Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T)(OTCQB:MARVF); ("Marvel" or the "Company") is pleased to announce that it has applied for the necessary permits to complete an inaugural diamond drilling program at the DD Zone within the KLR-Walker Uranium Project ("the Property") in the Athabasca Basin. The drill program will consist of 10 holes totaling 1,000m, the Company will report back on an estimated start date once all necessary permits are received
A list of drill holes is tabled below:
Table 1. Planned drill hole statistics for the KLR-Walker Uranium Project.
The objectives of the drill program will be to drill across structures at the DD Zone that have been featured by the recently completed airborne magnetic survey while utilizing previous backpack drill results to aid in vectoring drill hole targets. Structure hosting the DD Zone will investigated south towards the Highway Zone also (Figure 1).
Figure 1. Planned drill locations at the DD Zone over total magnetic intensity coincident with VTEM conductors and highlighted historical results on the KLR-Walker Uranium Project.
The DD Zone remains an area of high merit based on:
"We have made great progress in a short period of time planning our inaugural drill campaign on the KLR-Walker Uranium Project. The DD Zone represents a target area of the high merit and potential for success. After careful study, compilation, and interpretation, we have planned 10 drill holes to test favorable structurally related uranium, a key ingredient to the large uranium deposits of the Athabasca Basin. We look forward to organizing drill crews once the necessary drill permits are received," stated Karim Rayani President & Chief Executive Officer, Director.
Figure 2. Location of the KLR-Walker Uranium Project in the WMTZ Zone host to the highest-grade uranium deposits in the world.
The DD Zone is proximal and along strike to Fission 3.0 Hobo Lake uranium properties. Hosted within WMTZ, the DD Zone lies along the Key Lake Shear Zone and hosts 10 uranium showings and multiple unexplored EM targets (Figure 3).
Figure 3. Location of the DD Zone, neighbors, VTEM conductors, uranium occurrences along the Key Lake Shear Zone.
Like its neighbor to the west, the Arrow Deposit, owned by NexGen Energy lies along a similar structural corridor as the Marvel properties. The Arrow Deposit1, which has undergone a Positive Feasibility Study with robust economics contains Probable Reserves of 239.6 million lbs of U3O8 at an average of 2.37% U3O8 and Measured and Indicated Resources of 256.7 million lbs at an average grade of 3.1% U3O8. The Arrow Deposit is the largest undeveloped uranium deposit in Canada.
The technical content of this news release has been reviewed and approved by Mike Kilbourne, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
Arrow Deposit1 https://www.nexgenenergy.ca/rook-1-project/default.aspx#feasibility-study
Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:
The Company's website is: https://marveldiscovery.ca/
ON BEHALF OF THE BOARD
Marvel Discovery Corp. "Karim Rayani" Karim Rayani President/Chief Executive Officer, Director Tel: 604 716 0551 email: k@r7.capital
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Project diversity has become one of the resource industry’s best strategies for minimizing risks and maximizing exposure to exceptional discoveries associated with mineral exploration projects. Companies with a diversified portfolio covering battery metals, gold, energy and rare earths demonstrate that mining players don’t always have to put all their eggs in one basket.
Diversification across world-class mining countries like Canada presents even more exceptional economic upside. Investors can gain exposure from Ontario’s prolific multi-million-ounce gold camps while leveraging the country’s hottest iron and copper mines in Newfoundland. With the right company, operating a broad portfolio presents the best of all worlds.
One such company is Marvel Discovery (TSXV:MARV, Frankfurt:O4T1, OTCQB:MARVF), a Canadian mineral exploration company focused on generating, acquiring and exploring mineral opportunities across Canada. The company holds a robust project portfolio covering gold, nickel, PGE’s rare earth and battery metals.
The company’s projects host mineral richness across a wide spectrum of metals and leverage lengthy histories of mining and exploration in prolific jurisdictions, which many are seeing an exciting revitalization of.
Its outstanding gold project portfolio provides the company even more upside potential. Leveraging advantageous positioning in two of Canada’s hottest gold mining provinces, its Blackfly and Camping Lake properties in Ontario and Slip and Victoria Lake gold projects in Newfoundland pose exceptional exploration and high-grade gold mineralization opportunities.
Marvel Discovery’s flagship Blackfly gold property is located in the historic Atikokan district in Ontario. Blackfly is strategically positioned in one of the province’s earliest gold camps and in proximity to Agnico Eagle’s Hammond Reef gold deposit, which has an estimated open pit mineral reserves of 3.3 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold).
The Slip gold project is 10km west of New Found Gold’s (TSXV:NFG) Queensway project, which is “the largest ever consolidation of property within the Central Newfoundland Gold Belt.” Recent drill results at Queensway continue to demonstrate its potential to be a significant high-grade gold discovery. Historic work at Slip Gold indicate that both Queensway and Slip Gold are hosted in similar structural settings.
