(TheNewswire)
Vancouver, B.C. - TheNewswire - December 24, 2020 - Cache Exploration Inc.(the “Company”, or “Cache”) , (TSXV:CAY) (OTC:CEXPF) , is pleased to announce, further to its press releases of November 4, 2020,November 29, 2020 and December 4, 2020 that it has closed thefinal tranche of the non-brokered private placement of units (each, a “ Unit ”) of theCompany at a price of $0.12 per Unit (the “ Private Placement ”). At this closing, the Company issued an aggregate of10,887,419 Units for gross proceeds of$1,306,490.28
Each Unit consisted of one common share and one commonshare purchase warrant (each, a “ Warrant ”). Each W arrant entitles the holder to purchase one additional common share at an exercise price of$0.20 per share for a period of 24 months from the date of closing.All of the securities issued in connection with the final closing ofthe Private Placement are subject to a statutory four-month holdexpiring on April 24, 2021.
In connection with the final closing of the Private Placement, the Company paid cash finders’ fees in theamount of $26,880 and issued a total of 224,000 finder’s warrants(the “ Finder’sWarrants ”). The Finder’s warrants have thesame terms as the Warrants issued under the Private Placement, but arenon-transferable.
The Company intends to use the net proceeds of the Private Placement to fund exploration on the Kiyuk Lake Property, for current liabilities and for general working capital purposes. ThePrivate Placement is subject to final acceptance by the TSX VentureExchange upon filing of final documentation.
One insider of the Company subscribed for a total of900,000 Units in connection with the Private Placement. Suchparticipation is considered to be a “related party transaction” asdefined under Multilateral Instrument 61-101 (“ MI 61-101 ”). Thetransaction was exempt from the formal valuation and minorityshareholder approval requirements of MI 61-101, as neither the fairmarket value of any securities issued to nor the consideration paid bysuch persons exceeded 25% of the Company’s marketcapitalization.
On behalf o f the Board o f Di re c tors
C a c he Ex p l orat i on I n c .
“ JackBal ”
Jack Bal
FOR MORE INFORMATION, PLEASECONTACT :
Tel. 604-306-5285
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
This news release does not constitute an offer to sellor a solicitation of an offer to sell any of the securities in theUnited States. The securities have not been and will not beregistered under the United States Securities Act of 1933, as amended(the “ U.S. SecuritiesAct ”) or any state securities laws and may notbe offered or sold within the United States or to U.S. Persons unlessregistered under the U.S. Securities Act and applicable statesecurities laws or an exemption from such registration isavailable.
Forward-Looking Information
This news release contains certain forward-lookingstatements within the meaning of Canadian securities laws, includingstatements regarding the use of proceeds from the Private Placementand the availability of capital and finance for Cache to execute itsstrategy going forward. Forward-looking statements are based onestimates and assumptions made by Cache in light of its experience andperception of current and expected future developments, as well asother factors that Cache believes are appropriate in thecircumstances. Many factors could cause Cache’s results, performanceor achievements to differ materially from those expressed or impliedby the forward looking statements, including: discrepancies betweenactual and estimated results from exploration and development andoperating risks, dependence on early exploration stage concessions;uninsurable risks; competition; regulatory restrictions, includingenvironmental regulatory restrictions and liability; currencyfluctuations; defective title to mineral claims or property anddependence on key employees. Forward-looking statements are based onthe expectations and opinions of the Company’s management on thedate the statements are made. The assumptions used in the preparationof such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaimsany intention or obligation to update or revise any forward-lookingstatements whether as a result of new information, future events orotherwise.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWSRELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OFTHIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCHDATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKINGINFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHERDATE. WHILE THE COMPANY MAY ELECT TO, IT DOESNOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPTAS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.
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