Closes Private Placement for Gross Proceeds of $548,350
Oracle Commodity Holding Corp.
Closes Private Placement for Gross Proceeds of $548,350
Vancouver, British Columbia, June 13, 2024 – Oracle Commodity Holding Corp. (“Oracle”
or the “Company”) is pleased to announce that it has closed a non-brokered private placement
raising gross proceeds of $548,350 through the issuance of 4,985,000 units (the “Units”) at a price
of $0.11 per Unit. Each Unit consists of one common share of the Company (a “Share”) and one
share purchase warrant (the “Warrant”) with each Wa rrant entitling the holder to purchase one
additional Share at a price of $0.15 per Share until June 12, 2027 (the “Private Placement”).
147,750 Units were issued in connection with this P rivate Placement as Finder’s Fees to
Canaccord Genuity Corp. (as to 134,750 Units) and Research Capital Corp. (as to 14,000 Units).
Proceeds of the Private Placement are expected to b e used for working capital and general
corporate purposes.
The securities issued pursuant to the Private Placement will be subject to a regulatory hold period
ending October 13, 2024.
John Lee, a Director of the Company, subscribed for 1,300,000 Units for gross proceeds of
$143,000. Additionally, Silver Elephant Mining Corp (“Silver Elephant”)., an insider of the
Company by virtue of holding 10% or more of the issued and outstanding shares of the Company,
subscribed for 1,470,000 Units for gross proceeds o f $161,700. The issuance of Units to John
Lee and Silver Elephant are considered related part y transactions within the meaning of
Multilateral Instrument 61-101 – Protection of Mino rity Security Holders in Special Transactions
(“MI 61-101”). The Company relies on exemptions fro m the formal valuation and minority
shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the
basis that participation in the Private Placement by Mr. Lee and Silver Elephant does not exceed
25% of the fair market value of the Company’s marke t capitalization. The Company will file a
material change report in respect of the related party transaction in connection with the closing of
the Private Placement.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (t he “U.S. Securities Act”) or any state
securities laws and may not be offered or sold with in the United States unless registered under
the U.S. Securities Act and applicable state securities laws or an exemption from such registration
is available.
About Oracle Commodity Holding Corp.
Oracle Commodity Holding Corp. is a Canadian reporting issuer, holding certain interests in other
mining companies.
Further information on Oracle Commodity can be found at www.oracleholding.com .
ORACLE COMMODITY HOLDING CORP.
ON BEHALF OF THE BOARD
“Anthony Garson”
CEO
For more information about Oracle Commodity, please contact:
Email: [email protected]
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain words
such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions,
and statements related to matters which are not his torical facts, are forward-looking information
within the meaning of applicable securities laws. Such forward-looking statements, which reflect
management’s expectations regarding Oracle’s future growth, results of operations, performance,
business prospects and opportunities, are based on certain factors and assumptions and involve
known and unknown risks and uncertainties which may cause the actual results, performance, or
achievements to be materially different from future results, performance, or achievements
expressed or implied by such forward-looking statem ents. Forward-looking information in this
news release includes statements concerning the expected date for commencement of trading of
the Company’s common shares for trading on the TSX Venture Exchange.
Forward-looking statements involve significant risks and uncertainties, and should not be read as
guarantees of future performance, events or results , and may not be indicative of whether such
events or results will actually be achieved. A number of risks and other factors could cause actual
results to differ materially from expected results discussed in the forward-looking statements,
including but not limited to: unanticipated delays to the commencement of trading of the
Company’s common shares; market conditions and inve stor sentiment to invest in a new
investment business with a limited trading history; changes in business plans; ability to secure
sufficient financing to advance the Company’s inves tment business; and general market and
economic conditions. Additional risk factors are set out in the Company’s latest annual and interim
management’s discussion and analysis and listing ap plication, available on SEDAR+ at
www.sedarplus.ca.
Forward-looking statements are based on reasonable assumptions by management as of the
date of this news release, and there can be no assu rance that actual results will be consistent
with any forward-looking statements included herein . Readers are cautioned that all forward-
looking statements in this news release are made as of the date of this news release. The
Company undertakes no obligation to update or revis e any forward-looking statements in this
news release to reflect circumstances or events tha t occur after the date of this news release,
except as required by applicable securities laws.