Abacus completes non-brokered private placement
Abacus completes non-brokered private placement
Vancouver, BC – April 14, 2021 . Abacus Mining & Exploration Corporation (“ Abacus” or the
“Company”) (TSXV: AME) is pleased to announce the closing of its non -brokered private placement of
units (the “ Private Placem ent”), as announced on March 10, 2021, pursuant to which the Company
raised total gross proceeds of $1,495,000.
Pursuant to the Private Placement, the Company issued 11,500,000 units (“ Units”) at a price of $0.13
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 $0.20 per Share until April 14, 2023. The Company also paid a total of $17,476 in
cash commissions and issued a total of 67,214 Warrants to certain arm’s length finders in connection
with the Private Placement.
All securities issued in connection with the Private Placement are subject to a statutory four month hold
period expiring August 15 , 2021, and 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 in Nevada, and a carried interest in the advanced Ajax copper -gold development project in
B.C. Further details of all of the Company’s properties may be found on the Company website.
On behalf of the Board,
ABACUS MINING & EXPLORATION CORPORATION
Paul G. Anderson
President and CEO
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 intere st, together with KGHM Polska Meidz 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. On December 14, 2017, a decision was
made by the B.C. Minister of Environment and Climate Change Strategy and the 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’ pro jects, 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”
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
occur. Forward looking statements may include, without limitation, statements relating to future outlook and
anticipated events, such as receipt of final TSXV acceptance in respect of the Private Placement or the anticipated
use of proceeds of the Private Placement by the Company. Although th e 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 req uired 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 pe rformance 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 E xchange 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.