Inflection Resources Closes Oversubscribed $4.4 Million Private Placement
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Inflection Resources Closes Oversubscribed $4.4 Million
Private Placement
Vancouver, British Columbia, May 17, 2021: Inflection Resources Ltd. (CSE: AUCU / OTCQB:
AUCUF / FSE: 5VJ) (the "Company" or "Inflection") is pleased to announce that further to its news
release of April 13, 2021, the Company has completed a non-brokered private placement (the
“Offering”) to raise gross proceeds of $4,437,490 through the sale of 13,867,156 Units (the
“Units”) priced at $0.32 per Unit . Each Unit consists of one common share and one half of one
share purchase warrant, with each whole warrant exercisable into one further common share at
a price of $0.50 for a term of two years.
The Offering was oversubscribed by over $1.4 million due in -part to the significant support
received from existing shareholders as well as from new investors including Crescat Capital LLC
(“Crescat”).
Alistair Waddell, President and CEO of Inflection Resources, commented: “I would like to thank
existing shareholders for their continued support through participation in the Offering, and
welcome new investors including Crescat. With the financing now closed, the Company is in a
strong position to continue our aggressive drill program in New South Wales, Australia, which is
testing a large portfolio of 100% owned gold and copper-gold porphyry targets”.
"Exploration at Inflection is driven by pure science," commented Quinton Hennigh, technical
advisor to Crescat Capital, "exactly the sort of company in which we like to invest. Inflection's
strategy of exploring for large copper-gold porphyries under cover in a region that hosts a number
of world-class deposits combined with a smart technical team makes this a compelling
investment. We look forward to watching closely as Inflection advances their recent geologic
discoveries toward economic discoveries."
Proceeds from the Offering will be used for further drilling on the Company’s exploration projects
in Northern New South Wales, the Carron Project in Queensland and for general working capital.
Finders’ fees of $158,832 cash and 468,225 broker warrants exercisable at $0.32 per common
share for a one-year term were paid on a portion of the Offering. All securities issued are
restricted from trading until September 15, 2021.
Insiders of the Company, including RCF Opportunities Fund L.P., purchased a total of 1,536,531
Units. The participation by Insiders in the Offering constitutes a “related party transaction” for the
purposes of Multilateral Instrument 61 -101, Protection of Minority Security Hol ders in Special
Transactions. The Company is relying upon exemptions from the requirement to obtain a formal
valuation and seek minority shareholder approval for the Offering on the basis that the fair market
value of the participation by related parties in the Offering is less than 25% of the Company’s
current market capitalization.
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About Inflection Resources
Inflection is a technically driven gold and copper-gold focused mineral exploration company with
projects in Eastern Australia where it is systematically drill testing a large portfolio of projects in
New South Wales . The Company is exploring for large copper -gold and gold deposits in the
northern interpreted extension of the Macquarie Arc, part of the Lachlan Fold Belt in New South
Wales. The Macquarie Arc is Australia's premier porphyry gold -copper province being host to
Newcrest Mining's Cadia deposits, the CMOC Northparkes deposits and Evolution Mining's Cowal
deposits plus numerous exploration prospects including Boda, the recent discovery made by
Alkane Resources.
For more information, please visit the Company's website at www.inflectionresources.com.
On Behalf of the Board of Directors
"Alistair Waddell"
President and CEO
For further information, please contact:
Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts
responsibility for the adequacy or accuracy of this release.