Ism Resources Corp. Closes Private Placement and Appoints New CFO
LEGAL_40862863.1
ISM RESOURCES CORP.
ISM RESOURCES CORP. CLOSES PRIVATE PLACEMENT AND APPOINTS NEW CFO
Private Placement closing
Vancouver, BC – March 7, 2023: ISM Resources Corp. (the “Company” or “ISM”) (CSE: ISM)
is pleased to announce that, in furtherance of its most recent news releases, the Company has now
fully closed with all subscribers on its previously announced (February 27, 2023) non- brokered
private placement pursuant to which the Company has now issued an aggregate of 10,000,000
units of the Company (each, a “Unit”), at a subscription price of $0.15 per Unit, for gross proceeds
of $ 1,500,000, pursuant to the terms and conditions of the private placement (the “ Private
Placement”).
Each Unit under the Private Placement is still comprised of one common share (each, a “Common
Share”) and one non- transferable share purchase warrant (each, a “ Unit Warrant ”) of the
Company, and each such Unit Warrant now entitles the holder thereof to acquire one additional
common share of the Company (each, a “Warrant Share”) for a period of two years from closing
at an exercise price of $0.20 per Warrant Share.
There were no finders’ fees payable in connection with the closing of the Private Placement.
The proceeds of the Private Placement will be us ed for the Company’ s general corporate and
working capital purposes.
The Common Shares, the Unit Warrants and any Warrant Shares issuable upon exercise thereunder
are now subject to a hold period of four months and a day from closing.
New Company CFO
The Company also announces the recent resignation of Graeme Wright, as Chief Financial Officer
(“CFO”) and a director of the Company, and the appointment of Glenn Collick, the Company’s
current President and a director, as interim CFO in his place. The Co mpany wishes Mr. Wright
the very best in his future endeavors while it now searches for a full-time CFO.
About ISM Resources Corp.
ISM Resources Corp. is a Canadian-based exploration company with a focus on identifying
mineral resource projects for exploration and development. The Company is currently focused on
planning the exploration activities for the ESN Project in Nevada and evaluating the next steps for
the Koster Dam Project in Central British Columbia with it’s joint venture partner Cariboo Rose
Resources.
Glenn Collick, President
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For further information, please contact:
ISM Resources Corp.
306 – 1110 Hamilton Street
Vancouver, British Columbia, V6B 2S2
(778) 868-2226
The Canadian Securities Exchange has not in any way passed upon the merits of the matters
and Private Placement referenced herein and has neither approved nor disapproved the contents
of this news release.
Caution Regarding Forward-Looking Information
Certain statements contained in this news release may constitute forward‐looking information. Forward‐looking information is often, but not always,
identified by the use of words such as “ anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions.
Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results o r events to differ
materially from those anticipated in such forward‐looking information. The Company’s actual results could differ materially from those anticipated
in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the C ompany operates,
prevailing economic conditions, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the
Company. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given
that these expectations will prove to be correc t and such forward‐looking information should not be unduly relied upon. Any forward‐looking
information contained in this news release represents the Company ’s expectations as of the date hereof, and is subject to change after such date.
The Company disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information ,
future events or otherwise, except as required by applicable securities legislation.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute
a violation of U.S. Securities laws.