Iconic Minerals Announces Closing of Gross Proceeds of $3,127,156 Debt Settlement
NEWS RELEASE
NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Iconic Minerals Announces Closing of Gross Proceeds of $3,127,156
Debt Settlement
Vancouver, British Columbia – June 30, 2023 – Iconic Minerals Ltd. (the "Company" or
"Iconic") (TSX-V: ICM) (OTC: BVTEF) (FSE: YQGB ) announces that on June 30, 2023 it
received acceptance from the TSX Venture Exchange to close its debt settlement announced in its
News Release dated April 24, 2023.
In accordance with the provisions of Debt Settlement Agreements signed on April 24, 2023, the
Company has issued a total of 17,263,273 common shares at a deemed price between $0.1792
and $0.1818 per share to settle $3,127,156.50 of outstanding debt.
All of these shares are subject to a hold period under applicable Canadian securities laws expiring
on October 30, 2023, and will be subject to such further restrictions on resale as may apply under
applicable foreign securities laws.
One (1) Insider (the “Related Parties ”) will di rectly and/or indirectly acquire an aggregate of
3,802,017 Shares from the Debt Settlement, which will increase those Related Parties’ pro rata
shareholdings in the Company (the “Related Party Transaction”). All of the independent
directors of the Company, acting in good faith, have determined that the fair market value of the
securities being issued and the consideration paid is reasonable and is exempt from the formal
valuation and minority shareholder approval requirements of Multilateral Instrument 61-101.
On behalf of the Board of Directors
“Richard Barnett”
Richard Barnett, CFO
Contact: (604) 336-8614
For further information on Iconic, please visit our website at www.iconicminerals.com. The
Company's public documents may be accessed at www.sedar.com.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward -looking statements and forward -looking information (collectively,
"forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation,
2
including the United States Private Securities Litigation Reform Act of 1995. All statements, other than
statements of historical fact, included herein in cluding, without limitation, statements with respect to the
Option, the Joint Venture, the amount of the Offering, the expected use of proceeds from the Offering and
the future business plans and exploration activities of the Company, are forward -looking s tatements.
Although the Company believes that such statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking statements are typically identified by words such as:
"will", "believes", "expects", " anticipates", "intends", "estimates", "plans", "may", "should", "potential",
"scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer
to future events or results that may, could, would, might or will occur or be taken or achieved. In making
the forward -looking statements in this news release, the Company has applied several material
assumptions, including without limitation, that investor interest will be sufficient to close the Offering, that
market fundam entals wil l result in sustained precious metals demand and prices, the receipt of any
necessary permits, licenses and regulatory approvals required for the Option Agreement and the future
development of the Company's projects in a timely manner.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to differ materially from any future
results, performance or achievements expressed or implied by the forward-looking information. Such risks
and other factors include, among others, operating and technical difficulties in connection with mineral
exploration and development activities, actual results of exploration activities, including on the Smit h
Creek Property, requirements for additional capital, future prices of lithium and gold, changes in general
economic conditions, changes in the financial markets and in the demand and market price for
commodities, lack of investor interest in future finan cings, accidents, labour disputes and other risks of the
mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of
development or construction activities, risks relating to epidemics or pandemics such as COVI D–19,
including the impact of COVID –19 on the business, financial condition and exploration and development
activities of the Company, changes in laws, regulations and policies affecting mining operations, title
disputes, the inability of the Company to ob tain any n ecessary permits, consents, approvals or
authorizations, including of the TSX Venture Exchange in respect of the Option Agreement and the
Offering, the timing and possible outcome of any pending litigation, environmental issues and liabilities,
and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's
latest interim Management's Discussion and Analysis and filed with the Canadian Securities Authorities.
All of the Company's Canadian public disclos ure filings may be accessed via www.sedar.com and readers
are urged to review these materials, including the technical reports filed with respect to the Company's
mineral properties.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the
forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.