Boreal Closes over-Subscribed Private Placement
NEWS RELEASE
February 20, 2019
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BOREAL CLOSES OVER-SUBSCRIBED PRIVATE PLACEMENT
Vancouver, B.C., February 20, 2019. Boreal Metals Corp. (“Boreal” or the “Company”)
(TSXV:BMX) is pleased to announce it has closed its non-brokered private placement previously
announced on January 30, 2019. Due to increased demand, the previously announced private
placement was increased from approximately 10,526,316 to 17,060,934 units of the Company
(“Units”) at a price of $0.095 per Unit for gross proceeds of approximately $1,620,000.
“We want to especially thank EMX Royalty for their constant support of our exploration efforts,”
stated Karl Antonius, CEO and President. “EMX’s participation, along with management and
insiders, has accounted for a significant part of this financing, recognizing the importance of our
drilling results and bringing focus to the opportunity our shareholders may have in front of them.”
Each Unit consists of one common share and one warrant, with each warrant being exerciseable
for one additional common share at a price of $0.15 for a period of 24 months from the date of
issue. All securities issued under the private placement will be subject to statutory hold periods
expiring four months and one day from the issue date. The TSX Venture Exchange has
conditionally approved the private placement, subject to customary final filings.
In connection with the private placement, the Company paid certain arm’s length finders, finders’
fees totalling $18,240 and 120,800 Units.
The proceeds of the private placement will support current exploration and further drilling at the
Company’s Gumsberg property and for general working capital purposes.
About Boreal Metals Corp.
Boreal is a mineral exploration company focused on the discovery of Zinc, Copper, Silver, Gold
and Cobalt deposits in exceptional, historical mining project areas spanning Sweden and Norway.
The Company aims to discover new economic mineral deposits 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 track records in mineral discovery, mining
development and financing.
On behalf of Boreal Metals Corp.
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].
NEWS RELEASE
February 20, 2019
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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”. Forward-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 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 uncertainties, 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, Boreal’s ability to raise sufficient capital to maintain its mineral tenures and concessions in good
standing, to explore and develop its projects, to repay its debt and for general working capital purposes; changes in
economic conditions or financial markets; the ability of Boreal to obtain the necessary permits and consents required
to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion
relative to Boreal plans and business objectives for the projects; the general ability of Boreal to drill test its projects
and find mineral resources; if any mineral resources are discovered 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 management on the date the statements are made. Except as required by law, Boreal undertakes
no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or
opinions, or other factors, should change.