International Samuel Amendment to Non-Brokered Private Placement
July 9, 2018 - International Samuel Exploration Corp. (the “Company” or “International Samuel”) (TSXV: ISS USA: ISSFF FSE: RFC2) announces an amendment to the non-brokered $500,000 private placement offering previously announced June 29, 2018, in that it is now offering up to 5,000,000 flow-through units (“FT Units”) and up to 5,000,000 non-flowthrough units (“NFT Units”).
Each NFT Unit is offered at a price of $0.05/NFT Unit and will consist of one common share of the Company and one transferable common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share of the Company for a 24 month exercise period at a price of $0.10/share, subject to abridgement of the exercise period (after the expiry of the 4 month hold period) with 30 days’ notice to holders in the event that the closing price of the Company’s shares for 10 consecutive trading days exceeds $0.20.
Each FT Unit is offered at a price of $0.05/FT Unit and will consist of one common share of the Company and one-half (½) of one transferable common share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one common share of the Company for a 12 month exercise period at a price of $0.10/share, subject to abridgement of the exercise period (after the expiry of the 4 month hold period) with 30 days’ notice to holders in the event that the closing price of the Company’s shares for 10 consecutive trading days exceeds $0.20.
The proceeds received from these private placements will be used for work programs on the Company’s 27,300 hectares of properties located in the Golden Triangle and for general working capital.
In conjunction with these financings, the Company may pay a finder’s fee to eligible persons in compliance with applicable securities laws and exchange policies. These financings are subject to TSX Venture Exchange approval.
ON BEHALF OF THE BOARD OF DIRECTORS
“Conrad Swanson”
Conrad Swanson Chairman
For further information, please contact:
International Samuel Exploration Corp.
Telephone: 604-317-3090 Email: [email protected],
www.internationalsamuelexploration.com
Neither the 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.
Forward-looking Information Certain statements in this news release constitute “forward-looking” statements. These statements relate to future events or the Company’s future performance as described in the above news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.