Abacus completes non-brokered private placement
Abacus completes non-brokered private placement
Vancouver, BC – December 29, 2021. Abacus Mining & Exploration Corporation (“ Abacus” or the
“Company”) (TSXV: AME) is pleased to announce it has completed a non-brokered private placement
of units (the “ Private Pla cement”) pursuant to which the Company raised total gross proceeds of
$173,600.
The Private Placement is comprised of units (“Units”) at a price of $0.10 per Unit. Each Unit consists of
one common share of the Company (a “ Share”) and one-half of one comm on share purchase warrant
(a “Warrant”), with each full Warrant exercisable to purchase one Share at a price of $0. 15 per Share
for 36 months from date of closing of the Private Placement. The Company will not pay any commissions
or finders’ fees in connection with the Private Placement.
All securities issued in connection with the Private Placement will be subject to a statutory four month
hold period from date of closing , and the Private Placement is subject to final acceptance by the TSX
Venture Exchange.
Proceeds from the Private Placement will be applied towards the Company’s exploration programs and
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 interest, together with KGHM Polska Me idz 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 Envir onment 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’ projects, please refer to the Compa ny’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. 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 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
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
include changes to commodity prices, mine and metallurgical recovery, operating and capital costs, foreign
exchange rates, ability to obtain required permits on a timely basis, exploita tion 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 developmen ts
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 Provid er (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.