Boreal Announces Stock Exchange Listing (TSXV: Bmx) and Closing of $4.4 Million IN Equity Financings
NEWS RELEASE
November 21, 2017
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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.
BOREAL ANNOUNCES STOCK EXCHANGE LISTING (TSXV: BMX) AND
CLOSING OF $4.4 MILLION IN EQUITY FINANCINGS
Vancouver, B.C., November 21, 2017 . Boreal Metals Corp. (“ Boreal” or the “ Company ”) (TSXV:
BMX) is pleased to announce it has obtained a public listing for its securities on the TSX Venture
Exchange (the “ Exchange ”) following closing of its previously announced concu rrent offerings
of units by way of Short Form Offering Document in accordan ce with Exchange policies (the
“SFOD Offering ”) and by way of brokered private placement (the “ Private Placement ”).
As a result, the Company will be listed as a Tier 2 issuer on the Exchange. Pursuant to the SFOD
Offering and the Private Placement (the “ Financings ”), Boreal has raised aggregate gross
proceeds of $4,400,000. The Financings were conducted by PI Financial Corp. (the " Agent ").
Upon closing of the Financings, 6,666,666 units were i ssued pursuant to the SFOD Offering
(“ SFOD Units ”) and 8,000,000 units were issued pursuant to the Priva te Placement (“ Brokered
Units ”). The SFOD Units were issued at a price of $0.30 per unit, with each SFOD Unit
consisting of one common share (a “ Common Share ”) and one-half of one common share
purchase warrant (each whole warrant, a “ Warrant ”). The Brokered Units were issued at a
price of $0.30 per unit, with each Brokered Unit consis ting of one Common Share and one
Warrant. Each Warrant entitles the holder thereof to purchas e one Common Share at an
exercise price of $0.50 per Common Share until November 21, 2019.
A cash commission equal to 8% of the gross proceeds of th e Financings was paid to the Agent.
In addition, the Agent was issued non-transferable broker warrants (“ Agent’s Warrants ”) equal
to 8% of the number of units issued pursuant to the Fina ncings. Each Agent’s Warrant will be
exercisable for one Common Share at a price of $0.30 pe r Common Share until May 21, 2019.
The Agent also received 600,000 units as a corporate fin ance fee (“ Corporate Finance Units ”),
with 400,000 of such Corporate Finance Units having th e same composition as the SFOD Units
and 200,000 of such Corporate Finance Units having the s ame composition as the Brokered
Units.
All securities issued in connection with the Brokered Units, the Agent’s Warrants and the
Corporate Finance Units are subject to a four-month hold p eriod, expiring March 22, 2018. In
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November 21, 2017
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addition, securities held by insiders are subject to a 36-month staged release escrow agreement
pursuant to the listing rules of the Exchange and appli cable securities laws. Securities issued in
connection with the SFOD Offering will not be subject to any resale restrictions.
Trading in the Common Shares and Warrants of Boreal is exp ected to commence under the
symbols “BMX” and “BMX.WT”, respectively, effective market open today, November 21, 2017.
Proceeds from the Financings will be used to fund explorat ion and development of the
Company’s Gumsberg property in the Bergslagen Region of Sweden and for general working
capital and other corporate purposes of the Company and its subsidiaries, including funding of
exploration activities on the Company’s non-material pr operties, as detailed in the Short Form
Offering Document, a copy of which can be found on SEDAR at www.sedar.com .
This news release does not constitute an offer to sell or solicitation 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 th e United States unless registered under
the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
About Boreal Metals Corp.
Boreal is a mineral exploration company focused on the d iscovery of Zinc, Copper, Silver and
Gold deposits in four exceptional, historical mining project areas spanning Sweden and Norway.
The Company aims to discover new economic mineral dep osits in known mining districts that
have seen little or no modern exploration techniques. The Company is led by an experienced
management team and technical team, with successful t rack records in mineral discovery,
mining development and financing.
On behalf of Boreal Metals Corporation
Karl Antonius, President
For more information on Boreal please visit the Company website at www.borealmetals.com or
contact Alexandra Woodyer Sherron at +1.604.922.8810 or [email protected] .
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November 21, 2017
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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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements that may be deemed “forward‐looking statements”. Forw ard‐looking statements are statements
that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”,
“estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur.
Although Boreal Metals Corp. believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance, are subject to risks and unc ertainties, and actual results or realities may differ
materially from those in the forward‐looking statements. Such material risks and uncertainties include, but are not limited to, the anticipated
use of proceeds from the Financings; Boreal Metals Corp.’s ability to raise suffi cient capital to fund its obligations under its property option
agreements, to maintain its mineral tenures and concessions in good standing, to explore and deve lop its projects, to repay its debt and for
general working capital purposes; changes in economic conditions or financial markets; the ability of Boreal Metals Corp. to obtain the
necessary permits and consents required to explore, drill and develop the projects and i f obtained, to obtain such permits and consents in a
timely fashion relative to Boreal Metals Corp.’s plans and business objectives for the projects; the general ability of Boreal Metals Corp. to drill
test its projects and find mineral resources; if any mineral resources are di scovered or acquired, the Company’s ability to monetize any such
mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations.
Forward‐looking statements are based on the reasonable beliefs, estimates and opinions of Boreal Metals Corp.’s management on the date the
statements are made. Except as required by law, Boreal Metals Corp. undertakes no obl igation to update these forward‐looking statements in
the event that management’s beliefs, estimates or opinions, or other factors, should change.