Inflection Resources Closes Oversubscribed Private Placement
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Inflection Resources Closes Oversubscribed Private
Placement
Vancouver, British Columbia, August 17, 202 3: Inflection Resources Ltd. (CSE: AUCU /
OTCQB: AUCUF / FSE: 5VJ) (the "Company" or "Inflection") is pleased to announce that further
to its news release of July 2 6, 202 3, the Company has completed a non -brokered private
placement (the “Offering”) to raise gross proceeds of $ 1,776,750 through the sale of 7,107,000
units (the “Units”) priced at $0. 25 per Unit. Each Unit consists of one common share and one -
half of a share purchase warrant, with each whole warrant exercisable into one further common
share at a price of $0.40 for a term of 18 months.
The proceeds from the Offering will be used for exploration activities on the Company’s Northern
New South Wales projects that are not part of the Farm -in Agreement with AngloGold Ashanti,
the Carron project in Queensland Australia and for general working capital.
Insiders of the Company purchased a total of 1,675,000 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 Holders 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.
Cash finder’s fees of $ 53,700 and 214,800 finder’s warrants exercisable at $0.40 per common
share for an 18-month term were paid on a portion of the Offering. All securities issued are
restricted from trading until December 18, 2023.
About Inflection Resources
Inflection is a technically driven copper-gold and gold focused mineral exploration company listed
on the Canadian Securities Exchange under the symbol “AUCU” and on the OTCQB under the
symbol “AUCUF” with projects in Australia. The Company has entered in to an exploration
agreement with AngloGold Ashanti and has recently commenced a drill program in New South
Wales anticipated to comprise of approximately 35,000 metres of drilling. For more information,
please visit the Company 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
2
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for
the adequacy or accuracy of this release.
Forward-Looking Statements:
This news release includes certain forward -looking statements and forward -looking information (together,
“forward-looking statements”). All statements other than statements of historical fact included in this
release, including, without limitation, statements regarding the Offering, the use of proceeds from the
Offering, other future plans and objectives of the Company are forward -looking statements. There can be
no assurance that such statements will prove to be accurate and actual results and future events may vary
from those anticipated in such statements. Important risk factors that could cause actual results to differ
materially from the Company's plans or expectations include the risk that actual results and timing of
exploration and development will be different from those expected by management. Readers are cautioned
not to place undue reliance on forward-looking statements. The Company expressly disclaims any intention
or obligation to u pdate or revise any forward -looking statements whether as a result of new information,
future events or otherwise, except as otherwise required by law.