79 Resources Ltd. Closes Financing
Vancouver, British Columbia – March 19, 2021 – 79 Resources Ltd. (CSE: SNR) ("79 Resources " or the “Company”) is pleased to announce that further to its press release dated February 19th, 2020 the Company has closed the non-brokered private placement. The Company issued 4,180,000 common share units (the "Units") at a price of $0.12 per Unit for aggregate gross proceeds of $501,600.00.
Each Unit is comprised of one common share (a "Share") and one transferable Share purchase warrant (a "Warrant") of the Company. Each Warrant will entitle the holder to purchase one Share (a “Warrant Share”) at a price of $0.20 per Warrant Share for a 24 month period. The shares and warrants comprising the units are subject to a 4 month hold period expiring July 20th, 2021.
Finders’ fees of $31,200 and 260,000 finder’s warrants were paid to arm’s length parties. Finder’s warrants entitle the Finder to purchase one common share in the Company at a price of $0.20 for a period of 24 months from the date of closing.
Proceeds raised from the Offering will be used for general working capital and to further the Company’s Louise Lake property in British Columbia and the newly acquired Lac Saint Simon Lithium property, located in Quebec.
About 79 Resources Ltd.
79 Resources is a recently formed junior mining exploration company. Its objective is to acquire, explore and develop precious and base metal properties of merit.
ON BEHALF OF THE BOARD
“Steven Feldman”
Steven Feldman Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Tel. 1-604-683-3995 Toll Free. 1-888-845-4770
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward- looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).