The Victoria Lake gold project in Newfoundland is also another one to highlight from Marvel Discovery’s portfolio. Historic work at Victoria Lake has indicated that it is hosted within similar structural settings to Marathon Gold’s (TSX:MOZ) Valentine Lake gold deposit, which is only 18 km away. Valentine Lake is poised to be the largest gold mine in Atlantic Canada. Preliminary grab samples from Victoria Lake ranged in value from 15.5 to 24.9 g/t gold and 18.6 g/t to 139.9 g/t silver.
Future plans for the company include the continued development of its flagship Blackfly and secondary Slip gold project. In May 2021, Marvel Discovery received its work permit issued by the Ontario Ministry of Northern Development and Mines for Blackfly and its 2021 exploration program is ongoing. First results have been reported, with 40 of the 78 samples returned assays greater than 100 ppb gold, and 7 samples graded from 1.00 g/t and up to 2.99 g/t gold.
The company also acquired a significant land position within the Hope Brook Area where it staked 763 claims (19,075 hectares) which are strategically located and contiguous to First Mining Gold and to Sokoman Minerals-Benton joint venture. The new land position is hosted within the Exploits Subzone of the central Newfoundland gold belt. The property is proximal to two major structures linked to significant gold prospects (Cape Ray, Matador Mining) and deposits (Hope Brook, First Mining) in southern Newfoundland.
Marvel Discovery’s six rare earth, nickel and uranium projects span across the entire country. This diverse spread of assets includes the Serpent River, Wicheeda North, Duhamel, Uranium City and Ungava & Overtime properties. The projects offer the company excellent exposure to Canada’s most prospective base and battery metal mining jurisdictions, including Ontario, British Columbia, Quebec and Saskatchewan.
The Blackfly gold property comprises 64 unpatented mining claims totaling 1,296 hectares near the historical Atikokan gold camp in Ontario, Canada. The property is located along and within the Marmion Lake fault zone, approximately 13.6 kilometers southwest along the strike of Agnico Eagle’s Hammond Reef gold deposit, which has an estimated 208 million tonnes grading 0.67 grams/tonne gold containing 4.5 million ounces of gold
Initial work documented by D.K. Burke in 1941 reported two gold vein shoots to the north and south of the property. The southern shoot averaged 11.9g/t gold over a thickness of 0.33 meters along a strike of 21.6 meters and the northern shoot averaged 13.44g/t gold over 0.27 meters within a 32-meter strike length.
The next step for the Blackfly gold project is to validate the 2012 drilling results through exploration. The first batch of 78 assay results from Blackfly were released in June 2021, and 40 of the 78 samples returned assays greater than 100 ppb gold.
The project presents exciting exploration potential as a high-grade system that has never been drilled to depth. Marvel has the option to earn 100 percent in the project subject to cash and exploration conditions.
The Slip Gold project spans approximately 3,700 hectares in the mining-friendly and resource-rich province of Newfoundland, Canada. The property leverages strategic positioning within the Exploits Subzone, a hotspot for a potential district-scale gold camp. Likewise, Slip Gold boasts similar structural settings to New Found Gold’s Queensway project and is tied to Marathon Gold, which is the northern Atlantic’s largest gold deposit hovering 4.6 million ounces.
The project hosts gold mineralization within altered intrusive rocks and quartz veins, historically sampling up to 44.5g/t gold at surface level. Additionally, Slip lies along a major regional structural thrust feature known as the Dog Bay Line and displays characteristics and gold values aligned with possible orogenic epizonal-type deposits. This unique geological profile warrants further exploration and development of the tremendous land package.
Marvel plans to begin exploration immediately and conduct the first phase of prospecting along the gold-bearing trends. The company plans to initiate soil and rock geochemistry and structural mapping to narrow down prospective grids for airborne magnetic and TDEM geophysical surveys and later drill targeting with the data collected.
The Serpent River project is located in Elliot Lake, Ontario and hosts a 20 million tonne uranium historical resource. This geological profile is consistent with high levels of chromium and nickel as well. With established mining companies nearby, the company is hopeful Serpent River will demonstrate similar high-quality mineralization and development opportunities.
Marvel has spent upwards of CAD$300,000 in VTEM surveying across the property’s six-kilometer-long and three-kilometer-wide anomaly. This unique Pecor anomaly is a strong regional magnetic high that has never been drilled at depth.
The Wicheeda North project is a rare earth elements property that spans 1,444 hectares of claims in the Cariboo mining division, British Columbia. The claim block adjoins the Defense Metals (TSXV:DEFN) Wicheeda rare earth mineral project hosts an indicated 4.9 million tonne rare earth deposit in Prince George, British Columbia.
Past exploration on the property includes airborne geophysical surveying from 2010, which successfully mapped Wicheeda’s magnetic and conductive geological properties across a 29.4 square kilometer area. The property remains highly prospective for Marvel.
