Murchison Minerals Closes Fully Subscribed Private Placement and Welcomes HCC Group as Strategic Investor
News Release
Murchison Minerals Closes Fully Subscribed Private Placement
and Welcomes HCC Group as Strategic Investor
August 12 th, 2024 (Burlington, ON): Murchison Minerals Ltd. (“Murchison” or the “Company”)
(TSXV: MUR) is pleased to announce that further to its press release dated May 30th and July 21st,
2025, the Company has closed its fully subscribed non-brokered private placement (the “Private
Placement”) as detailed below. The Company is also pleased to announce the participation of
HCC Holding Ltd. (“HCC” or “HCC Group”) – a subsidiary of Misty Ventures Inc., the economic
development entity of Mistawasis Nêhiyawak First Nation – as a new, cornerstone investor in
Murchison.
HCC is a Saskatchewan based mining contractor and service provider headquartered in
Saskatoon. HCC’s mining division was originally incorporated in 2000 and is celebrating its 25 th
year of operations. The company has grown substantially in the past 5 years, becoming a staple
in Saskatchewan’s mining industry, safely executing many complex projects at various mining
sites throughout the province.
The Company issued 1,833,333 Hard Dollar common shares (“HD Shares”) at a price of $0.30 per
HD Common Shares, 4,027,778 flow-through Common Shares (“FT Shares”) at a price of $0. 36
per FT Common Shares to raise aggregate gross proceeds of $2 Million.
Pursuant to the Offering, HCC acquired an aggregate of 4,027,778 Common Shares. Prior to the
completion of the Offering, HCC did not own or control any Common Shares. Following the
completion of the Offering, HCC beneficially owns and controls, directly or indirectly, an aggregate
of 4,027,778 Common Shares, representing approximately 19.39% of the Company’s issued and
outstanding Common Shares on an undiluted basis. Depending on market and other conditions,
as future circumstances may dictate, HCC may from time to time increase or decrease holdings
of Common Shares or other securities of the Company. A copy of the early warning report will be
available on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca.
All securities issued under the Private Placement are subject to a hold period expiring on
December 9th, 2025, in accordance with applicable securities laws. Proceeds from the private
placement will be directed towards exploration at the Company’s 100% -owned BMK Zn-Cu-Ag-
Pb-Au VMS Project in Saskatchewan, the 100% -owned HPM nickel -copper-cobalt Project in
Quebec, working capital and administrative expenses.
Troy Boisjoli, CEO commented: “On behalf of management and the board I would like to welcome
the investment by HCC – Misty Ventures – to Murchison. HCC brings years of experience as a leader
in Saskatchewan mining , executing complex projects throughout the province. Furthermore, HCC
shares Murchison’s commitment to working with First Nations communities to advance projects
together. Today’s announcement is just the start of Murchison Minerals rejuvenation, and we are
2 | P a g e
MURCHISON MINERALS LTD. NEWS RELEASE
extremely excited to have HCC ’s backing. The Company will be announcing its 2025 exploration
programs in the very near term.”
Chief Daryl Watson, Mistawasis Nêhiyawak First Nation commented: “ We fully support our
development corporation Misty Ventures and all their entities to the best of our abilities . With the
recent transaction of HCC acquiring an equity stake in Murchison Minerals, we can now decalre that
we are truly in the mining exploration business in various capacities. We wish all the success to all
parties involved in this transaction. As a progressive nation in Saskatchewan, we look forward to the
further growth of our new partners and relationships.”
Insider Participation:
Donald K. Johnson, OC, Murchison Minerals’ Director, and Largest Shareholder
Mr. Johnson acquired an additional 1,833,333 Common Shares for aggregate investment of
$549,999.90 to maintain his current ownership in the Company at approximately 31.4%.
The Private Placement constituted a “related party transaction” as defined in Multilateral
Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”),
as an insider of the Company acquired an aggregate of 1,833,333 Common Shares. 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 Private Placement by ins iders does not exceed 25% of the market
capitalization of the Company, as determined in accordance with MI 61 -101. The Company did
not file a material change report in respect of the related party transaction at least 21 days before
the closing of the Private Placement, which the Company deems reasonable in the circumstances
to complete the Private Placement in an expeditious manner. The Private Placement was
approved by all independent directors of the Company.
Finders Fee
The Private Placement is subject to final acceptance of the TSX Venture Exchange. Finder’s fees
of $16,500 were paid in relation to the Private Placement.
About Murchison Minerals Ltd. (TSXV: MUR)
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.
Following the Private Placement, Murchison currently has 20.77 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
3 | P a g e
MURCHISON MINERALS LTD. NEWS RELEASE
Justin LaFosse, Director Corporate Development
Tel: (416) 350‐3776
About HCC Group
HCC is a Saskatchewan based mining contractor and service provider headquartered in
Saskatoon. HCC’s mining division was originally incorporated in 2000 and is celebrating its 25 th
year of operations. The company has grown substantially in the past 5 years, becoming a staple
in Saskatchewan’s mining industry, safely executing many complex projects at various mining
sites throughout the province. HCC is committed to Indigenous employment opportunities, with
approximately 25% of HCC’s employees being of First Nations or Métis descent.
In addition to HCC’s employment numbers, the company is 58.5% Indigenous owned, the largest
shareholder being Misty Ventures which is the economic development arm of Mistawasis
Nehiyawak.
Additional information about HCC can be found on the Company’s website at hcc.ca
Forward‐Looking Information
The content and grades of any mineral deposits at the Company’s properties are conceptual in nature. There has been insufficient exploration to define a
mineral resource on the property and it is uncertain if further exploration will result in any target being delineated as a m ineral resource.
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 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 results 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. 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 results 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 Exchange)
accepts responsibility for the adequacy or accuracy of this releas e.