Exploits Announces $4 Million Non-Brokered Private Placement
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EXPLOITS ANNOUNCES $4 MILLION NON-BROKERED PRIVATE PLACEMENT
Vancouver, British Columbia – February 25, 2021 - Exploits Discovery Corp. (“Exploits” or the
“Company”) (CSE: NFLD) (OTCQB: RNRRF) (FSE: 634 -FF) is pleased to announce a non-brokered
private placement of $4,000,000 (the “Offering”) through the issuance of up to 3,333,333 units
(the “Units”) at a price of $0.45 per Unit and up to 5,102,040 flow through common shares (the
“Flow Through Shares”) at a price of $0.49 per Flow Through Share. Each Unit will be comprised
of one common share and one share purchase warrant (a “Warrant”). Each Warrant entitles the
holder to purchase one common share of the Company at a price of $0.67 per share for a period
of two years from the closing of the Offering. If the closing price of the common shares of the
Company is higher than $1.00 for a period of 20 consecutive tra ding days at any time after six
months following the closing date, the Company can accelerate the expiry date of the Warrants
30 days after the Company gives notice of such acceleration. The proceeds from the Units will be
used for exploration on the Company’s properties, acquisition of additional properties, marketing
and general working capital. The proceeds from the sale of the Flow Through Shares will be used
to incur qualifying expenditures on the Company’s properties.
About Exploits Discovery Corp.
Exploits Discovery is a Canadian mineral exploration company focused on the acquisition and
development of mineral projects in Newfoun dland, Canada. The Company currently holds the
Jonathan's Pond, Dog Bay, Mt. Peyton, Middle Ridge, True Grit, Great Bend and Gazeebow
projects which cumulatively cover an area of approximately 2,111 square kilometres.
All projects within Exploits’ portfolio lie within the Exploits Subzone.
Exploits believes that the Exploits Subzone, which runs 200 km from Dog Bay southwest to
Bay d'Espoir, has been neglected since the last major exploration campaigns in the 1980s. The
last 40 years have seen incremental advancements in the understanding of gold mineralization
in the camp. The sum of this knowledge is now coming together in discrete and effective
exploration models that have delivered discovery such as New Found Gold's 2019 discovery of
92.86 g/t Au over 1 9.0 metres near surface. The Exploits Subzone and GRUB regions have been
the focus of major staking and financing throughout 2020, with increased exploration activities
forecasted in the area moving into 2021.
The team at Exploits, with significant local experience and knowledge, have studied the entirety
of the Exploits Subzone and picked individual land packages for staking or joint venture where
there is an opportunity for world class discoveries and mine development. Exploits intends to
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leverage its l ocal team and the larger shift in understanding and become one of the most
extensive explorers in the Exploits Subzone.
ON BEHALF OF THE BOARD
/s/ "Michael Collins "
President and CEO
For further information, please contact:
Michael Collins, CEO
Tel: (604) 681-3170
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policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news
release.