For the past 15 years, Karim Rayani has focused on financing domestic and international mineral exploration and development. Most recently, Rayani was head of Bloomberry Capital Group, a Vancouver-based merchant bank and capital advisory firm. Prior, he worked independently as a management consultant and Financier. He is currently chair of R7 Capital Ventures Ltd; director of Fiber Crowne Manufacturing Inc., chair of District 1 Exploration Corp. Rayani has developed an extensive network of contacts throughout North America and Europe, focusing on Corporate Development and Finance.
Geoff Balderson has over 20 years of capital markets experience, having worked in public and private practice. Balderson is a senior officer and director of several TSX Venture listed companies and currently runs a private consulting practice Harmony Corporate Services Ltd., providing corporate advisory, accounting, filing and secretarial services to many publicly traded companies. Before, Balderson was an investment advisor at Union Securities and Georgia Pacific Securities and a University of British Columbia graduate in Marketing and Sales Management.
Gary Musil has more than 30 years of management and financial consulting experience and has served as an officer and director on numerous public companies since 1988. This experience has resulted in overseeing the financial aspects and expenditures on exploration projects in Peru, Chile, Eastern Europe, British Columbia, Ontario, Quebec, and New Brunswick (Canada). Prior, he was employed for 15 years with Dickenson Mines Ltd. and Kam-Kotia Mines Ltd. as a controller for the producing silver-lead-zinc mine in the interior of British Columbia, Canada.
Mark Luchinski holds degrees in Biochemistry & Microbiology from the University of Victoria and an Associates degree in Chemistry from Camosun College in British Columbia. Luchinski is an experienced board member, having served as an officer and director of many TSX Venture listed issuers. He is well versed in corporate governance, compliance and the administration of publicly traded companies.
Fraser Rieche has a BA in Economics and has 25 years of experience in international project management, logistics planning and corporate finance, having worked with resource-based industries and financial institutions worldwide. He has helped develop and finance mining projects in both North America and South America along with energy projects, oil and gas projects, fisheries projects and forestry projects in many different areas of the world.
TSXV:MARV)(Frankfurt:O4T)(OTCQB:MARVF); ("Marvel" or the "Company") is pleased to announce it has completed a structural interpretation of the high-resolution magnetic survey at the Gander East Project, Central Newfoundland. Several prominent shear and deformation zones have been identified that require follow-up prospecting, mapping, and soil sampling. Results of the boots on the ground campaign together with the favourable structural features will aid Marvel in targeting those areas of high merit for its inaugural Phase I drilling program
The Gander East Project consists of 274 claims totaling 6,850 hectares, which have been strategically positioned adjacent to New Found Gold's ("NFG") Queensway Project and along strike from both Exploits Discovery Middle Ridge Project and Sassy Resources Gander North Project (Figure 1). The Queensway Project is undergoing a 400,000 m drill campaign targeting 20 km of prospective strike along the regional scale Appleton and Dog Bay fault zones (Figure 2). NFG's most recent news release dated June 6, 2022, reported 9.12 g/t Au over 8.2 m and 42.6 g/t Au over 11.75 m beginning at only 8.8 m downhole. Parallel structures to those hosting gold in the Queensway and Middle Ridge project areas intersect the Gander East Project including a segment of the Gander River Ultrabasic Line (GRUB Line) that defines the easternmost bounding structure of the regionally prospective Exploits Subzone. Furthermore, the Gander East Project lies along strike to the south of a new regional gold trend defined by Sassy Resources as a part of their Gander North Project. The Structure is integral to the numerous gold occurrences and drill intersections within the Exploits Subzone.
Figure 1: Gander East Location Map Showing Strategic Location Adjacent to New Found Gold.
Figure 2: Gander East Location Map Showing Strategic Location and major fault positions.
The high-resolution magnetic survey was an extremely effective tool that enhanced the magnetic signature of the Property (Figure 3).
Figure 3: Contrast of regional government magnetic data left with magnetic signatures of a high-resolution magnetic survey right.
Other magnetic products from the high-resolution survey define and enhance the various rock types and structural features consistent with orogenic gold occurrences and deposits of the Exploits Subzone (Figure 4).
Figure 4: Magnetic inversions left aid in defining discrete magnetic units and structural features with increased amplitude effects right defining various rock types by their magnetic intensity.
As a result of the study of the magnetic products from the high-resolution survey, a major sigmoidal shear is interpreted through the central part of the property. Six areas of high merit will be targeted for follow-up prospecting, mapping, and soil sampling. These areas are deemed to have a high rate of success for orogenic gold mineralization based on known mineralization and alteration styles adjacent to the Property, folded and sheared sediment rocks, predominant shear zones, and numerous minor faults. (Figure 5).
Figure 5: Interpreted location of the predominant shear zone in the central part of the Property, left, and the 6 areas of interest targeted for follow-up exploration, right.
"The Gander East Project is a strategic land position for Marvel within the Central Newfoundland gold belt. The effectiveness of the high-resolution magnetic survey defines structural features that we know have been integral to the success of New Found Golds Queensway Project and the high-grade Keats Zone. Our robust magnetic dataset clearly enhances our structural and lithological understanding of the Property and vectors our next exploration phase to those areas of high merit for gold mineralization. Once the results of this next phase are received, Marvel will initiate an inaugural drill campaign", stated Karim Rayani, President & Chief Executive Officer, Director.
