Stuhini Exploration Ltd. Announces Increase of Private Placement to $1,920,000
Stuhini Exploration Ltd. Announces Increase of
Private Placement to $1,920,000
VANCOUVER, BC
,
Aug. 17, 2022
/CNW/ - Stuhini Exploration Ltd. (the "
Company
" or "
Stuhini
")
(TSXV: STU) (OTCPK: STXPF) is pleased to announce that, due to demand from potential
investors, its non-brokered private placement announced on
August 2, 2022
has been increased by
$420,000
for total aggregate gross proceeds to the Company of up to
$1.92 million
(the "
Private
Placement
").
The Private Placement will consist of a combination of: (i) flow-through units of the Company ("
FT
Units
") at a price of
$0.45
per FT Unit; and (i) non-flow through units of the Company ("
NFT Units
")
at a price of
$0.40
per NFT Unit.
The terms of the Private Placement, the FT Units and NFT Units, the proposed use of proceeds,
possible finders' fees and some anticipated insider placees are otherwise as previously disclosed in
the Company's news release dated
August 2, 2022
.
The Private Placement will close in multiple tranches, with the first tranche of the Private Placement
having closed on
August 4, 2022
. The Private Placement is subject to certain conditions including,
but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX
Venture Exchange. All securities to be issued pursuant to the Private Placement will have a hold
period of four months and one day from the closing of the applicable tranche of the Private
Placement.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on the exploration and development of it's base and
precious metal properties. The Company's portfolio of exploration properties includes: its flagship,
the Ruby Creek Property, located approximately 20 km east of
Atlin, BC
; the Que Project located
approximately 70 km north of Johnson's Crossing in the
Yukon
; the South Thompson Project located
approximately 35 km northwest of
Grand Rapids, Manitoba
; and the Big Ledge Property located
approximately 57 km south of
Revelstoke, BC
.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities
legislation. Such forward
looking statements or information are based on a number of assumptions
which may prove to be incorrect. Assumptions have been made regarding, among other things:
conditions in general economic and financial markets; timing and amount of capital
expenditures; timing and amount of qualifying expenditures incurred in connection with the FT
Units; and effects of regulation by governmental agencies. The actual results could differ materially
from those anticipated in these forward
looking statements as a result of risk factors including, but
not limited to: the availability of funds; the timing and content of work programs; results of
exploration activities of mineral properties; the interpretation of drilling results and other geological
data; general market and industry conditions; and failure to incur qualifying expenditures in
connection with the FT Units. Forward
looking statements are based on the expectations and
opinions of the Company's management on the date the statements are made. The assumptions
used in the preparation of such statements, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date the statements were
made. The Company undertakes no obligation to update or revise any forward-looking statements
included in this news release if these beliefs, estimates and opinions or other circumstances should
change, except as otherwise required by applicable law.
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.
Web:
www.stuhini.com
SOURCE
Stuhini Exploration Ltd.
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For further information:
David O'Brien, President & Chief Executive Officer, Stuhini Exploration
Ltd., Email: [email protected], Phone: (604) 835-4019
CO: Stuhini Exploration Ltd.
CNW 21:43e 17-AUG-22