2288 - 1177 West Hastings
INFORM RESOURCES CORP.
2288 - 1177 West Hastings
Vancouver, British Columbia V6E 2K3
LEGAL_33201053.1
INFORM ANNOUNCES PRIVATE PLACEMENT AND CHANGES IN MANAGEMENT
______________________________________________________________________________
May 4, 2020 TSX-V: IRR
Vancouver, British Columbia – May 4, 2020 - Inform Resources Corp. TSX.V:IRR (“Inform” or the
"Company") announces a non-brokered private placement (the “Offering”) of up to 8,000,000 units (the
“Units”) at a price of $0.25 per Unit for proceeds of up to $2,000,000. Each Unit consists of o ne
common share in the capital of the Company (a “ Share”) and one -half of one common share purchase
warrant (each whole warrant a “ Warrant”). Each Warrant entitles the holder thereof to purchase one
additional Share at a price of $0.50 per Share for a period of 24 months from the date of issuance.
A portion of the Offering may be completed in accordance with the exemption set out in BC Instrument
45-536 (Exemption from prospectus requirement for certain distributions through an investment dealer )
(the "Investment Dealer Exemption").
The Company may pay a finder’s fee on the Offering within the amount permitted by the policies of the
TSX Venture Exchange (the “Exchange”). In accordance with the requirements of the Investment Dealer
Exemption, the Compan y confirms there is no material fact or material change related to the Company
which has not been generally disclosed. Closing of the Offering is subject to a number of conditions,
including receipt of all necessary corporate and regulatory approvals, inc luding the Exchange. All
securities issued in connection with the Offering will be subject to a statutory hold period of four months
plus a day from the date of issuance in accordance with applicable securities legislation. The Offering is
not subject to a minimum aggregate amount of subscriptions. The Company will use the proceeds of the
Offering to finance the exploration and development of the Company’s Apol lo and Sancarron projects
located in Chile and for general working capital purposes.
The company also announces that, it has granted 2,500,000 stock options (each, an “Option”) to directors,
officers and investor relations pursuant to its stock option plan. Each option was granted at an exercise
price of $0.33 per common share for a period of five (5) years from the date of grant.
Changes to the Board of Directors and Management
The Company also announces certain changes to its board of directors and management. Effective
immediately, Andrew Cheshire has resigned as a director and Chief Executive Officer of the Company to
pursue other opportunities. The Company would like to thank Mr. Cheshire for his contributions to the
Company. Simon Clarke and Andrew Bowering have been appointed to the board of directors. Simon
Clarke has also been appointed Chief Executive Officer of the Company and Andrew Bowering has been
appointed Chairman of the Board of Directors.
Simon Clarke, Chief Executive Officer and Director
Simon Clarke brings 25 years’ of experience in building and growing companies and implementing
successful capital markets and growth strategies, with a focus on mining and energy. Most recently, Mr.
Clarke was Founder, CEO and Director of M2 Cobalt (cobalt / copper exploration in East Africa) and was
instrumental in its merger with Jervois Mining Ltd. in June 2019. Following the merger, Mr Clarke joined
the enlarged group initially as Director and then as EGM Corporate Affairs. Mr. Clarke’s experience
includes all facets of natural resource exploration, development and production. Mr. Clarke holds an LLB
& Diploma in Legal Practice from Aberdeen University in Scotland.
- 2 -
LEGAL_33201053.1
Andrew Bowering, Director
Andrew Bowering is a venture capitalist with 30 years ’ of operational experience and leader ship in
mineral exploration and development worldwide. He has founded, funded and built teams that have
operated numerous companies in the pursuit of precious, base and industrial metals from early exploration
through to production. Mr. Bowering is currently CEO and Director of Prime Mining Corp. (gold and
silver developer at Los Reyes, Mexico) . Mr. Bowering has served as an officer or director of public
companies on the TSX Venture Exchange, the TSX and the American Stock Exchange . His recent
endeavors include Millennial Lithium Corp, American Lithium Corp, in addition to Prime Mining.
On behalf of the Board of Directors
INFORM RESOURCES CORP.
“Simon Clarke”
Simon Clarke, Chief Executive Officer
For further general information, please contact Simon Clarke at [604 551 9665] or email at
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding “Forward-Looking” Information
Statements in this news release that are forward -looking statements are subject to various risks and
uncertainties concerning the specific factors disclosed here and elsewhere in the Company’s periodic
filings with Canadian securities regulators. When used in this news release, words such as “will”,
“could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “ appear”, “should,” and similar
expressions, are forward-looking statements.
Although Inform Resources Corp. has attempted to identify important factors that could cause actual
results, performance or achievements to differ materially from those contained in the forward -looking
statements, there can be other factors that cause results, performance or achievements not to be as
anticipated, estimated or intended. There can be no assurance that such information will prove to be
accurate or that management's ex pectations or estimates of future developments, circumstances or results
will materialize. As a result of these risks and uncertainties, the results or events predicted in these
forward looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward -looking statements. The forward -
looking statements in this news release are made as of the date of this news release, and the Company
disclaims any intention or obligation to update or revi se such information, except as required by
applicable law.