(TheNewswire)
Toronto, Ontario - (TheNewswire –April 1 9 , 2024) - Loyalist ExplorationLimited
(CSE: PNGC) ("Loyalist" orthe "Company") announces that it hasamended its proposed non-brokered private placement financing of up to15,000,000 common shares (the “Shares”) ofthe Company at a price of $0.01 per Share for proceeds of up to$150,000 (the “Offering”)(See press release dated April 12, 2024).The Offering is amended to lower the price per Share to $0.005 andincrease the number of Shares to 30,000,000. TheCanadian Securities Exchange (the “CSE”) has exempted the Companyfrom pricing requirements in the CSE policy. This exemption has been authorized on a onetime only basis,and the Offering will not be extended. The proceeds of the Offeringwill be used for working capital and general andadministrative purposes.
In connection with the Offering, the Company may payfinder’s fees equal to 7% of the gross proceeds in cash and issuenon-transferable warrants (the “Finder Warrants”) to variousregistered dealers or finders, equal to 7% of the Shares sold throughsuch registered dealers or finders in the Offering . Each Finder Warrant will entitlethe holder thereof to purchase one (1) Loyalist common share at aprice of $0.05 per share for a period of thirty-six (36) months fromthe closing date of the Offering.
The Private Placement will be conducted in relianceupon certain exemptions from the prospectus requirements set out in NI45-106.
The Shares issued in connection with the PrivatePlacement are subject to a hold period expiring four months and oneday from the issuance of the securities comprising theOffering.
About Loyalist ExplorationLimited
Loyalist Exploration Limited is a mineral explorationcompany focused on acquiring, exploring,
and developing quality mineral properties in Canada.
For further information please visitthe Company's website at loyalistexp.ca or contact:
Loyalist Exploration Limited
Loyalist Exploration Limited
Errol Farr, President and CEO
Email: efarr001@icloud.com
Tel: 647-296-1270
Neither theCanadian Securities Exchange nor its Market Regulator (as that term isdefined in the policies of the Canadian Securities Exchange) havereviewed or accept responsibility for the adequacy or accuracy of thisrelease.
This news release contains "forward-lookinginformation" (within the meaning of applicable Canadiansecurities laws) and "forward-looking statements" (withinthe meaning of the U.S. Private Securities Litigation Reform Act of1995). Such statements or information are identified with words suchas "anticipate", "believe", "expect","plan", "intend", "potential","estimate", "propose","project", "outlook", "foresee" orsimilar words suggesting future outcomes or statements regarding anoutlook.
Although the Company believes that the expectationsreflected in the forward-looking information or statements arereasonable, prospective investors in the Company’s securities shouldnot place undue reliance on forward-looking statements because theCompany can provide no assurance that such expectations will prove tobe correct. Forward- looking information and statements contained inthis news release are as of the date of this news release and theCompany assumes no obligation to update or revise this forward-lookinginformation and statements except as required by law.
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