North PEAK Resources Announces Non-Brokered Private Placement
NORTH PEAK RESOURCES ANNOUNCES
NON-BROKERED PRIVATE PLACEMENT
/NOT FOR DISTRIBUTION OR DISSEMINATION IN
THE UNITED STATES
. FAILURE TO
COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF
UNITED STATES
SECURITIES LAWS/
CALGARY, AB
,
Feb. 14, 2022
/CNW/ -
North Peak Resources Ltd.
(TSXV: NPR) (the
"
Company
") is pleased to announce that it intends to complete a non-brokered private placement of
up to 2,173,913 equity units of the Company ("
Units
") at a price of
CAD$2.30
per Unit for gross
proceeds of up to
CAD$5,000,000
(the "
Private Placement
"). The Company has the option to
increase the size of the Private Placement by up to an additional 326,087 Units, for total gross
proceeds of up to
CAD$5,750,000
.
Each Unit will be comprised of one (1) common share of the Company and one-half of one (1/2)
common share purchase warrant of the Company (a "
Warrant
"). Each whole Warrant will entitle the
holder to acquire one (1) common share of the Company for a period of 12 months from the date of
issuance of the Warrant, at an exercise price of
CAD$3.50
per share.
"Working together with its suppliers and contractors, the Company has a solid idea of its exploration
program requirements for the upcoming months and this Private Placement will give key investors
the opportunity to support these efforts," said
Brian Hinchcliffe
, CEO of the Company.
The Private Placement is subject to the approval of the TSX Venture Exchange (the "
Exchange
").
The securities issued in connection with the Private Placement will be subject to a four-month hold
period, in accordance with applicable securities laws.
The Company intends to use the proceeds from the Private Placement towards exploration drilling
programs on the Black Horse gold and silver property (the "
Black Horse Property
"), the continued
development of its business and for general and administrative expenses. The Company has an
option to acquire the Black Horse Property, which consists of 2,733 acres located approximately 50
miles east of
Ely
in White Pine Country,
Nevada
and shows evidence of three historic mining areas:
the Black Horse, San Pedro and Gold King. See the Company's
January 11, 2022
press release for
additional information.
The Company may pay a commission or finder's fee to eligible parties in connection with the Private
Placement, subject to the approval of the Exchange and compliance with applicable securities laws.
About North Peak Resources
The Company is a Canadian based gold exploration and development company that is listed on the
TSX Venture Exchange under the symbol "NPR". The Company holds an option to acquire the 2,733-
acre Black Horse gold and silver property located approximately 50 miles east of
Ely
within the
Black Horse mining district in
White Pine County
, Nevada. See the Company's
January 11, 2022
press release for additional information.
This press release is not an offer of the Company's securities for sale in
the United States
.
The Company's securities may not be offered or sold in
the United States
absent registration
or an available exemption from the registration requirements of the U.S. Securities Act of
1933, as amended (the "U.S. Securities Act") and applicable U.S. state securities laws. The
Company will not make any public offering of its securities in
the United States
. The
Company's securities have not been and will not be registered under the U.S. Securities Act.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities, in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS:
This news
release includes certain "forward-looking statements" under applicable Canadian securities
legislation. Forward-looking statements include, but are not limited to, statements with respect to
completion of the proposed Private Placement, the anticipated use of proceeds of the Private
Placement, timing and completion of any drilling and work programs on the Black Horse Property,
estimates of
mineralization from drilling, geological information projected from sampling results
and the potential quantities and grades of the target zones, potential for minerals and/or mineral
resources, and statements regarding the plans, intentions, beliefs, and current expectations of the
Company with respect to the future business activities and operating performance of the Company
that may be described herein. Forward-looking statements consist of statements that are not purely
historical, including any statements regarding beliefs, plans, expectations or intentions regarding
the future. Such information can generally be identified by the use of forwarding-looking wording
such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative
thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking
statements, as there can be no assurance that the plans, intentions or expectations upon which
they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown
risks and uncertainties, both general and specific, that contribute to the possibility that the
predictions, estimates, forecasts, projections and other forward-looking statements will not occur.
These assumptions, risks and uncertainties include, among other things, the state of the economy
in general and capital markets in particular, accuracy of assay results, geological interpretations
from drilling results, timing and amount of capital expenditures; performance of available
laboratory and other related services, future operating costs, and the historical basis for current
estimates of potential quantities and grades of target zones, as well as those risk factors discussed
or referred to in the Company's Management's Discussion and Analysis for the year ended
December 31, 2020
, and the period ended
September 30, 2021
available at
www.sedar.com,
many
of which are beyond the control of the Company. Forward-looking statements contained in this
press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this
press release. Except as required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. Additionally, the Company undertakes no obligation to
comment on the expectations of, or statements made by, third parties in respect of the matters
discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
SOURCE
North Peak Resources Ltd.
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For further information:
Brian Hinchcliffe, CEO, Phone: +1-647-424-2305, Email:
[email protected], Website: www.northpeakresources.com; Chelsea Hayes, Director,
Phone: +1-647-424-2305, Email: [email protected]
CO: North Peak Resources Ltd.
CNW 09:20e 14-FEB-22