Mr. Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company.
Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:
The Company's website is: https://marveldiscovery.ca/
ON BEHALF OF THE BOARD Marvel Discovery Corp. "Karim Rayani" Karim Rayani President/Chief Executive Officer, Director Tel: 604 716 0551 email: k@r7.capital
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Conifex Timber (TSX:CFF) announces Q1 2022 results
Conifex Timber (CFF) reported results for the first quarter ended March 31, 2022. Conifex Timber Inc. is a Canada based forestry company. Conifex Timber opened trading at C$1.82 per share. Ken Shields, CEO of Conifex sat down with Folake Ekwubiri to highlight the results. For the full interview with Ken Shields and to learn more about Conifex Timber, click here
Siyata Mobile (NASDAQ:SYTA) delivers FirstNet ready SD7 devices
Siyata Mobile (SYTA) has announced that its SD7 ruggedized device is now certified and approved for use on FirstNet®. Siyata Mobile is a global B2B vendor of next-generation Push-to-Talk over Cellular (PoC) devices and cellular booster systems. Daniel Kim, VP of Corporate Development sat down with Folake Ekwubiri to discuss the news. For the full interview with Daniel Kim and to learn more about Siyata Mobile, click here WestCann Holdings (P.WCH) signs broker agreement for retail distribution across the U.S.
WestCann Holdings (WCH) has signed a brokerhttps://pr.report/NUE4SrW- agreement for the distribution of Laika brand hemp cigarettes in the U.S. Miami-based Cajun Cigar Czar, LLC will distribute WestCann's hemp-based tobacco replacement cigarettes in approximately 100 retail stores. Andreas Gedeon, CEO of WestCann sat down with Coreena Robertson to discuss the news. For the full interview with Andreas Gedeon and to learn more about WestCann Holdings, click here Marvel (TSXV:MARV) increases land position at Wicheeda Project
Marvel Discovery (MARV) has announced a Joint Venture agreement to expand its land position in the Rocky Mountain Rare Metal Belt. The company has a right to earn a 50 per cent interest in a 507-hectare claim block adjacent to the Wicheeda Project. Karim Rayani, President and CEO of Marvel Discovery sat down with Coreena Robertson to discuss the news. For the full interview with Karim Rayani and to learn more about Marvel, click here Trillion Energy (CSE:TCF) provides SASB drilling program update
Trillion Energy (TCF) has made significant advances in the SASB drilling program, scheduled to commence in July. Trillion Energy is an oil and gas company with multiple assets in Turkey and Bulgaria. Art Halleran, Trillion's CEO sat down with Coreena Robertson to discuss the news.
For the full interview with Art Halleran and to learn more about Trillion Energy, click here
Interviews for The Power Play by The Market Herald are released daily. To learn more about the companies featured in The Power Play or to explore our other interviews visit The Power Play by The Market Herald.
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Marvel Discovery Corp. (TSXV:MARV), (FRA:O4T1), (OTCQB:MARVF); ("Marvel", or the "Company") is pleased to announce a Joint Venture agreement to expand our land position within the Rocky Mountain Rare Metal Belt. The Company has the right to earn a 50% interest from a private company, Eagle Bay Resources, upon completion of at least 2 (two) drill holes. The 507 hectarehectare claim block is located immediately adjacent to the west of the Wicheeda Project of Defense Metals
Defense Metals has recently been expanding the value of their Wicheeda Project through deposit definition drilling. Recently announced results (April 21, 2022) include 3.81% TREO over 116.8 metres, including two separate higher-grade intervals averaging 4.33% TREO over 38.8 metres, and 4.87% TREO over 37.5 metres. (Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Marvel's Property.)
Karim Rayani, President and Chief Executive Officer, commented, "We are very excited with the current developments coming out of the Wicheeda Camp. Marvel is in a great position now as we control a sizeable area of influence, and we look forward to working with our new partner Eagle Bay Resources to explore this new territory."
The Defense Metals Wicheeda REE Property is located in the Foreland Belt of the Canadian Cordillera, within the structurally dominant NW-trending Rocky Mountain Trench. The Rocky Mountain Trench is recognized for the occurrence of several Paleozoic carbonatite-syenite intrusion-related complexes that were geologically deformed, tilted, and transported to the east in thrust panels. The REE-enriched carbonatites located on the Defense Metals property is part of a narrow, elongate, southeast-trending intrusive carbonatite-syenite complex utilizing a structural panel within sedimentary sequences of the Cambrian to Ordovician Kechika Group.
Carbonatite-related rocks are exceptionally rare, with less than 700 complexes known worldwide. They are a major host for rare metals (REE's), such as niobium and tantalum, and rare earth elements (REE's), and are also known to host economic concentrations of copper, goldgold, and other base metals. The world's largest niobium mine, Araxa in Brazil, and several of the world's largest-rare earth element deposits, including Lynas Corporation's Mt. Weld deposit in Australia and MP Material's Mountain Pass Deposit in the United States, are all hosted by carbonatites. Mineralization and REE deposits described above are not necessarily indicative of the mineralization on the Property.
