First Closing of a Private Placement for $381,610 and Transaction with Osisko
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First Closing of a Private Placement for $381,610 and Transaction with Osisko
Montreal, Quebec, November 17, 2017 – Kintavar Exploration Inc. (the “ Corporation” or
“Kintavar”) (TSX-V: KTR) announces the first closing of a non-brokered private placement offering
(the “ Private Placement”), consisting of 1 ,475,784 shares, issued on a flow through basis, at a
price of $0.14 per share and of 1,590,908 units (“ Units”) at a price of $0.11 per Unit for
aggregate gross proceeds of $381,610. Each Unit being comprised of one (1) Share and one half
of one (1/2) Share purchase warrant, each whole warrant entitling the holder hereof to acquire
one (1) Share at a price of $0.14 per Share until November 15, 2019. The Company anticipates to
close the final tranche of the offering on or about December 1, 2017.
Certain officers of the Company have participated in this Private Placement for a total of 100,000
Flow-Through Shares distributed pursuant to the private placement (the “ Insiders’
Participation”). The Insiders’ Participation is ex empt from the formal valuation and shareholder
approval requirements provided under Regulation 61 -101 respecting Protection of Minority
Holders in Special Transactions (“Regulation 61 -101”) in accordance with sections 5.5(a) and
5.7(a) of said Regulation 61-101. The exemption is based on the fact that the market value of the
Insiders’ Participation or the consideration paid by such insiders does not exceed 25% of the
market value of the Company. The Company did not file a material change report at least 21
days prior to the completion of the private placement since the Insiders’ Participation was not
determined at that moment.
The Company will use the proceeds of the Private Placement for the upcoming drilling program
on the Mitchi property and for working capital purposes.
The shares acquired by the subscribers are subject to a hold period of four months plus one day
from the closing date, ending on March 17, 2018 , except as permitted by applicable securities
legislation and the rules of TSX Venture Exchange.
Transaction with Osisko Mining Inc.
In addition, the Corporation completed a transaction with Osisko Mining Inc. (“ Osisko”) whereby
Osisko acquired Kintavar’s Comptois property in the Lebel -sur-Quevillon region in Quebec for a
total proceeds of $50,000 in cash and a 2% NSR royalty with 1% repurchasable for an amount of
$1,000,000.
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About the Mitchi Property
The Mitchi property (approx. 21,000 hectares, 100% owned) is located west of the
Mitchinamecus res ervoir, 100 km north of the town of Mont -Laurier. The propert y covers an
area of more than 210 km2 accessible by a network of logging and gravel roads with a hydro-
electric power substation located 14 km to the east. The property is located in the north-western
portion of the central metasedimentary belt of the Grenville geological province. Many gold,
copper, silver and manganese mineralized showings have been identified to date, with many
characteristics suggesting of a sediment -hosted stratiforme copper type deposit (SSC) in the
Eastern portion of the property and Iron Oxide Copper Gold ore (IOCG) and skarn type deposits
in the Western portion . Osisko Mining holds a 2% NSR on 39 claims and 1% NSR on 21 other
claims of the Mitchi property.
For further information contact:
Kiril Mugerman,
President and CEO
Telephone: +1 450 641 5119 #5653
Email: [email protected]
Web: www.kintavar.com
Forward looking Statements:
Neither TSX Venture Exchange 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.
This news release contains statements that may constitute “forward -looking information” or “forwar d looking
statements” within the meaning of applicable Canadian securities legislation. Forward -looking information and
statements may include, among others, statements regarding future plans, costs, objectives or performance of the
Corporation, or the ass umptions underlying any of the foregoing. In this news release, words such as “may”,
“would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and
similar words and the negative form thereof are used to id entify forward -looking statements. Forward -looking
statements should not be read as guarantees of future performance or results, and will not necessarily be accurate
indications of whether, or the times at or by which, such future performance will be achie ved. No assurance can be
given that any events anticipated by the forward -looking information will transpire or occur, including additional
closings of the private placement referred to above, or if any of them do so, what benefits the Corporation will
derive. Forward -looking statements and information are based on information available at the time and/or
management's good -faith belief with respect to future events and are subject to known or unknown risks,
uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control.
These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in
the Corporation’s management’s discussion and analysis for the six months ended June 30, 2017, which is available
on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in
any forward -looking statements. The Corporation does not intend, nor does the Corporation undertake any
obligation, to update or revise any forward -looking information or statements contained in this news release to
reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.