To U.s. Wire Services
NEWS RELEASE
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION
TO U.S. WIRE SERVICES
JUNE 24, 2021 | VANCOUVER, BC
NORDEN CROWN ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Vancouver, B.C., June 24, 2021. Norden Crown Metals Corp. (“Norden Crown” or the
“Company”) (TSXV:NOCR, OTC:NOCRF, Frankfurt: 03E) is pleased to announce that it
has closed its previously announced non-brokered private placement (the “Private
Placement”).
Further to its news release of June 21, 2021, the consolidation of the issued and
outstanding common shares of the Company on the basis of three existing common
shares for one new consolidated common share (the “Consolidation”) was effective at
market open on June 23, 2021 (the “Effective Date”).
All securities issued under the Private Placement have been issued on a post-
Consolidation basis as of the Effective Date.
Under the Private Placement, 8,625,617 units of the Company (“Units”) were issued at
$0.30 per Unit on a post-Consolidation basis for total gross proceeds to Norden Crown
of approximately $2.59 million.
Each Unit consists of one common share (a “Common Share”) and one common share
purchase warrant (a “Warrant”), with each Warrant being exercisable for one additional
Common Share at a price of $0.60 on a post-Consolidation basis for a period of 36
months from the date of issue. The expiry date of the Warrants is subject to acceleration,
at the Company’s discretion, if the Company’s shares trade on a volume-weighted
average price basis of $1.80 on a post-Consolidation basis or higher for 10 consecutive
trading days, in which case holders will have 30 days to exercise the Warrants.
All securities issued under the Private Placement are subject to a statutory hold period
expiring four months and one day from the issue date. The TSXV 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 totaling $18,207 and 60,690 Warrants.
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Net proceeds of the Private Placement will be used to carry out an airborne magnetic
survey, geological mapping, geochemical sampling and a phase 2 step out drilling
program at the Company’s Fredriksson Gruva discovery and for general corporate
purposes.
This news release does not constitute an offer to sell or a 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 “1933 Act”),
or any state securities laws and may not be offered or sold within the United States or to,
or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933
Act) absent such registration or an applicable exemption from such registration
requirements.
About Norden Crown Metals Corp.
Norden Crown is a mineral exploration company focused on the discovery of silver, zinc,
copper, and gold 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 an accomplished technical
team, with successful track records in mineral discovery, mining development and
financing.
On behalf of Norden Crown Metals Corp.
Patricio Varas, Chairman and CEO
For more information on Norden Crown please visit the Company website at
www.nordencrownmetals.com or contact us at [email protected].
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. Forward-looking statements may
include, without limitation, statements relating to the use of proceeds of the Private Placement, and the planned
exploration activities on the Fredriksson Gruva project. Although Norden Crown 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: the
proceeds of the Private Placement being used differently than as described herein; risks related to difficulties in
executing exploration programs at the Fredriksson Gruva property on the Company's proposed schedules and within
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its cost and scheduling estimates, whether due to weather conditions, complications arising from the COVID-19
pandemic or the actions of the provincial or federal governments in response thereto; availability or interruption of
power supply; mechanical equipment performance problems; natural disasters or pandemics in the areas where it
operates; risks related to current global financial conditions including market reaction to the coronavirus outbreak;
competition within the industry; actual results of current exploration activities; environmental risks; changes in
project parameters as plans continue to be refined; future price of gold; failure of equipment or processes to operate
as anticipated; accidents, and other risks of the mining industry; delays in obtaining approvals or financing; risks
related to indebtedness and the service of such indebtedness, as well as those factors, risks and uncertainties
identified and reported in the Company’s public filings under Norden Crown's SEDAR profile at www.sedar.com.
Although Norden Crown has attempted to identify important factors that could cause actual actions, events or
results to differ materially from those described in forward-looking information, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not
place undue reliance on forward-looking statements. There can be no assurance that such information will prove to
be accurate as actual results and future events could differ materially from those anticipated in such statements.
Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date.
Norden Crown disclaims any intention or obligation to update or revise any forward-looking information, whether
as a result of new information, future events or otherwise unless required by law.