Marvel's original Wicheeda North Property, consists of two mineral claims, which encompass 2023 ha. This new JV brings the company's total land holdings within the Wicheeda Rare Earth Metal Belt to 2530 ha covering a total of 4 claims.
The technical content of this news release has been reviewed and approved by Neil McCallum, P.Geo., of Dahrouge Geological Consulting Ltd., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:
The Company's website is: https://marveldiscovery.ca/
ON BEHALF OF THE BOARD
Marvel Discovery Corp. "Karim Rayani" Karim Rayani President/Chief Executive Officer, Director Tel: 604 716 0551 email: k@r7.capital
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T)(OTCQB:MARVF); (the "Company") is pleased to announce that it has closed the non-brokered private placement to raise a total of $401,500 by issuing 1,470,588 Flow-Through Units (the "FT") and issuing 1,044,828 Non Flow-Through Units (the "NFT
Each FT unit priced at $0.17 per unit will consists of one flow-through common share and one-half of one common share purchase warrant; each whole warrant ("Warrant") entitling the holder to subscribe for and purchase one non-flow-through common share ("Warrant Shares") at a price of $0.30 for a period of 24 months following the acceptance date. The shares and warrants are subject to a four-month hold (as per TSX Venture Exchange policy).
Each NFT unit priced at $0.145 per unit will consists of one common share and one common share purchase warrant; each warrant ("Warrant") entitling the holder to subscribe for and purchase one non-flow-through common share ("Warrant Shares") at a price of $0.25 for a period of 24 months following the acceptance date. The shares and warrants are subject to a four-month hold (as per TSX Venture Exchange policy).
The aggregate gross proceeds from the sale of the FT Offering will be used for exploration and development of the Company's British Columbia, Ontario, Quebec, and Newfoundland projects.
In total, Finders' fees totaling $15,000 will be paid in connection with the offering in accordance with the TSX Venture Exchange policies.
All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering, and payment of the Finders' fee are subject to the approval of the Exchange.
Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:
The Company's website is: https://marveldiscovery.ca/
ON BEHALF OF THE BOARD Marvel Discovery Corp. "Karim Rayani" Karim Rayani President/Chief Executive Officer, Director Tel: 604 716 0551 email: k@r7.capital
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T)(OTCQB:MARVF); (the "Company") is pleased to announce a non-brokered private placement to raise a total of $400,000 by issuing 1,470,588 Flow-Through Units (the "FT") and issuing 1,034,483 Non Flow-Through Units (the "NFT
Each FT unit priced at $0.17 per unit will consists of one flow-through common share and one-half of one common share purchase warrant; each whole warrant ("Warrant") entitling the holder to subscribe for and purchase one non-flow-through common share ("Warrant Shares") at a price of $0.30 for a period of 24 months following the acceptance date. The shares and warrants are subject to a four-month hold (as per TSX Venture Exchange policy).
Each NFT unit priced at $0.145 per unit will consists of one common share and one common share purchase warrant; each warrant ("Warrant") entitling the holder to subscribe for and purchase one non-flow-through common share ("Warrant Shares") at a price of $0.25 for a period of 24 months following the acceptance date. The shares and warrants are subject to a four-month hold (as per TSX Venture Exchange policy).
The aggregate gross proceeds from the sale of the FT Offering will be used for exploration and development of the Company's British Columbia, Ontario, Quebec, and Newfoundland projects.
A Finders' fees may be paid in connection with the Offering in accordance with the policies of the TSX Venture Exchange (the "Exchange").
All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering, and payment of the Finders' fee are subject to the approval of the Exchange.
Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:
The Company's website is: https://marveldiscovery.ca/
ON BEHALF OF THE BOARD Marvel Discovery Corp. "Karim Rayani" Karim Rayani President/Chief Executive Officer, Director Tel: 604 716 0551 email: k@r7.capital
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Jourdan Resources Inc. (TSXV: JOR; OTCQB: JORF, FRA:2JR1) (" Jourdan " or the " Company ") is pleased to announce that as a result of increased investor demand the Company is increasing its previously announced private placement financing (the " Initial Offering ") of common shares issued on a flow-through basis (the " Flow-Through Shares ") from up to 10,000,000 Flow-Through Shares to up to 14,000,000 Flow-Through Shares at a price of $0.10 per Flow-Through Share, for aggregate gross proceeds from the issuance of both units and Flow-Through Shares of up to $2.4 million (the " Upsized Offering "). For more information about the Initial Offering and details of the units to be issued thereunder, please see the Company's press release dated June 29, 2022, which is available under the Company's SEDAR profile at www.sedar.com.
