Loyalist Exploration Limited Announces Amendments to its Proposed Private Placement
Loyalist Exploration Limited
NEWS RELEASE
Loyalist Exploration Limited Announces Amendments to its Proposed Private
Placement
Toronto, Ontario - (TheNewswire – April 18, 2024) - Loyalist Exploration Limited
(CSE: PNGC) ("Loyalist" or the "Company") announces that it has amended its proposed
non-brokered private placement financing of up to 15,000,000 common shares (the “Shares”) of
the Company at a price of $0.01 per Share for proceeds of up to $150,000 (the “Offering”)(See
press release dated April 12, 2024). The Offering is amended to lower the price per Share to
$0.005 and increase the number of Shares to 30,000,000. The Canadian Securities Exchange (the
“CSE”) has exempted the Company from pricing requirements in the CSE policy. This
exemption has being authorized on a onetime only basis, and the Offering will not be extended.
The proceeds of the Offering will be used for working capital and general and administrative
purposes.
In connection with the Offering, the Company may pay finder’s fees equal to 7% of the gross
proceeds in cash and issue non-transferable warrants (the “Finder Warrants”) to various
registered dealers or finders, equal to 7% of the Shares sold through such registered dealers or
finders in the Offering. Each Finder Warrant will entitle the holder thereof to purchase one (1)
Loyalist common share at a price of $0.05 per share for a period of thirty-six (36) months from
the closing date of the Offering.
The Private Placement will be conducted in reliance upon certain exemptions from the
prospectus requirements set out in NI 45-106.
The Shares issued in connection with the Private Placement are subject to a hold period expiring
four months and one day from the issuance of the securities comprising the Offering.
About Loyalist Exploration Limited
Loyalist Exploration Limited is a mineral exploration company focused on acquiring, exploring,
and developing quality mineral properties in Canada.
For further information please visit the Company's website at loyalistexp.ca or contact:
Loyalist Exploration Limited
Loyalist Exploration Limited
Errol Farr, President and CEO
Email: [email protected]
Tel: 647-296-1270
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in
the policies of the Canadian Securities Exchange) have reviewed or accept responsibility for
the adequacy or accuracy of this release.
This news release contains "forward-looking information" (within the meaning of applicable
Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995). Such statements or information are identified
with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate",
"propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or
statements regarding an outlook.
Although the Company believes that the expectations reflected in the forward-looking
information or statements are reasonable, prospective investors in the Company’s securities
should not place undue reliance on forward-looking statements because the Company can
provide no assurance that such expectations will prove to be correct. Forward- looking
information and statements contained in this news release are as of the date of this news release
and the Company assumes no obligation to update or revise this forward-looking information
and statements except as required by law.