Mosaic Announces Closes Private Placement
MOSAIC MINERALS PRIVATE PLACEMENT CLOSED
Vancouver, British Columbia – February 2 4, 202 1 – M. Maurice Giroux, President and CEO of Mosaic Minerals Corp.
(“Mosaic” or the “Company”) (CSE: MOC) is pleased to announce:
Private Placement Closed
Further to Mosaic’s news release of January 27, 2021 the Company has closed its non-brokered private placement issuing
3,575,000 units for gross proceeds of $286,000. Each unit is comprised of one common share and one two -year share
purchase warrant exercisable until February 23, 2023 at $0.15 per share. Finder’s fees of $ 18,440 were paid and 321,000
finder’s warrants were issued to three arm’s length parties. The finder’s warrants are exercisable at $0.15 per share for two
years. All securities issued are subject to an investment hold period expiring June 23, 2021. The net proceeds of the financing
with be used to advance the exploration of the Company ’s properties in the Chibougamau area, and for general working
capital purposes.
About Mosaic Minerals
The Company holds three 100% owned claims blocks (Chrisafy, Philibert-1 and Opawica) in the Chibougamau mining district,
Nord-du-Québec, within the famous Abitibi Greenstone Belt that hosts Iamgold’s Nelligan and Monster Lake gold deposits
as well as the Northern Superior’s recent Lac Surprise discovery, a few kilometers to the north.
Chrisafy, Philibert-1, Opawica Gold Projects
https://mosaicminerals.ca/?page_id=96
The Company also holds 100% in the 16 claim Canalask property (770 hectares) to the North West shore of Lake Dunphy
located 150 km NNW of Shefferville in SNRC 24B04. The Canalask Property hosts 2 well-documented multi-metallic showings
namely, the Canalask and the Lac Dunphy surface showing of copper, zinc, silver and gold.
Canalask Project
https://mosaicminerals.ca/?page_id=92
About Mosaic Minerals Corporation
Mosaic Minerals Corp., founded in 2018, is a Canadian mineral exploration company focused on unlocking the potential of
former Stellar AfricaGold Inc. “Stellar” Opawica Gold Project (“Opawica”) which is located in Québec’s renowned and very
prolific Chibougamau mining district, Nord-du-Québec, within the famous Abitibi Greenstone Belt.
Mosaic is gold-focused concentrating its exploration efforts where the Company’s growth potential is the strongest. After
incorporation Mosaic acquired Stellar’s Opawica project in a 100% share deal. Mosaic then completed a Plan of Arrangement
with Stellar establishing a shareholder base of more than 1,000 new Mosaic shareholders. Since the acquisition Mosaic has
actively explored Opawica completing its Phase I exploration program at the end of 2019 with results that warrant advancing
with a Phase II program.
The technical content of this press release has been reviewed and approved by Éric Allard, an independent consultant and
a Qualified Person as defined in NI 43-101.
On Behalf of the Board
Maurice Giroux BSc
President & CEO
Contact: Maurice Giroux at 1-514-952-5709 or [email protected]
www.mosaicminerals.ca
This release contains certain "forward -looking information" under applicable Canadian securities laws concerning the Arrangement. Forward -looking
information reflects the Company’s current internal expectations or beliefs and is based on information currently available to the Company. In some cases
forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate",
"projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. As sumptions upon which such
forward-looking information is based includes, among others, that the conditions to closing of the Arrangement will be satisfied and that the Arrangement
will be completed on the terms set out in the definitive agreement. Many of these assumptions are based on factors and events that are not within the
control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially
from those predicted herein include, without limitation: that the remaining conditions to the Arrangement will not be satisfied; that the business prospects
and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other comm odities (such as diesel,
aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative
instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining ta x regimes; ability to successfully
integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical
difficulties in connection with mining or development activities; laws and reg ulations governing the protection of the environment; employee relations;
availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and develop ment; contests over title to
properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. Risks and unknowns
inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and op erating costs of such projects,
and the future prices for the relevant minerals.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture Exchange) accepts
responsibility for the adequacy or accuracy of this release.