Abacus completes non-brokered private placement
Abacus completes non-brokered private placement
Vancouver, BC – November 23, 2018. Abacus Mining & Exploration Corporation (“Abacus”
or the “Company”) (TSXV:AME) is pleased to announce the closing of the previously
announced non-brokered private placement for gross proceeds of $ 487,200 through the
issuance of 4,872,000 units of the Company ("Units") at a price of $0.10 per Unit. Each Unit
consists of one common share of the Company and one non -transferable common share
purchase warrant (“Warrant”), with each Warrant exercisable to purchase one common
share of the Company at a price of $0.20 per common share for a period of three years from
the date of closing of the financing. Abacus paid a total of $4,529.00 in cash commissions
and issued a total of 45,290 Warrants to finders. All securities issued will be subject to a
statutory four month hold period expiring on March 24, 2019, and the financing is subject to
final TSX Venture Exchange approval.
Proceeds from the financing will be applied towards the Com pany's exploration
commitments and for general working capital and corporate purposes. The Company holds
options and leases on the Willow and adjacent Nev-Lorraine copper-molybdenum properties
in the Yerington copper camp, southeast of Reno, Nevada. The p roperties are collectively
known as the Willow Project.
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 Miedz 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 a ssumptions, 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
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
TSX Venture Exchange Symbol: AME
prices, mine and metallurgical 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.
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.