Exploits Closes Final Tranche of It’S $4 Million Private Placement
EXPLOITS CLOSES FINAL TRANCHE OF IT’S $4 MILLION PRIVATE PLACEMENT
Vancouver, British Columbia – March 30, 2021 - Exploits Discovery Corp. (“Exploits” or the
“Company”) (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634-FF) is pleased to announce that it has closed
the final tranche of its non -brokered private placement previously announced on February 25 th,
26th and March 15, 2021 (the “Offering”) . The Company has raised an additional $ 1,058,025
through the issuance of 2,351,167 units (the “NFT Units”) at a price of $0.45 per NFT Unit for a
total raise of $1,667,210 in NFT Units. The Company also issued an additional 65,000 flow through
units (the “FT Units”) at a price of $0.49 per FT Unit for a total raise of $2,319,410 in FT units. The
total value of the NFT and FT units raised was $3,986,620.
Each NFT Unit is comprised of one common share and one share purchase warrant. Each FT Unit
is comprised of one flow through common share and one share purchase 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 expiring March 30, 2023. If the closing price of the common shares of
the Company is higher than $1.00 for a period of 20 consecutive trading days at any time after
six months following the closing date, the Company can accelerate the expiry date of the
warrants to that date which is 30 days after the Company gives notice of such acceleration.
As part of the Offering, Exploits issued FT Units for aggregate gross proceeds of $ 1,850,350 to
certain funds managed by Sprott Asset Management LP, Middlefield Capital Corp., and Maple
Leaf Funds.
The Company engaged Canaccord Genuity Corp. (“Canaccord”) to act as financial advisor for the
Offering and issued 111,111 NFT Units to Canaccord in pa yment of their financial advisory fee.
These NFT Units are on the same terms as the securities issued in this Offering.
In connection with the closing of the final tranche t he Company paid $ 20,579.99 and issued
45,732 finder warrants as finders’ fees. The finder warrants are exercisable at a price of $0.67 for
a period of two years expiring March 30, 2023. In connection with the first tranche closing,
Exploits also paid additional finders’ fees of $3,150 and issued 7,000 finder warrants exercisable
at a price of $0.67 for two years expiring March 15, 2023.
All securities issued are subject to a four month hold period expiring July 31, 2021 , with the
exception of the 7,000 finder warrants in connection with the first tranche closing which are
subject to a hold period expiring July 16, 2021.
The proceeds from the NFT 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 FT Units will be used to incur qualifying expenditures on the Company’s properties.
#1100-595 Howe Street, Vancouver, BC, V6C 2T5
(+1) 604-681-3170
CSE: NFLD
About Exploits Discovery Corp.
Exploits Discovery is a Canadian mineral exploration company focused on the acquisition and
development of mineral projects in Newfoundland, 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 discoveries such as New Found Gold's 2019 discovery of
92.86 g/t Au over 19.0 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. Exploits is financed and with two of five drill permits in
place for an extensive drill program in the Spring of 2021.
The team at Exploits, with significant local experience and knowledge, have studied the entirety
of the Exploits Subzone and picked individual land packag es for staking or joint venture where
there is an opportunity for world class discoveries and mine development. Exploits intends to
leverage its local 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
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the
policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news
release.