Mich Resources Annouces Private Placment Financing
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MICH RESOURCES LTD.
SUITE 3123 – 595 BURRARD STREET
VANCOUVER, BC V7X 1J1
TEL: 604-609-6110
MICH RESOURCES ANNOUCES PRIVATE PLACMENT FINANCING
August 14, 2023 CSE – MICH
Vancouver, British Columbia – Mich Resources Ltd. (CSE: MICH) (the “Company”) is pleased to announce
that it intends to complete a non -brokered private plapcement financing for aggregate proceeds in an
amount up to $1,150,000 (the “Offering”). The Offering is comprised of flow through shares at a price of
$0.125 per flow through share, and Units at a price of $0.10 per Unit. Each Unit is comprised of one
common share of the Company and one half common share purchase warrant (a “Warrant”). Each whole
Warrant entitles the holder to purchase one non-flow through common share of the Company (a “Warrant
Share”) for a period of 36 months from closing of the Offering at a price of $0.15 per Warrant Share. The
Offering is expected to close on or around August 22, 2023.
The securities offered pursuant to the Offering will be subject to a statutory hold period of four months
and a day from the date of issuance. The Company may pay a finder's fee on a portion of the gross
proceeds of the Offering.
The Offering is being completed as a condition to the completion of the acquisition (the “Acquisition”) of
an option to purchase a 100% interest in Pavey Ark Minerals Inc. ’s Chrome-Puddy Property and Danby
Triangle Property pursuant to a definitive agreement announced in the Company’s news release dated
January 31, 2023. It is anticipated that the Acquisition will close in the fourth quarter of 2023.
About the Company
The Company is a British Columbia public company with a registered office at 25th Floor, 700 West Georgia
Street, Vancouver, BC, V7Y 1C3. The Company’s common shares are listed on the Canadian Securities
Exchange (CSE) under the trading symbol “MICH” and r eporting in British Columbia and Ontario. The
Company is principally engaged in the acquisition and exploration of mineral properties.
On behalf of Mich Resources Ltd.
“David Suda”
President and Chief Executive Officer
For more information, please contact:
David Suda
President and Chief Executive Officer
Tel: 604.928.3101
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Neither the Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the
policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward Looking Information
Certain statements and information herein, including all statements that are not historical facts, contain
forward-looking statements and forward-looking information within the meaning of applicable securities
laws. Such forward -looking statements or information include but are not limited to statements or
information with respect to: the proposed Offering and Acquisition; general business and economic
conditions.
Although management of the Company believe that the assumptions made and the expectations
represented by such statements or information are reasonable, there can be no assurance that forward -
looking statements or information herein will prove to be accurat e. Forward -looking statements and
information by their nature are based on assumptions and involve known and unknown risks, uncertainties
and other factors which may cause actual results, performance or achievements, or industry results, to be
materially different from any future results, performance or achievements expressed or implied by such
forward-looking statements or information. These risk factors include, but are not limited to: the Offering
and Acquisition may not close on the terms and timing set forth herein, or at all; risks relating to the receipt
of all requisite approvals for the Acquisition, including the approval of the Exchange and shareholders;
risks associated with the business of the Company; business and economic conditio ns in the mining
industry generally; changes in general economic conditions or conditions in the financial markets; changes
in laws (including regulations respecting mining concessions); and other risk factors as detailed from time
to time.
The Company does not undertake to update any forward-looking information, except in accordance with
applicable securities laws.