2021-12-13 Press release - update on private placement
Prismo Metals Announces Update on Private
Placement
Vancouver, British Columbia--(Newsfile Corp. - December 13, 2021) -
Prismo Metals Inc. (CSE: PRIZ)
("Prismo" or the "Company") is pleased to confirm that in connection with its previously announced
private placement of units of the company (see news release dated December 7, 2021 for more details),
such units will also be offered to Prismo shareholders (the "
Eligible Prismo Shareholders
") of record
as of the close of business on December 7, 2021 (the "
Record Date
") pursuant to the "
Exemption from
prospectus requirement for certain trades to existing security holders
" of BC Instrument 45-534, and
similar prospectus exemptions in other provinces of Canada (the "
Existing Shareholder Exemption
").
Subscriptions by Eligible Prismo Shareholders are subject to a number of conditions, including a limit of
$15,000 unless such Eligible Prismo Shareholder has received advice regarding the suitability of an
investment in the units from a registered investment dealer.
As announced by the Company on December 7, 2021, Prismo is conducting a non-brokered private
placement of units (the "Units") at a price of $0.30 per Unit for total gross proceeds of $2 million (the
"
Offering
"). Each Unit will consist of one common share of the Company and one-half of one common
share purchase warrant (each, a "
Warrant
"). Each Warrant will entitle the holder thereof to purchase one
common share of the Company at a price of C$0.45 for a period of 24 months following the closing date
of the Offering.
The Company expects to close the Offering on or before December 22, 2021, which remains subject to
regulatory approval. Any Eligible Prismo Shareholder who wishes to participate in the Offering is asked
to please contact your financial advisor or Salvador Miranda, Chief Financial Officer of the Company, at
(604) 925-2839 or by email to:
in order to receive subscription
documentation and instructions. The Offering will remain open to Eligible Prismo Shareholders until
December 20, 2021. Orders will be processed by the Company on a first come, first served basis such
that it is possible that a subscription received from an Eligible Prismo Shareholder may not be accepted
by the Company if the Offering is over subscribed. Any person who becomes a shareholder of Prismo
after the Record Date shall not be entitled to participate in the Offering under the Existing Shareholder
Exemption.
The Company intends to use the gross proceeds of the Offering to complete a 4,000-meter drilling
campaign on its Palos Verdes property (estimated at $1.0 million), conduct exploration on its Los
Pavitos property with a view of identifying drilling targets (estimated at $400,000), the costs of the
offering (estimated at $125,000) and for general working capital.
There can be no assurances that the Offering will be completed on the terms set out herein, or at all, or
that the proceeds of the Offering will be sufficient for the uses of proceeds as set out above.
About Prismo
Prismo (CSE: PRIZ) is junior mining company focused on precious metal exploration in Mexico.
ON BEHALF OF THE BOARD
Craig Gibson, Chief Executive Officer and Director
Prismo Metals Inc.
1100 - 1111 Melville St., Vancouver, British Columbia
V6E 3V6
Contact Information:
Salvador Miranda, CFO
Neither the Canadian Securities Exchange accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively,
"forward-looking statements") within the meaning of applicable Canadian securities legislation. All
statements other than statements of historical fact, including without limitation, statements regarding the
anticipated content, commencement and exploration program results, the ability to complete future
financings, required permitting, exploration programs and drilling, and the anticipated business plans
and timing of future activities of the Company, are forward-looking statements. Forward-looking
statements are typically identified by words such as: believe, expect, anticipate, intend, estimate,
postulate and similar expressions, or are those, which, by their nature, refer to future events. Although the
Company believes that such statements are reasonable, it can give no assurance that such expectations
will prove to be correct.
The Company cautions investors that any forward-looking statements by the Company are not
guarantees of future results or performance, and that actual results may differ materially from those in
forward looking statements as a result of various factors, including, but not limited to, the state of the
financial markets for the Company's equity securities, the state of the commodity markets generally,
variations in the nature, the analytical results from surface trenching and sampling program, including
diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the
quality and quantity of any mineral deposits that may be located, variations in the market price of any
mineral products the Company may produce or plan to produce, the inability of the Company to obtain
any necessary permits, consents or authorizations required, including CSE acceptance, for its planned
activities, the inability of the Company to produce minerals from its properties successfully or profitably,
to continue its projected growth, to raise the necessary capital or to be fully able to implement its
business strategies, the potential impact of COVID-19 (coronavirus) on the Company's exploration
program and on the Company's general business, operations and financial condition, and other risks
and uncertainties. All of the Company's Canadian public disclosure filings may be accessed via
www.sedar.com and readers are urged to review these materials, including the technical reports filed
with respect to the Company's mineral properties.
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UNITED STATES NEWSWIRE SERVICES
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https://www.newsfilecorp.com/release/107481