37 Capital announces private placement update
NEWS RELEASE
Symbols: JJJ.X - CSE HHHEF – OTC Pink
37 Capital announces private placements update
VANCOUVER, BRITISH COLUMBIA. September 21, 2022. 37 Capital Inc. (the “Company” or “37 Capital”) announces that further to the Company’s news release dated August 8, 2022, the Company has received an extension from the CSE for closing of the private placements by October 17, 2022. Furthermore, the Company has closed the first tranche of the non-brokered private placement financing (the “Private Placement Financing”) for gross proceeds of $10,000 through the issuance of 250,000 non-flow through units of the Company. Each non-flow through unit consists of one common share in the capital of the Company and one share purchase warrant to purchase an additional common share in the capital of the Company at the price of $0.05 per common share for a period of 5 years. All securities issued in connection with this financing include a hold period in accordance with applicable securities laws.
An Insider acquired 250,000 units of the Company which were issued in the first tranche of the Private Placement Financing. The issuance of units to the Insider is considered to be a related party transaction subject to Multilateral Instrument 61-101. 37 Capital is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under section 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101 based upon the fact that the participation in the Private Placement Financing by the Insider does not exceed 25% of the fair market value of the Corporation's market capitalization.
For more information on the Company, please contact us at (604) 681-0204. In addition, please visit the Company’s website at www.37capitalinc.com or the CSE’s website at the following direct link http://thecse.com/en/listings/mining/37-capital-inc.
On Behalf of the Board,
37 Capital Inc.
“Jake H. Kalpakian”
____________________ Jake H. Kalpakian, President
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Trading in the securities of the Company should be considered speculative.
37 Capital Inc.
Suite 303, 570 Granville Street.
Vancouver, BC V6C 3P1 Tel: (604) 681-1519 Fax: (604) 681-9428 www.37capitalinc.com email: [email protected]