Azarga Metals Upsizes Private Placement
AZARGA METALS CORP.
UNIT 1 – 15782 MARINE DRIVE, WHITE ROCK, B.C. V4B 1E6, CANADA
www.azargametals.com
FOR IMMEDIATE RELEASE
FEBRUARY 24, 2021 TSX-V: AZR
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
AZARGA METALS UPSIZES PRIVATE PLACEMENT
AZARGA METALS CORP. ("Azarga Metals" or the “ Company”) (TSX-V:AZR) is
pleased to announce that due to strong market demand Azarga Metals has increased its
planned non-brokered private placement announced on February 17, 2021 from up to
$500,000 to up to $1,300,000. On closing the private placement, the Company will issue
up to 21,666,666 units at a price of C$0.06 per unit (a “Unit”).
Each Unit consists of one common share of the Company (each, a “Share”) and one-half
of one Share purchase warrant (each whole warrant, a “Warrant”). One Warrant entitles
the holder thereof to purchase one Share of the Company at a price of C$0.12 per Share
for a period of two years from the closing of the Offering. The Shares issued in connection
with the Offering will be s ubject to a four -month and a day hold period. In addition, the
Offering is subject to the approval of the TSX Venture Exchange. Finder’s fees will be
payable on the Offering.
The Company intends to use the proceeds of the Offering to fund the cost of the PEA
preparation on the Company’s Unkur project and for general working capital purposes.
About Azarga Metals Corp.
Azarga Metals is a mineral exploration and development company that owns 100% of the
Unkur Copper-Silver Project in the Zabaikalsky administrative region in eastern Russia.
On completion of a first phase physical exploration program in 2016-2018, the Company
estimated an Inferred Resource of 62 million tonnes at 0.53% copper and 38.6g/t silver
for the project in the report entitled “Technical Report and Preliminary Economic
Assessment for the Unkur Copper -Silver Project, Kodar -Udokan, Russian Federation”
dated effective 30, August 2018 authored by Tetra Tech Mining & Minerals.
AZARGA METALS CORP.
"Michael Hopley"
Michael Hopley,
President and Chief Executive Officer
Page 2
AZARGA METALS CORP.
UNIT 1 – 15782 MARINE DRIVE, WHITE ROCK, B.C. V4B 1E6, CANADA
www.azargametals.com
For further information please contact: Doris Meyer, at +1 604 536- 2711 ext. 6, visit
www.azargametals.com or follow us on Twitter @AzargaMetals. The address of the head
office of Azarga Metals is Unit 1 - 15782 Marine Drive, White Rock, BC V4B 1E6, British
Columbia, Canada.
Neither the 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 does not constitute an offer to sell or a s olicitation of an offer to buy
any of the securities in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as amended (the “U.S.
Securities Act”) or any state securities laws and may not be offered or sold within the
United States or to U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration is available.
Cautionary Statement:
This news release contains forward- looking statements that are based on the Corporation's current
expectations and estimates. Forward- looking statements are frequently characterized by words such as
"plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors that could cause actual events or results
to differ materially from estimated or anticipated events or results implied or expressed in such forward-
looking statements. Such factors include, among others: the actual results of current planned exploration
activities; conclusions of economic evaluat ions; changes in project parameters as plans to continue to be
refined; possible variations in mineralization grade or recovery rates; accidents, labor disputes and other
risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in
metal prices. There may be other factors that cause actions, events or results not to be as anticipated,
estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and,
except as may be required by applicable securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new information, future events or results or
otherwise. Forward-looking statements are not a guarantee of future performance and accordingly undue
reliance should not be put on such statements due to the inherent uncertainty therein.