Closing of the Upsized Offering is expected to occur by the end of July 2022. All securities issued in connection with the Upsized Offering will be subject to a statutory hold period of four-months and one day. Completion of the Upsized Offering is subject to a number of conditions, including without limitation, receipt of TSX Venture Exchange (" TSXV ") approval. Finder's fees may be paid to eligible finders in accordance with the policies of the TSXV consisting of a cash commission equal to up to 9% of the gross proceeds raised under the Upsized Offering and finder warrants (" Finder Warrants ") in an amount equal to up to 9% of the number of Units and Flow-Through Shares sold pursuant to the Upsized Offering. Each Finder Warrant will entitle the holder thereof to purchase one common share of the Company at a price of $0.10 per share for a period of 24 months following the closing date of the Upsized Offering. The Company intends to use the net proceeds from the issuance of the Units and the Flow-Through Shares for working capital and general corporate purposes and to fund exploration expenditures on its Vallee, Preissac-La Corne, and Baillargé lithium mining properties.
Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol "JOR" on the TSX Venture Exchange and "2JR1" on the Stuttgart Stock Exchange. The Company is focused on the acquisition, exploration, production, and development of mining properties. The Company's properties are in Quebec, Canada, primarily in the spodumene-bearing pegmatites of the La Corne Batholith, around North American Lithium's producing Quebec Lithium Mine.
www.jourdaninc.com Rene Bharti, Chief Executive Officer and President Email: info@jourdaninc.com Phone: (416) 861-5800
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Upsized Offering, including the Company's intended use of proceeds, closing conditions and timing and other matters relating thereto. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Jourdan to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although Jourdan has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Jourdan does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce the receipt of financing by way of a secured line of credit facility in the amount of up to USD$2 million (the "Line of Credit"). Proceeds from the Line of Credit will primarily be used to continue the development of the Company's RapidSXTM Rare Earth Element ("REE") Commercial Demonstration Plant ("Demo Plant"), currently scheduled for commissioning in Q4 of 2022, as detailed in the Company's July 12, 2022 news release.
The Line of Credit has been extended by Orca Holdings, LLC ("Orca"). In consideration for granting the Line of Credit and subject to the approval of the TSX Venture Exchange, two million warrants ("Warrants") will be issued to Orca, with each Warrant entitling Orca to acquire one common share of the Company at an exercise price of CAD$0.75 during a one-year term ending on July 20, 2023. On July 21, 2022, the Company applied to the TSXV for the exchange's approval of the issuance of the Warrants.
"Ucore is committed to its REE commercialization pathway and is very appreciative of Orca's continued financial support as we rapidly approach the commercial demonstration of our RapidSX™ technology through the Demo Plant," stated Pat Ryan, P.Eng., Ucore Chairman and CEO. "As noted in January 2022, Ucore is already working towards developing the funding required to build its first Strategic Metals Complex (SMC) primarily through non-dilutive funding sources. These include debt financing opportunities through government-supported loan programs and prospective advance payment & supply offtake agreements with Western electric vehicle manufacturers and other downstream customers of the SMCs."
Drawdowns on the Line of Credit will be available in multiples of USD$100,000 and carry interest at a rate of 9% per annum. All amounts owing under the Line of Credit will be repayable by maturity, which is six months from the execution date (January 20, 2023), unless such repayment is accelerated due to the Company's completion of additional financing on terms acceptable to the Company and the investor(s). The Line of Credit is secured by a General Security Agreement over the assets of the Company.
Orca is wholly owned by Mr. Randy Johnson, a member of Ucore's Board of Directors. The transaction is considered a related party transaction within the meaning of Multilateral Instrument 61-01 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transaction, nor the consideration paid, exceeds 25% of the value of the subject matter of the transaction, nor the consideration paid, exceeds 25% of the Company's market capitalization. No new insiders and no control persons were created in connection with the closing of the transaction. The transaction was reviewed and unanimously approved by the Company's Board of Directors. No special committee was created to negotiate, review and approve the Line of Credit agreement; rather, the agreement was negotiated by the Company with Mr. Johnson declaring his conflict and abstaining from the Board of Directors' deliberations. No cash consideration was paid pursuant to the extension of the Line of Credit, and no commissions or similar fees were paid to any person. This news release and the related material change report are being issued and filed on SEDAR less than 21 days before the date of the Line of Credit agreement and the expected closing of the issuance of the Warrants and the drawdown of the initial tranche from the Line of Credit since the Company was considering and reviewing financing alternates and the Company eventually selected the least dilutive and most current-shareholder-friendly financing transaction from the alternatives available, which was the Line of Credit, the terms of which were not settled and confirmed by Orca until July 20, 2022.
About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metals resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore has an effective 100% ownership stake in the Bokan-Dotson Ridge Rare Earth Element Project in Southeast Alaska, USA. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Through strategic partnerships, Ucore's vision includes disrupting the People's Republic of China's control of the US REE supply chain through the near-term development of heavy and light rare-earth processing facilities - including the Alaska Strategic Metals Complex in Southeast Alaska and the long-term development of Ucore's heavy-rare-earth-element mineral-resource property located at Bokan Mountain on Prince of Wales Island, Alaska.
Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."
For further information, please visit www.ucore.com.
IMC developed the RapidSX separation technology with early-stage assistance from the United States Department of Defense ("US DoD"), later resulting in the production of commercial-grade, separated rare-earth oxides at the pilot scale. RapidSX combines the time-proven chemistry of conventional solvent extraction ("SX") with a new column-based platform, which significantly reduces time to completion and plant footprint, as well as potentially lowering capital and operating costs. SX is the international rare-earth-element ("REE") industry's standard commercial separation technology and is currently used by 100% of all REE producers worldwide for bulk commercial separation of both heavy and light REEs. Utilizing similar chemistry to conventional SX, RapidSX is not a "new" technology but represents a significant improvement on the well-established, well-understood, proven conventional SX separation technology preferred by REE producers.
This press release includes certain statements that may be deemed "forward-looking statements." All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, events, approvals or developments that the Company is pursuing, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results, and actual results or developments may differ materially from those in forward-looking statements.
Regarding the disclosure in the "About Ucore Rare Metals Inc." section above, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future Strategic Metals Complex ("SMC"). Ucore has also assumed that sufficient external funding will be found to prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Elements project ("Bokan") is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMC and its construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMC; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMC and/or the continued development of RapidSX; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan and/or the SMC; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.
Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.
Mark MacDonald Vice President, Investor Relations Ucore Rare Metals Inc. 1.902.482.5214 mark@ucore.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131533
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Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Metals & Mining Virtual Investor Conference to be held on Wednesday, July 27 th and Thursday, July 28 th .
Individual investors, institutional investors, advisors, and analysts are invited to attend this two-day virtual event showcasing live company presentations discussing their property positions, development schedules, market opportunity and investment highlights.
REGISTER NOW AT : https://bit.ly/3ocFpdy It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations and schedule 1x1 meetings with management.
"We are excited to host the upcoming two-day Metals and Mining Virtual Investor Conference, in conjunction with our newest sponsor Socialsuite," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. This event will feature more than 25 companies in the space as well as a keynote presentation from Seth Forman, President of Socialsuite, entitled: "ESG for Metals & Mining: How to get started fast."
"We're excited to participate in the Metals and Mining Virtual Investor Conference. Starting the ESG journey can be challenging for small to mid cap companies and we want to help them navigate those challenges in a sustainable, yet efficient way, said Seth Forman President of ESG at Socialsuite. I look forward to sharing the lessons our customers have learnt and how Socialsuite can help companies get started with ESG, fast."
To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com .
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
Media Contact: OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com
Virtual Investor Conferences Contact: John M. Viglotti SVP Corporate Services, Investor Access OTC Markets Group (212) 220-2221 johnv@otcmarkets.com
News Provided by GlobeNewswire via QuoteMedia
Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Metals & Mining Virtual Investor Conference to be held on Wednesday, July 27 th and Thursday, July 28 th .
Individual investors, institutional investors, advisors, and analysts are invited to attend this two-day virtual event showcasing live company presentations discussing their property positions, development schedules, market opportunity and investment highlights.
REGISTER NOW AT : https://bit.ly/3ocFpdy It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations and schedule 1x1 meetings with management.
"We are excited to host the upcoming two-day Metals and Mining Virtual Investor Conference, in conjunction with our newest sponsor Socialsuite," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. This event will feature more than 25 companies in the space as well as a keynote presentation from Seth Forman, President of Socialsuite, entitled: "ESG for Metals & Mining: How to get started fast."
"We're excited to participate in the Metals and Mining Virtual Investor Conference. Starting the ESG journey can be challenging for small to mid cap companies and we want to help them navigate those challenges in a sustainable, yet efficient way, said Seth Forman President of ESG at Socialsuite. I look forward to sharing the lessons our customers have learnt and how Socialsuite can help companies get started with ESG, fast."
To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com .
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
Media Contact: OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com
Virtual Investor Conferences Contact: John M. Viglotti SVP Corporate Services, Investor Access OTC Markets Group (212) 220-2221 johnv@otcmarkets.com
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TinOne Resources Inc. (TSXV: TORC) (" TinOne " or the " Company ") announces amended terms to its non-brokered private placement financing (the " Financing "), previously announced on July 12 2022. Given current market conditions, the Company has made a decision to amend the purchase price to C$0.10 per Unit (the " Unit "). Each Unit is comprised of one common share of the Company and one common share purchase warrant (the " Warrant ") of the Company. Each Warrant will entitle the holder to purchase one common share of the Company at an exercise price of C$0.20 for a period of 36 months following the closing date of the Financing.
In connection with the Financing, the Company may pay finder's fees up to 6% cash and up to 6% in finder's warrants to eligible finders. Closing of the Financing is subject to receipt of all necessary approvals, including that of the Board of Directors and the TSX Venture Exchange. All securities issued in connection with the Financing will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation in Canada .
