Hercules Resources Corp Closes CAD$5-Million Equity Capital Facility with Crescita Capital LLC
Hercules Resources Corp Closes CAD$5-Million Equity Capital Facility
with Crescita Capital LLC
Trading Symbol: HERC (CSE)
Vancouver BC, April 29th, 2024 - Hercules Resources Corp (“H ercules” or the “Company”) , is
pleased to announce, further to its press releases dated April 9, 2024 and April 23, 2024 , it has
now paid to Crescita Capital LLC . (“Crescita”), (ii) a commitment fee $300,000 through the
issuance of 1,142,857 common shares of the Company at a deemed price of $0.2625 per share
(the “Commitment Fee”) and (ii) an initial consulting fee of $2,500, which will be paid through
the issuance of 9,524 common shares at a deemed price of $0.2625 per share (collectively the
“Securities”).
As previously announced the Commitment Fee secures a non-revolving equity drawdown
facility in the aggregate amount of up to $5 million (the “Equity Investment Facility”) pursuant
to an amended and restated investment and advisory agreement (the “Agreement”).
The Company obtained written approval for the Equity Investment Facility, the Agreement and
the transactions contemplated thereunder from shareholders holding more than 50% of the
outstanding shares of the Company, as required by the policies of the CSE.
The Securities issued to Crescita are not subject resale restrictions under applicable securities
laws. The Company obtained a waiver from the CSE in respect of s. 6.1(4)(a) of the CSE’s
policies, which would otherwise have required the application of a 4 -month hold period on the
Fee Shares and the Consulting Fee Shares. The Company intends to seek similar waivers for all
other securities issued under the Equity Investment Facility from time to time.
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 “U.S. Securities Act”) or any
state securities laws and may not be offered or sold within the United States unless registered
under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
About Crescita Capital LLC:
Crescita is an investment and consultancy group that provides alternative financing and
corporate development services for seed to growth -stage companies in emerging markets
around the world. Committed to partnering with promising businesses, Crescita provides
flexible capital solutions to fuel growth and drive success. For more information, visit
www.crescita.capital.
About Hercules Resources Corp:
Hercules is a Canadian gold exploration company engaged in the acquisition, exploration and
development of projects located in highly prospective and mining friendly nations of Ecuador
and Canada.
The Company is dedicated to delivering value to its stakeholders through innovation,
operational excellence, and sustainable practices.
For further information, contact.
Michael Smith, President, and Chief Executive Officer
(855) 791-GOLD (4653)
www.herculesresourcescorp.com
The information in this news release includes certain information and statements about management's view of
future events, expectations, plans, and prospects that constitute forward-looking statements. These statements are
based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and
uncertainties and because of a variety of factors, the actual results, expectations, achievements, or performance
may differ materially from those anticipated and indicated by these forward -looking statements. Forward-looking
statements in this news release include, but are not limited to, the Company’s proposed use of the proceeds of its
offering. Any number of factors could cause actual results to differ materially from these forward -looking
statements as well as future results. Although the Company believes that the expectations reflected in forward -
looking statements are reasonable, it can give no assurances that the expectations of any forward -looking
statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes
no obligation to update or revise any forward-looking statements to reflect actual results, whether because of new
information, future events, changes in assumptions, changes in factors affecting such forward -looking statements,
or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.