Blue Moon Announces Closing of Private Placement
MOON:TSX-V
BMOOF:OTCQB
Blue Moon Announces Closing of Private Placement
August 30, 2024 – Blue Moon Metals Inc. (TSXV: MOON; OTCQB: BMOOF) (the “Company”) is
pleased to announce that, further to its news release s of August 15, 2024 and August 21, 2024,
it has closed the private placement of 26,400,000 common shares (the “ Common Shares”) at a
price of $0.035 per Common Share (the “Private Placement”) for aggregate gross proceeds of
$924,000.
The use of proceeds from the Private Placement will be utilized as follows: Blue Moon Project,
which expenditures are expected to include permitting, a geological review, engineering studies
and/or geophysics (approximately 60%) and the remaining amount for general working capital,
including regulatory, legal, and other fees associated with closing the Private Placement
(approximately 40%). None of the proceeds raised will be used to pay “Non-Arm’s Length Parties”
or to fund “Investor Relations Activities” (as each is defined in the policies of the TSX Venture
Exchange).
On closing, Patrick McGrath, the CEO of the Company acquired 2,142,857 Common Shares. Such
participation is considered a “related party transaction” within the meaning of Multilateral
Instrument 61 -101 – Protection of Minority Security Holders in Special Transactions (“MI 61 -
101”). The Company is relying on the exemptions from the formal valuation and minority
shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI
61-101 in respect of the Private Placement due to the fair market value of the related party
participation being below 25% of the Company’s market capitalization for purposes of MI 61-101.
No finder's fee was paid in connection with the Private Placement. All Common Shares issued
under the Private Placement are subject to a hold period expiring December 31 , 2024, in
accordance with applicable securities laws and the policies of the TSX Venture Exchange . In
accordance with the policies of the TSX Venture Exchange, the Company is relying on a minimum
pricing exception to issue securities at less than $0.05 per listed security.
The securities described herein 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
accordingly, may not be offered or sold within the United S tates except in compliance with the
registration requirements of the U.S. Securities Act and applicable state securities requirements
or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a
solicitation to buy any securities in any jurisdiction.
MOON:TSX-V
BMOOF:OTCQB
About Blue Moon Metals
Blue Moon Metals is advancing its Blue Moon polymetallic deposit which contains zinc, gold,
silver and copper. The property is well located with existing local infrastructure including paved
highways three miles from site; a hydroelectric power generation facility a few miles from the
site, a three-hour drive to the Oakland port and a four -hour drive to the service centre of Reno.
Zinc is currently on the USGS list of metals critical to the US economy and national security. The
Company also holds the Yava p olymetallic project in Nunavut that is in the same volcanic
lithologies and south of Glencore’s Hackett River deposit. More information is available on the
company’s website (www.bluemoonmetals.com).
For more information, please contact:
Patrick McGrath, CEO
1-832-499-6009
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward -looking statements within the meaning of applicable securities law.
Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend",
"believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or
"will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the
statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual
events or results to differ materially from those projected in the forward -looking statements. The Company cannot
assure that actual results will be consistent with these forward-looking statements. They are made as of the date hereof
and are subject to change and the Company assumes no obligation to revise or update them to reflect new
circumstances, except as required by law. Prospective investors should not place undue reliance on forward looking
statements. These factors include the inherent risks involved in the resource industry.