Murchison Increases Non-Brokered Private Placement to $700,000
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MURCHISON MINERALS LTD. NEWS RELEASE
News Release
Murchison Increases Non-Brokered Private Placement to $700,000
February 16, 2021 (Toronto, Ontario): Murchison Minerals Ltd. (“Murchison” or the “Company”) (TSXV:
MUR) announces the increase of the non -brokered private placement (“the Private Placement”) to
$700,000 (see press release dated February 12, 2021). The Private Placement is subject to all regulatory
approvals with the net proceeds directed towards exploration, working capital and for other general and
administrative costs.
The Company now proposes to issue up to 8,750,000 units (the “Units”) at a price of $0.08 per Unit. Each
Unit will consist of one common share of the Company (a “Common Share”) and one-half of one Common
Share purchase warrant. Each whole common share purchase warrant (a “ Warrant”) will entitle the
holder to acquire one additional Common Share (a “Warrant Share”) for a period of eighteen (18) months
from the date of closing (the “Closing Date”) at an exercise price of $0.12 per Warrant Share.
A finder’s fee may apply to a portion of the proceeds raised under the Private Placement in the amount
of 6% cash. All securities issued pursuant to the Private Placement will be subject to a four month and one
day hold period from the date of issue in accordance with applicable securities laws. Proceeds from the
Private Placement will be used by the Company for exploration, working capital and for other general and
administrative costs.
It is anticipated that a director of the Company will acquire up to 3,750,000 Units under the Private
Placement. Any such participation will be considered to be a "related party transaction" as defined under
Multilateral Instrument 61 -101 (" MI 61 -101”). The transaction w ould be exempt from the formal
valuation and minority shareholder approval requirements of MI 61 -101 based on a determination that
the securities of the Company are listed on the TSX Venture Exchange (“ TSXV”) and that the fair market
value of the Private Placement, insofar as it involves interested parties, would not exceed $2,500,000 or
25% of the market capitalization of the Company. The Private Placement was approved by all independent
directors of the Company.
About Murchison Minerals Ltd. (TSXV: MUR)
Murchison is a Canadian-based exploration company focused on the exploration and development of the
100%-owned Brabant-McKenzie zinc-copper-silver project in north-central Saskatchewan. The Company
also has a 100% interest in the HPM nickel- copper-cobalt project in Quebec. Murchison has 98.9 million
shares issued and outstanding.
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MURCHISON MINERALS LTD. NEWS RELEASE
Additional information about Murchison and its exploration projects can be found on the Company’s
website at www.murchisonminerals.com. For further information, please contact:
Jean-Charles (JC) Potvin, President and CEO or Erik H Martin, CFO
Tel: (416) 350-3776
CHF Capital Markets
Cathy Hume, CEO
Tel: 416-868-1079 x 251
Forward‐Looking Information
Certain information set forth in this news release may contain forward‐looking information that involves substantial known and unknown risks and uncertainties.
This forward‐looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited
to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used i n
the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not
be placed on forward‐looking information. The parties undertake no obligation to update forw ard‐looking information except as otherwise may be required by
applicable securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exc hange) accepts responsibility for the
adequacy or accuracy of this release.