Private Placement Financing September 24 , 201 9 –
Happy Creek
Completes
Private Placement Financing
September 24
, 201
9
–
Vancouver, British Columbia
–
Happy Creek Minerals Ltd. (TSX
-
V:HPY, the
“
Company
”)
is pleased to
announce
that it has completed its
non
-
brokered private placement financing
of
6,793,572
flow
-
through common shares at a price of $0.
1
4
per share for gross proceeds of
$951,100
and
4,779,664
common shares at a price of $0.
1
2
per shar
e for gross proceeds of
$573,560 for total gross
proceeds of $1,524,660
(the
“Offering
”).
In connection with the O
ffering, the Company paid finder’s fees totalling $109,189 in cash and issued
618,000 broker warrants. Each broker warrant is exercisable into one common share of the Company at a
price of $
0.17 per share for a period of two years.
Canaccord Genuity Corp. acted as advisor on a portion of
the Offering.
The net proceeds of the private placement will be used to conduct mineral exploration work that qualifies as
Flow Through Exploration Expense
under the
Income Tax Act
(Canada), and for general working capital and
additional exploration, engineering or development work contemplated by the Company. Exploration
expenditures will be primarily focussed on the Company’s Fox tungsten and Highland Valle
y copper
properties.
The securities
issued in connection with the O
ffering are subject to resale restrictions expiring on January 24,
2020.
In connection with the non
-
brokered private placement, the Company issued a total of 1,219,666 common
shares to
persons that are directors or senior officers of the Company. The Company has determined that
exemptions from the various requirements of TSX Venture Exchange Policy 5.9 and Multilateral Instrument
61
-
101 (“
MI 61
-
101
”) are available for the issuance of the
common shares to these related parties.
The
Company is relying on the exemptions from the formal valuation and minority approval requirements
contained in Sections 5.5(a) and 5.7(1)(a) of MI 61
-
101
,
on the basis that the fair market value of the
transacti
on does not exceed 25% of the Company’s market capitalization
.
On behalf of the Board of Directors,
“David E Blann”
____________________
David E Blann, P.Eng.
President, CEO
FOR FURTHER
INFORMATION,
PLEASE CONTACT:
David Blann, President, CEO
Corporate Office:
Phone:604.662.8310
Email:
Website:
www.happycreekminerals.com
Neither the TSX Venture Exchange nor its Regul
ation 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.