Abacus completes final tranche of its non-brokered private placement
Abacus completes final tranche of its non-brokered private placement
Vancouver, BC – March 16, 202 2. Abacus Mining & Exploration Corporation (“ Abacus” or the
“Company”) (TSXV: AME) is pleased to announce the closing of the second and final tranche of its non-
brokered private placement of units (the “ Private Placement”), as announced on February 23, 2022,
February 28, 2022, March 2, 2022 and March 10, 2022.
Pursuant to the final tranche of the Private Placement, the Company raised total gross proceed of
$60,000, and issued 1,000,000 units (“Units”) at a price of $0. 06 per Unit. Each Unit consists of one
common share of the Company (a “ Share”) and one -half of one common share purchase warrant (a
“Warrant”), with each full Warrant exercisable to purchase one Share at a price of $0.10 per Share until
March 16, 2024.
All securities issued in connection with the final tranche of the Private Placement are subject to a
statutory four month hold period expiring July 17, 2022, and the final tranche of the Private Placement
is subject to final acceptance by the TSX Venture Exchange (the “TSXV”).
The Private Placement was offered to existing shareholders of Abacus who were permitted to subscribe
pursuant to British Columbia Instrument 45-534 – Exemption from Prospectus Requirements for Certain
Trades to Existing Security Holders, as well as under other available prospectus exemptions.
Proceeds from the Private Placement will be applied towards the Company’s exploration programs and
well as for general working capital.
The Company holds options and leases on the Willow and adjacent Nev-Lorraine copper-molybdenum
properties near Yerington, Nevada, and a 20% interest carried to production in the advanced Ajax
copper-gold development project in B.C . Investors are referred to the Company website for the latest
news and project descriptions.
On Behalf of the Board,
ABACUS MINING & EXPLORATION CORPORATION
Paul G. Anderson, P. Geo.
President and CEO
About Abacus
Abacus is a mineral exploration and mine development company currently focused on copper and gold in B.C. and
Nevada. The Company’s main asset is a 20% ownership interest, together with KGHM Polska Miedź S.A. (80%),
in the proposed copper-gold Ajax Mine located southwest of Kamloops, B.C., which has undergone a joint provincial
and federal environmental assessment process. On December 14, 2017, a decision was made by the B.C. Minister
of Environment and Climate Change Strategy and the Minister of Energy, Mi nes and Petroleum Resources to
decline to issue an environmental assessment certificate for the Project. KGHM have recently reopened an office in
Kamloops, B.C. to facilitate First Nation, community and governmental engagement in order to advance the project
towards a potential resubmission of the environmental application.
Abacus also holds an option on the Willow copper-gold property located near Yerington, Nevada in which it can
acquire up to a 75% ownership interest, and the contiguous Nev -Lorraine clai ms subject to a ten -year lease
agreement.
For the latest reports and information on Abacus’ projects, please refer to the Company’s website at
www.amemining.com.
Forward-Looking Information
Suite 1000 – 1050 West Pender Street
Vancouver, B.C. V6E 3S7 Canada
Tel: 604.682.0301
email: [email protected]
website: www.amemining.com
TSX Venture Exchange Symbol: AME
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 metallur gical
recovery, operating and capital costs, foreign exchange rates, ability to obtain 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.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the
United States. The securities have not been and will not be regist ered under the United States Securities Act of
1933, as amended (the “ U.S. Securities Act”), or any state securities laws and may not be offered or sold within
the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S.
Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption
from such registration is available.
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.