(TheNewswire)
Toronto – TheNewswire - September 1, 2023 – Nuinsco Resources Limited (“ Nuinsco ” or the“ Company ”) (CSE:NWI) today announced that, effective August 31, ithas closed a non-brokered private placementoffering in two tranches, issuing 17,887,500 units (each, a“ Unit ”) at a subscription price of $0.0064 per Unit foraggregate proceeds of $114,480 (the “ Offering ”).
Each Unit consisted of one common share of the Company (“ Common Share ”) andone-half of one warrant (each whole warrant a “ Warrant ”) . EachWarrant entitles the holder thereof to purchase one common share ofthe Company at an exercise price of $0.05 per share for a period of 36months from the issue date. Proceeds from the Offering will be used toadvance the Company’s Prairie Lake critical metals project locatednear Terrace Bay, Ont.
About Nuinsco ResourcesLimited
Nuinsco Resources has over 50 years of explorationsuccess and is a growth-oriented, multi-commodity mineralexploration and development company focused on prospectiveopportunities in Canada and internationally. Currently the Companyhas three properties in Ontario – the high-grade Sunbeam goldproperty near Atikokan currently optioned to First Class MetalsPLC , the large multi-commodity (phosphate, rareearth element, niobium, tantalum) Prairie Lake project nearMarathon-Terrace Bay, and the Zig Zag Lake property (lithium,tantalum) near Armstrong also optioned to First Class Metals PLC. Inaddition, Nuinsco has an agreement for gold exploitation at the El Sidproject in the Eastern Desert of Egypt.
Forward-LookingStatements
This news release contains certain"forward-looking statements." All statements, other thanstatements of historic fact, that address activities, events ordevelopments that Nuinsco believes, expects or anticipates will or mayoccur in the future are forward-looking statements. Forward-lookingstatements are often, but not always, identified by the use of wordssuch as "seek," "anticipate," "believe,""plan," "estimate, “expect," and"intend" and statements that an event or result"may," "will," "can,""should," "could," or "might" occur orbe achieved and other similar expressions. These forward-lookingstatements reflect the current expectations or beliefs of Nuinscobased on information currently available to Nuinsco. Forward-lookingstatements are subject to a number of risks and uncertainties that maycause the actual results of Nuinsco to differ materially from thosediscussed in the forward-looking statements, and even if such actualresults are realized or substantially realized, there can be noassurance that they will have the expected consequences to, or effectson Nuinsco. Factors that could cause actual results or events todiffer materially from current expectations include, among otherthings, failure to successfully complete financings, capital and othercosts varying significantly from estimates, production rates varyingfrom estimates, changes in world copper and/or gold markets, changesin equity markets, uncertainties relating to the availability andcosts of financing needed in the future, equipment failure, unexpectedgeological conditions, imprecision in resource estimates, success offuture development initiatives, competition, operating performance offacilities, environmental and safety risks, delays in obtaining orfailure to obtain tenure to properties and/or necessary permits andapprovals, and other development and operating risks. Anyforward-looking statement speaks only as of the date on which it ismade and, except as may be required by applicable securities laws,Nuinsco disclaims any intent or obligation to update anyforward-looking statement, whether as a result of new information,future events or results or otherwise. Although Nuinsco believes thatthe assumptions inherent in the forward-looking statements arereasonable, forward-looking statements are not guarantees of futureperformance and accordingly undue reliance should not be put on suchstatements due to the inherent uncertainty therein.
To learn more, please visit www.nuinsco.ca or contact: | ||||
Paul Jones, CEO | Sean Stokes, Executive VP | Cathy Hume, Consultant | Instagram: @nuinscoresources | |
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