Cumberland Resources Announces Closing of $749,919.45 LIFE OFFERING
Cumberland Resources Announces Closing of $749,919.45 LIFE O!ering
Toronto, Ontario--(Newsfile Corp. - November 28, 2024) - Cumberland Resources Nickel
Corp. (CSE: LAND) (the "Company" or "Cumberland") is pleased to announce that, further to its
news release dated November 12 th , 2024 (the "November 12 th Release"), the Company has closed
its non-brokered private placement financing (the "LIFE O1ering") pursuant to the listed issuer
financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions ("NI 45-
106") for gross proceeds of $749,919.45 Capitalized terms not otherwise defined herein have the
meanings attributed to them in the November 12 th Release. Pursuant to the LIFE O1ering, the
Company issued an aggregate of 24,997,315 Units at a price of $0.03 per Unit.
Each Unit consisted of one common share of the Company (each a "Common Share") and one-half
of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles
the holder to acquire one additional Common Share at an exercise price of $0.05 for a period of 12
months following the closing of the Life O1ering ("Closing Date").
The Company intends to use the net proceeds from the LIFE O1ering for property development,
general working capital purposes, subject to compliance with the polices of the Canadian
Securities Exchange (the "CSE").
In connection the LIFE O1ering, the Company: (i) paid an aggregate of $40,944.36 and (ii) issued an
aggregate of 1,364,812 non-transferrable finder's units (each, a "Finder's Unit") to eligible finders.
Each Finder's Unit entitles the holder to acquire on Unit at an exercise price of $0.03 for a period of
12 months.
In accordance with Part 5A of NI 45-106 and applicable Canadian securities laws, the securities
issued pursuant to the LIFE O1ering are not subject to any statutory hold period.
None of the securities have been registered under the U.S. Securities Act, or any state securities
laws. Accordingly, the Units may not be o1ered or sold within the United States, its territories or
possessions, any state of the United States or to, or for the account or benefit of, U.S. persons (as
such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S.
Securities Act and all applicable state securities laws or an exemption from such registration
requirements is available. This press release does not constitute an o1er to sell or a solicitation of
an o1er to buy any Units within the United States or to, or for the account or benefit of, U.S.
persons.
For additional information, please contact:
Binyomin Posen
Director
416 481-2222
About Cumberland Resources.
Cumberland Resources Nickel Corp. is committed to acquiring, exploring, and advancing mineral
properties that address critical resource needs in North America. The company holds a 100%
interest in the St. Anthony Property, a prospective mineral asset located in Newfoundland, Canada,
strategically positioned in a region known for its rich mineral potential. Recently, Cumberland
expanded its portfolio by staking land in Darling Township, southeastern Ontario, approximately 300
km east-northeast of Toronto. This new property is focused on critical mineral exploration, with an
emphasis on antimony. The area boasts excellent infrastructure, including hydroelectric power,
well-developed road networks, and access to a highly skilled workforce, creating an optimal
environment for exploration and development.
Forward-Looking Statement
Certain information in this news release constitutes forward-looking statements under applicable
securities laws. Any statements that are contained in this news release that are not statements of
historical fact may be deemed to be forward-looking statements. Forward-Looking statements are
often identified by terms such as "may," "should," "anticipate," "expect," "potential," "believe,"
"intend" or the negative of these terms and similar expressions. Forward-Looking statements in this
news release include statements relating to: the exploration and development of the Company's
claims and properties, including the Company's St. Anthony Property, and the potential value of
such properties to the Company and its shareholders.
Forward-Looking information in this press release is based on certain assumptions and expected
future events, namely: the Company's ability to carry out exploration and development of the
Company's claims and properties, including the St. Anthony Property, and the Company's ability to
realize on the potential value of such properties for the Company and its shareholders.
These statements involve known and unknown risks, uncertainties, and other factors, which may
cause actual results, performance, or achievements to di1er materially from those expressed or
implied by such statements, including but not limited to: the Company's inability to carry out
exploration and development of the Company's claims and properties, including the St. Anthony
Property, and the Company's inability to realize on the potential value of such properties for the
Company and its shareholders.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to
place undue reliance on forward-looking statements, as there can be no assurance that the plans,
intentions, or expectations upon which they are placed will occur. Such information, although
considered reasonable by management at the time of preparation, may prove to be incorrect, and
actual results may di1er materially from those anticipated.
Forward-Looking statements contained in this press release are expressly qualified by this
cautionary statement and reflect the Company's expectations as of the date hereof and are subject
to change thereafter. The Company undertakes no obligation to update or revise any forward-
looking statements, whether as a result of new information, estimates or opinions, future events or
results, or otherwise, or to explain any material di1erence between subsequent actual events and
such forward-looking information, except as required by applicable law.
Neither the Canadian Stock Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the Canadian Stock Exchange) accepts responsibility for the adequacy or
accuracy of this release.
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION
IN THE UNITED STATES.