QURI-Mayu Developments Completes IPO and Listing ON the TSX Venture Exchange
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QURI-MAYU DEVELOPMENTS COMPLETES IPO AND
LISTING ON THE TSX VENTURE EXCHANGE
Vancouver, British Columbia – August 15, 2022 : Quri-Mayu Developments Ltd. (the “ Company”) is
pleased to announce that the Company has completed its initial public offering (“ IPO”) in which it
distributed 6,500,000 common shares of the Company (the “Common Shares”) at a price of $0.10 per
Common Share for aggregate gross proceeds of $650,000. The Common Shares were listed on the TSX
Venture Exchange (the “TSXV”) at market open on August 15, 2022 and immediately halted. Trading of
the Common Shares is expected to resume on the TSXV on or about August 17, 2022 under the trading
symbol “QURI”.
Pursuant to the agency agreement dated May 18, 2022, PI Financial Corp. (the “Agent”) acted as agent
in respect of the IPO on a commercially reasonable efforts basis. The Agent received a cash commission
of $39,000 and an aggregate of 390,000 compensation options, each entitling the holder to purchase
one Common Share for $0.10 at any time until August 15, 2025. The Agent also received a corporate
finance fee.
The net proceeds of the IPO will primarily be used to fund the exploration expenditures and option
payments on the mineral claim property (the “AT Property”), situated in Clinton Mining Division, in the
province of British Columbia, consisting of four claims totalling 3,440.7 hectares, in which the Company
has the option to earn an undivided 100% interest pursuant to an option agreement dated September
14, 2020, as well as for expenses of the IPO, general and administrative costs for the next twelve months,
and for general working capital purposes.
As a result of the closing of the IPO, the Company now has 44,430,338 Common Shares issued and
outstanding.
Additional information on the Company, the IPO and the AT Property can be found in the Company’s
final prospectus dated May 18, 2022 as filed on SEDAR at www.sedar.com.
Contact Information - For more information, please contact:
Kevin Smith, Chief Executive Officer, Corporate Secretary and Director
Tel: 604 309-6340
Email: [email protected]
Forward-Looking Statements
This press release contains “forward‐looking information or statements” within the meaning of Canadian securities laws,
which may include, but are not limited to statements relating to the date of first trading in the Company’s common
shares, its future business plans and proposed use of proceeds fro m the IPO. All statements in this release, other than
statements of historical facts, that address events or developments that the Company expects to occur, are forward ‐
looking statements. Forward‐looking statements are statements that are not historical facts and are generally, but not
always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”,
“potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur.
Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results may differ materially from
those in the forward‐ looking statements. Factors that could cause the actual results to differ materially from those in
forward‐looking statements include regulatory actions, fluctuations in metal and commodity prices, market prices,
failure to obtain permits, and continued availability of capital and financing, and general economic, market or business
conditions. In particular, there is no guarantee that exploration work, as proposed, or otherwise, will be completed on
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the AT Property. Such forward ‐looking information reflects the C ompany’s views with respect to future events and is
subject to risks, uncertainties and assumptions, including those set out in the Company’s final long form prospectus
dated May 1 8, 2022, and filed under the Company’s profile on SEDAR at www.sedar.com. Th e Company does not
undertake to update forward‐looking statements or forward‐looking information, except as required by law. Investors
are cautioned that any such statements are not guarantees of future performance and actual results or developments
may differ materially from those projected in the forward‐looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.