Kintavar Exploration Announces the Final Closing of the Private Placement for an Aggregate Total of $1,050,423
NEWS RELEASE
For immediate distribution
Kintavar Exploration Announces the Final Closing of the Private Placement for an Aggregate Total
of $1,050,423
Montreal, Quebec, December 29, 2017 – Kintavar Exploration Inc. (the “ Corporation” or
“Kintavar”) (TSX -V: KTR), is pleased to announce the third and final closing of a non -brokered
private placement offering (the “ Private Placement”), consisting of 2,547,356 shares, issued on a
flow through basis, at a price of $0.14 per share and of 1,859,295 units (“ Units”) at a price of
$0.11 per Unit for a total aggregate gross proceeds of $1,050,423. Each Unit being comprised of
one (1) Share and one half of one (1/2) Share purchase w arrant, each whole warrant entitling
the holder hereof to acquire one (1) Share at a price of $0.14 per Share until December 26, 2019.
Certain officers of the Company have participated in this Private Placement for a total of 164,428
Flow-Through Shares and 131,250 Units distributed pursuant to the private placement (the
“Insiders’ Participation”). The Insiders’ Participation is exempt 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 suc h 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 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 April 2 7, 2018, except as permitted by applicable securities
legislation and the rules of TSX Venture Exchange.
In connection with this Private Placement, the Corporation has paid a cash finder’s fee in an
amount of $15,792 and issued 112,800 non-transferable finder’s options to acquire such number
of common shares at a price of $0.14, exercisable for a period of twenty four (24) months and
subject to a hold period of four months plus one day from the closing date.
“We are very satisfied with thi s oversubscribed Private Placement and are now looking forward
to complete the winter drilling program on Mitchi in January. With assays expected to start
coming in from the lab starting as of January, we believe it will be an exciting period for Kintavar.
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On behalf of the entire team, I would like to wish everyone happy holidays and a Happy New
Year.” commented Kiril Mugerman, President and CEO of Kintavar Exploration.
About the Mitchi Property
The Mitchi property (approx. 21,000 hectares, 100% owned) is located west of the
Mitchinamecus reservoir, 100 km north of the town of Mont -Laurier. The propert y covers an
area of more than 21 0 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.
NI 43‐101 Disclosure
Alain Cayer, P. Geo., MSc., Vice -President Exploration of Kintavar, is the Qualified Person under
NI 43-101 guidelines who supervised and approved the preparation of the technical information
in this news release.
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 “forward looking
statements” within the me aning 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 assumptions underlying any of the fore going. 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 identify 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 achieved. 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,
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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 nine months ended September 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.