Rackla Metals increases private placement to $972,000
Rackla Metals increases private placement to $972,000
December 22, 2020; Vancouver, BC : Rackla Metals Inc. (TSX -V: RAK) announces that , subject to TSX
Venture Exchange approval, its previously announced non-brokered private placement is increased to 8.1
million units at $0.12 per unit, for proceeds of up to $972,000. Each unit will consist of one common share
and one warrant entitling the holder to purchase one additional common share of the Company at $0.15
for one year from closing. Management proposes to use the net proceeds of the placement for conducting
exploration drilling on the Company's Rivier Property in the coming year, for continuing investigations of
additional mineral properties for acquisition, and for general working capital purposes.
The completion of the private placement is subject to acceptance by the TSX Venture Exchange.
About Rackla
Management of Rackla Metals is encouraged by the renewed strength in the precious metals market and
is actively seeking new projects for acquisition as the Company continues to advance its Rivier Project in
the Yukon.
ON BEHALF OF THE BOARD
Simon Ridgway,
Chief Executive Officer
Tel: (604) 801-5432; Fax: (604) 662-8829
Email: [email protected]
Website: www.racklametals.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements contained in this news release constitute forward -looking statements within the meaning of
Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-
looking statements and include, without limitation, statements about the completion of the private placement and
future exploration work by the Company. Often, but not always, these forward looking statements can be identified
-2-
by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”,
“projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offse t”, “limited”, “contained”, “reflecting”,
“containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be
achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be materially different from any results, performance
or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among
others, whether the private placement will be completed as planned and whether exploration work by the Company
will proceed as planned; changes in general economic condi tions and financial markets; the Company or any joint
venture partner not having the financial ability to meet its exploration and development goals; risks associated with
the results of exploration and development activities, estimation of mineral resourc es and the geology, grade and
continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in
the Company’s quarterly and annual filings with securities regulators and available under the Company’s profi le on
SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those described in forward -looking statements, there may
be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of
management, including but not limited to: expectations th at the private placement will be completed as planned;
that the Company’s plans for exploration work will proceed as planned; that the Company’s stated goals and planned
exploration and development activities will be achieved; that there will be no materia l adverse change affecting the
Company or its properties; and such other assumptions as set out herein. Forward -looking statements are made as
of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as
a result of new information, future events or results or otherwise, except as required by law. There can be no
assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ
materially from those ant icipated in such statements. Accordingly, investors should not place undue reliance on
forward-looking statements.