Abacus announces $1,200,000 financing
Abacus announces $1,200,000 financing
Vancouver, BC – February 28, 2018. Abacus Mining & Exploration Corporation (“Abacus”
or the “Company”) (TSXV: AME) is pleased to announce a non-brokered private placement
for proceeds of up to $1,200,000 through the issuance of 6,000,000 units ("Units") at a price
of $0.20 per Unit. Each Unit will consist of one common share of the Company (a “Unit
Share”) and one non-transferable common share purchase warrant, with each warrant
exercisable to purchase one common share of the Company at a price of $0.30 per common
share for a period of 3 years from the date of closing of the financing.
The financing is subject to TSX Venture Exchange (TSXV ) approval. No finder's fees are
payable on the financing, and all securities issued will be subject to a four month hold period
under Canadian securities law.
Proceeds from the financing will be applied towards the drill program at the Company’s
Willow project in Nevada, and general working capital and corporate purposes.
An updated corporate presentation detailing the new drill target on the Willow porphyry
copper project is now available on the Company’s website.
For further information, please contact Investor Relations at (604) 682-0301.
On Behalf of the Board,
ABACUS MINING & EXPLORATION CORPORATION
Paul G. Anderson
President and COO
About Abacus
Abacus is a mineral exploration and mine development company currently focused on its optioned Willow
copper-gold property located near Yerington, Nevada in which it can acquire up to a 75% ownership interest,
and the contiguous Nev-Lorraine claims subject to a ten year lease agreement. The Company also holds a 20%
ownership interest, together with KGHM Polska M iedz S.A. (80%), in the proposed copper -gold Ajax Mine
located southwest of Kamloops, B.C., which has recently undergone a joint provincial and federal environmental
assessment process. The Ajax project awaits a final decision from the Federal Cabinet on whether the project
can proceed. On December 14, 2017, a decision was made by the B.C. Minister of Environment and Climate
Change Strategy and Minister of Energy, Mines and Petroleum resources to decline to issue an environmental
assessment certificate for the Project. For the latest reports and information on Abacus’ projects, please refer
to the Company’s website at www.amemining.com.
Forward-Looking Information
This release includes certain statements that are deemed “forward-looking statements”. All statements in this
release, other than statements of historical facts, that address events or developments that Abacus expects to
occur, are forward-looking statements. Forward- looking statements are statements that are not historical facts
and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”,
“estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”,
“could” or “should” occur. 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
and actual results may differ materially from those in the forward-looking statements. Factors that could cause
the actual results to differ materially from those in forward-looking statements include changes to commodity
prices, mine and metallurgical recovery, operating and capital costs, foreign exchange rates, ability to obtain
Suite 1000 – 1050 West Pender Street
Vancouver, B.C. V6E 3S7 Canada
Tel: 604.682.0301 Fax: 604.682.0307
email: [email protected]
website: www.amemining.com
required permits on a timely basis, exploitation and exploration successes, continued availability of capital and
financing, and general economic, market or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual results or developments may differ materially
from those projected in the forward-looking statements. Forward- looking statements are based on the beliefs,
estimates and opinions of the Company's management on the date the statements are made. Except as required
by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements
in the event that management's beliefs, estimates or opinions, or other factors, should change.
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.