Nuinsco Announces Closing of Private Placement
Nuinsco Announces Closing of Private Placement
Toronto, June 29, 2021 – Nuinsco Resources Limited (“ Nuinsco” or the “Company”) (CSE: NWI) today announced
that it has closed a non‐brokered private placement offering in two tranches, issuing 20,750,000 flow‐through units
(each, a “Unit”) at a subscription price of $0.02 per Unit for aggregate proceeds of $415,000 (the “Offering”).
Each Unit consisted of one common share of the Company (“ Common Share”) issued on a “flow‐through” basis
pursuant to the Income Tax Act (Canada) and one warrant (“ Warrant”). Each Warrant entitles the holder thereof
to purchase one common share of the Company (non‐flow‐through) at an exercise price of $0.05 per share for a
period of 24 months from the Issue Date.
Proceeds of the Offering will qualify as Canadian Exploration Expenses as defined in subsection 127(9) of the Income
Tax Act (Canada).
The flow‐through proceeds will be used to conduct exploration o n the Company’s Canadian assets which include
the Sunbeam gold property, the Dash Lake gold property and the Prairie Lake multi‐commodity property, all located
in Ontario.
All members of management and the Board of Directors participate d i n t h e O f f e r i n g . I n c o n n e c t i o n w i t h t h e
Offering, the Company paid a finder’s fee of $9,450 and 472,500 finder warrants with an exercise price of $0.05 per
share for a period of 36 months from June 29, 2021 to Leede Jon es Gable Inc. in respect of certain buyers of the
Offering. All securities issued pursuant to the Offering are su bject to a statutory hold period of four months from
the closing dates in accordance with applicable securities legislation.
About Nuinsco Resources Limited
Nuinsco Resources has over 50 years of exploration success and is a growth oriented, multi‐commodity mineral
exploration and development company focused on prospective oppo rtunities in Canada and internationally.
Currently the Company has three properties in Ontario – the high‐grade Sunbeam gold prospect near Atikokan, the
D a s h L a k e g o l d p r o p e r t y n e a r F o rt Francis and the large, multi‐ commodity (rare‐earths, niobium, tantalum,
phosphorus) Prairie Lake project near Terrace Bay. In addition, Nuinsco has an agreement for gold exploitation at
the El Sid project in the Eastern Desert of Egypt.
Forward‐Looking Statements
This news release contains certain "forward‐looking statements." All statements, other than statements of historic
fact, that address activities, events or developments that Nuinsco believes, expects or anticipates will or may occur
in the future are forward‐looking statements. Forward‐looking s tatements are often, but not always, identified by
the use of words such as "seek," "anticipate," "believe," "plan ," "estimate, “expect," and "intend" and statements
that an event or result "may," " will," "can," "should," "could, " or "might" occur or be achieved and other similar
expressions. These forward‐looking statements reflect the curren t e x p e c t a t i o n s o r b e l i e f s o f N u i n s c o b a s e d o n
information currently available to Nuinsco. Forward‐looking statements are subject to a number of risks and
uncertainties that may cause the actual results of Nuinsco to d iffer materially from those discussed in the forward‐
looking statements, and even if such actual results are realized or substantially realized, there can be no assurance
that they will have the expected consequences to, or effects on Nuinsco. Factors that could cause actual results or
events to differ materially from current expectations include, among other things, failure to successfully complete
financings, capital and other costs varying significantly from estimates, production rate s varying from estimates,
changes in world copper and/or gold markets, changes in equity markets, uncertainties relating to the availability
and costs of financing needed in the future, equipment failure, unexpected geological conditions, imprecision in
resource estimates, success of future development initiatives, competition, operating performance of facilities,
environmental and safety risks, delays in obtaining or failure to obtain tenure to properties and/or necessary permits
and approvals, and other development and operating risks. Any f orward‐looking statement speaks only as of the
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date on which it is made and, except as may be required by applicable securities laws, Nuinsco disclaims any intent
or obligation to update any forward‐looking statement, whether as a result of new information, future events or
results or otherwise. Although Nuinsco believes that the assump tions inherent in the forward‐looking statements
are reasonable, forward‐looking statements are not guarantees of future performance and accordingly undue
reliance should not be put on such statements due to the inherent uncertainty therein.
To learn more, please visit www.nuinsco.ca or contact:
Paul Jones, CEO Sean Stokes, Executive VP Cathy Hume, Consultan t Instagram:
@nuinscoresources
[email protected] [email protected] [email protected]
416 868‐1079 x 231
Twitter:
@NWIResources