Murchison Minerals Closes Early Warrant Incentive Program
News Release
Murchison Minerals Closes Early Warrant Incentive Program
April 19 th, 2022 (Burlington, ON): Murchison Minerals Ltd. (“Murchison” or the “Company”)
(TSXV: MUR, OTCQB: MURMF) is pleased to report that 10,657,500 warrants were converted by
warrant holders during the Early Warrant Incentive Program (the “Program”) announced on March
17, 2022, for gross proceeds of $1,278,906. The Program ended April15, 2022.
The Program was designed to encourage the early exercise of up to 27,118,788 outstanding
warrants (the “Warrants“) all exercisable at $0.12 for common shares of the Company (“Common
Shares“). A total of 2,005,000 from the 5,000,000 Warrants expiring on September 5, 2022, and
8,652,550 from the 22,118,788 Warrants expiring on October 21, 2022, were exercised.
As part of the Program, Murchison issued 5,328,775 incentive warrants entitling the holders to
purchase one additional Common Share until April 1 5, 2023, at a price of $0. 18. The incentive
warrants are subject to a four month hold period from the date of issuance ranging from July 24,
2022, to August 15, 2022.
Insiders Participation:
Mr. Donald K Johnson, Director and largest shareholder of Murchison, Mr. Troy Boisjoli, President
and CEO and Jean-Charles Potvin, Executive Chairman participate in the Program and exercised
an aggregate 9,436,550 warrants for gross proceeds of $1,132,386
The exercise of warrants by Mr. Johnson, Mr. Boisjoli and Mr. Potvin constitutes a “related party
transaction” as defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders
in Special Transactions (“MI 61 -101”), as insiders of the Company acquire d an aggregate
9,436,550 common shares following the exercise of w arrants and acquire 4, 718,275 new
warrants in the process . The Company is relying on the exemptions from the 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, as the fair market value of the participation in the Program by insiders
does not exceed 25% of the market capitalization of the Company, as determined in accordance
with MI 61 -101. The Company will file a material change report in respect of the related party
transaction following the exercise of warrants under the Program.
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. The
Company also holds an option to earn 100% interest in the Barraute VMS exploration project also
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MURCHISON MINERALS LTD. NEWS RELEASE
located in Quebec, north of Val d’Or. Murchison currently has 1 70.5 million shares issued and
outstanding.
Additional information about Murchison and its exploration 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
Tel: (416) 350‐3776
CHF Capital Markets
Thomas Do, IR Manager
Tel: (416) 868-1079 x 232
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 me thods used with respect to
the assay results; the prospects, if any, of the deposits ; future prospects at the deposits; and the significance of exploration activities 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 implied by
such FLI. Although the FLI contained in this press release is based upon what management believes, or believed at the time, to be reaso nable
assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual resul ts will be consistent
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. Ex cept 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 ma y 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, uncertaint ies or other factors
materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI. As sumptions 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 d eposits; the accuracy of key
assumptions, parameters or methods used to obtain the assay results; the ability of the Company to obtain required approvals; the results of exploration
activities; the evolution of the global economic climate; metal prices; environmental expectations; community and nongovernme ntal actions; and any
impacts of COVID-19 on the d eposits, 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,
which 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 Exc hange) accepts
responsibility for the adequacy or accuracy of this release.