by management . Readers are cautioned not to place undue reliance onforward-looking statements. The Companyexpressly disclaims any intention or obligation to update or reviseany forward-looking statements whether as a result of new information,future events or otherwise, except as otherwise required by law.
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