Murchison Minerals Announces Non-Brokered Private Placement
News Release
Murchison Minerals Announces Non-Brokered Private
Placement
July 11 th , 202 3 (Burlington, ON): Murchison Minerals Ltd. (“Murchison” or the “Company”)
(TSXV: MUR, OTCQB: MURMF) is pleased to announce that, subject to all regulatory approvals, it
intends to raise up to $1,500,000 in a non -brokered private placement (the “ Offering”), with the
proceeds directed towards the Company’s 2023 exploration activities at its 100%-owned BMK Zn-
Cu-Ag project in Sas katchewan and 100%-owned HPM nickel-copper-cobalt property in Eastern
Quebec as well as working capital.
Pursuant to the Offering, the Company will issue Hard Dollar units (“HD Units”) at a price of $0.06
per HD Unit, Quebec flow-through units (“QFT Units”) at a price of $0.07 per QFT Unit and National
flow-through units (“ NFT Units”) at a price of $0. 065 per NFT Unit, in any combination to raise
aggregate gross proceeds of up to $1,500,000.
Each HD Unit will be comprised of one common share of the Company (a “Common Share”) and
one-half of a common share purchase warrant (each whole warrant, a “Warrant”) and each QFT
Unit and NFT Unit will be comprised of one flow -through common share of the Company (a “FT
Common Share”) and one-half of a Warrant. Each whole Warrant shall be exercisable to acquire
one additional Common Share at a price of $0. 10 for a period of 24 months from the date of
closing of the Offering.
A finder’s fee may apply to a portion of the proceeds raised under the Offering in the amount of
6% cash and 6% finders’ warrants. All securities issued pursuant to the Offering will be subject to
a four month hold period from the date of issue.
It is anticipated that Donald K. Johnson, a director and control person of the Company will acquire
a certain number of Units under the Offering to maintain his current ownership at arou nd 30%.
Any such participation will be considered a “related party transaction ” as defined under
Multilateral Instrument 61-101 (“MI 61-101”). It is anticipated that the transaction will 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 TSXV and that the fair
market value of the Offering, insofar as it involves interested parties, will not exceed $2,500,000
or 25% of the market capital ization of the Company. The Offering was approved by all
independent directors of the Company.
Mr. Troy Boisjoli, Murchison Minerals President, CEO, and Director comments:
“Murchison is in a great position, having two key assets with BMK and HPM, located in Canada’s
top mining jurisdictions, Saskatchewan, and Quebec, respect ively. At a time when critical
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MURCHISON MINERALS LTD. NEWS RELEASE
minerals like nickel, copper, cobalt, and zinc are in continuing high demand globally the Company
is excited to advance both of its projects over the course of 2023.”
About Murchison Minerals Ltd. (TSXV: MUR, OTCQB: MURMF)
Murchison is a Canadian‐based exploration company focused on nickel -copper-cobalt
exploration at the 100% - owned HPM Project in Quebec and the exploration and development of
the 100% - owned Brabant Lake zinc‐copper‐silver project in north‐central Saskatchewan.
Murchison currently has 218.2 million shares issued and outstanding.
Additional information about Murchison and its ex ploration projects can be found on the
Company’s website at www.murchisonminerals.ca . For further information, please contact:
Troy Boisjoli, President and CEO or
Erik H Martin, CFO
Justin Lafosse, Director Corporate Development
Tel: (416) 350‐3776
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 whic h 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. FLI herein
includes, but is not limited to: future drill results; stakeholder engagement and relationships; parameters and methods used with respect to the assay
results; the prospects, if any, of the deposits; future prospects at the deposits; and the significance of exploration activi ties and results. FLI is designed
to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their
nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any future results, performance or achievements expressed or i mplied by such FLI.
Although the FLI contained in this press release is based upon what management believes, or believed at the time, to be reasonable assumptions, the
Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consis tent with such FLI, as
there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes
responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no
obligation, to update or revise any such FLI contained herein to reflect new events or circumstances, except as may be required by law. Unless otherwise
noted, this press release has been prepared based on information available as of the date of this press release. Accordingly, you should not place undue
reliance on the FLI or information contained herein. Furthermore, should one or more of the risks, uncertainties or other fac tors materialize, or should
underlying assumptions prove incorrect, actual results may vary materially from those described in FLI. Assumptions upon which FLI is based, without
limitation, include: the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company
to complete further exploration activities; the legitimacy of title and property interests in the deposits; the accuracy of key a ssumptions, parameters or
methods used to obtain the assay results; the ability of the Company to obtain required approvals; the re sults of exploration activities; the evolution of
the global economic climate; metal prices; environmental expectations; community and nongovernmental actions; and any impacts of COVID-19 on the
deposits, the Company’s financial position, the Company’s ability to secure required funding, or operations. Risks and uncertainties about the Company’s
business are more fully discussed in the disclosure materials filed with the securities regulatory authorities in Canada, whi ch are available at
www.sedar.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchang e)
accepts responsibility for the adequacy or accuracy of this releas e.