Rackla Metals proposes $900,000 private placement
Rackla Metals proposes $900,000 private placement
October 22, 2020; Vancouver, BC: Rackla Metals Inc. (TSX-V: RAK) announces that it proposes to complete
a non-brokered private placement consisting of up to 7.5 million units at $0.12 per unit, for proceeds of
up to $ 900,000. 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 Company has recently signed an exclusivity agreement to review the Expo property from Ron Berdahl
of Whitehorse, Yukon. The Expo property is located in the region of the Rivier Property and covers a
prominent series of VMS targets in the heart of the Finlayson Lake VMS district. Recent soil geochemistry
work and aer ial geophysics highlight a Zn/Au soil anomaly 800m X 300m which complements past
prospecting finds and highlights the potential for discovery. The agreement gives Rackla exclusivity to
review the data until April 1,2021.
The private placement is subject to acceptance for filing by the TSX Venture Exchange.
Technical Information
Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Rackla’s Qualified
Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and has
prepared and approved the technical information contained in this news release.
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
Bruce Smith,
President and Director
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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 inc lude, 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
by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”,
“projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”,
“containing”, “remaining”, “to be”, “periodically”, or statements that even ts, “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 conditions and financial markets; the Company or any joint
venture partner not having the financial ability to meet its exploration and development goals; ris ks associated with
the results of exploration and development activities, estimation of mineral resources 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 profile on
SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause
actual actions, events or results to dif fer 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 assum ptions, beliefs, expectations and opinions of
management, including but not limited to: expectations that 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 material 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 anticipated in such statements. Accordingly, investors should not place undue reliance on
forward-looking statements.