The subscription by insiders pursuant to the Financing is considered to be a related party transaction subject to Multilateral Instrument 61-101. The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101 on the basis that participation in the private placement by insiders will not exceed 25% of the fair market value of the Company's market capitalization.
Proceeds from the Financing will be used for exploration and working capital purposes.
TinOne is a TSX Venture Exchange listed Canadian public company with a high-quality portfolio of tin projects in the Tier 1 mining jurisdictions of Tasmania and New South Wales, Australia . The Company is focused on advancing its highly prospective portfolio while also evaluating additional tin opportunities. TinOne is supported by Inventa Capital Corp.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain "Forward‐Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward‐looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward‐looking statements or information. These forward‐looking statements or information relate to, among other things: the development of the Company's projects, including drilling programs and mobilization of drill rigs; future mineral exploration, development and production; the release of drilling results; and completion of a drilling program.
Forward‐looking statements and forward‐looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of TinOne, future growth potential for TinOne and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of gold and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; TinOne's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect TinOne's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward‐looking statements or forward-looking information and TinOne has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on early stage mineral projects; metal price volatility; risks associated with the conduct of the Company's mining activities in Australia ; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities and artisanal miners; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in TinOne's management discussion and analysis. Readers are cautioned against attributing undue certainty to forward‐looking statements or forward-looking information. Although TinOne has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. TinOne does not intend, and does not assume any obligation, to update these forward‐looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
View original content: http://www.newswire.ca/en/releases/archive/July2022/21/c3368.html
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Argentina Lithium & Energy Corp. (TSX-V: LIT) (FSE: OAY3) (OTC: PNXLF) ("Argentina Lithium" or the "Company") is pleased to announce that it has won the public tender to purchase 100% interest of the Rinconcita II mining concession area (" Rinconcita II " or the " Property ") located on the Salar de Rincon in Salta Province Argentina from provincially-owned company Recursos Energéticos y Mineros Salta S.A. (" REMSA "). The Property consists of 460.5 ha of salt flat, located adjacent to and east of Argentina Lithium's Rincon West property, and located adjacent to and west of Rincon Mining's Rincon Project, which was purchased by Rio Tinto earlier this year.
"Our team identified the Salar de Rincon as an area of exceptional potential in 2021, leading to our initial property acquisition at Rincon West. Our positive drill results announced on July 13, 2022 have validated this confidence. The acquisition of Rinconcita II is a major step to add prime salt flat holdings to one of our leading projects. Our management team is looking forward to working with the Province to advance this project through exploration to assess its resource and production potential," stated Nikolaos Cacos , President and CEO.
The Salar de Rincon is located within the Lithium Triangle of northwest Argentina . Historic work on the salt flat has determined that this is a mature salar with potential for lithium and potash resources. The Rinconcita II concession is road accessible from the local towns of Olacapato and Estacion de Pocitos. An international highway and major electrical power corridor are located 26 km northeast of the Property. A railhead and natural gas pipeline are located 34 km southeast of the property.
There has been no significant historical exploration work on the Rinconcita II property. The Property was not sampled by Argentina Lithium prior to the bidding process, although Argentina Lithium is currently drilling on its adjacent optioned property at Rincon West (see Figure 1 map, mining concession Villanoveño II ). Argentina Lithium has also acquired the additional mining concession Demasia Villanoveño II (20.5 ha) through applications presented at the Salta mining authority.
To ensure that the Company has sufficient funds to complete the acquisition and for working capital, Argentina Lithium also announces a part and parcel non-brokered private placement financing of up to 12,500,000 units at a price of $0.20 per unit (the " Units ") for gross proceeds of $2,500,000 .
Each Unit will consist of one common share and one transferrable common share purchase warrant (a " Warrant "). Each Warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.38 per share for two (2) years from the date of issue.
This financing is subject to TSX Venture Exchange (" TSXV ") acceptance and all securities to be issued pursuant to the financing are subject to a four-month hold period under applicable Canadian securities laws. Directors, officers and employees of the Company may participate in a portion of the financing. A commission may be paid on a portion of the financing. The proceeds of the financing will be used in part to complete the acquisition. The balance will be used for general working capital and exploration on its properties in Argentina .
The acquisition of the property is also subject to TSXV acceptance.
David Terry , Ph.D., P.Geo. is the Company's Qualified Person as defined in National Instrument 43-101. The contents of this news release have been reviewed and approved by Dr. Terry.
Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them toward production in order to meet the growing global demand from the battery sector. The management group has a long history of success in the resource sector of Argentina and has assembled a first-rate team of experts to acquire and advance the best lithium properties in the "Lithium Triangle". The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
Nikolaos Cacos, President, CEO and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's plans for its mineral properties; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and future exploration and operating plans are forward-looking statements.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the impact of COVID-19; risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States .
View original content to download multimedia: https://www.prnewswire.com/news-releases/argentina-lithium-expands-salt-flat-holdings-at-salar-de-rincon-301590709.html
SOURCE Argentina Lithium & Energy Corp.
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