Scottie Resources Announces Closing of First Tranche of Private Placement /
Scottie Resources Announces Closing of First
Tranche of Private Placement
/
Not for distribution to
United States
newswire services or for dissemination in
the United
States
/
VANCOUVER, BC
,
Jan. 22, 2024
/CNW/ -
Scottie Resources Corp.
(TSXV: SCOT) (OTCQB:
SCTSF) (FSE: SR8) ("
Scottie
" or the "
Company
") is pleased to announce that, further to the
Company's news release dated
January 18, 2024
(the "
Initial News Release
"), the Company has
closed the first tranche (the "
First Tranche
") of its non-brokered private placement (the "
Private
Placement
"). Under the First Tranche, the Company issued 11,111,111 non flow-through units (the
"
NFT Units
") at a price of
$0.18
per NFT Unit for gross proceeds of
$2,000,000
. Each NFT Unit
consists of one common share in the capital of the Company (a "
Share
") and one-half of one
common share purchase warrant (each whole warrant a "
Warrant
"). Each Warrant entitles the
holder to purchase an additional Share (a "
Warrant Share
") at an exercise price of
$0.28
per
Warrant Share for a period of three (3) years from the date of issuance.
The Company intends to use the proceeds of the First Tranche for general working capital and
administrative purposes.
The securities offered in the First Tranche are subject to a four month and a day transfer restriction
from the date of issuance expiring on
May 23, 2024
, in addition to such other restrictions as may
apply under applicable securities laws of jurisdictions outside
Canada
.
Completion of the Private Placement remains subject to the receipt of all necessary regulatory
approvals, including the approval of the TSX Venture Exchange.
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.
Cautionary and Forward-Looking Statements
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall
there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful, including any of the securities in
the United States of America
. The securities
have not been and will not be registered under the United States Securities Act of 1933, as
amended (the "1933 Act") or any state securities laws and may not be offered or sold within
the
United States
or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the
1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an
exemption from such registration requirements is available.
This news release includes certain statements and information that may constitute forward-looking
information within the meaning of applicable Canadian securities laws. Forward-looking statements
relate to future events or future performance and reflect the expectations or beliefs of management
of the Company regarding future events. Generally, forward-looking statements and information
can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or
variations of such words and phrases or statements that certain actions, events or results "may",
"could", "should", "would" or "occur". This information and these statements, referred to herein as
"forward
looking statements", are not historical facts, are made as of the date of this news release
and include without limitation, statements regarding discussions of future plans, estimates and
forecasts and statements as to management's expectations and intentions with respect to, among
other things, completion of the Private Placement, the use of proceeds from the Private Placement
and the payment of finders' fees under the Private Placement.
These forward
looking statements involve numerous risks and uncertainties and actual results
might differ materially from results suggested in any forward-looking statements. These risks and
uncertainties include, among other things, the Company not receiving the necessary regulatory
approvals in respect of the Private Placement; recent market volatility; and the state of the financial
markets for the Company's securities.
In making the forward looking statements in this news release, the Company has applied several
material assumptions, including without limitation, that the Company will receive the necessary
regulatory approvals in respect of the Private Placement.
Although management of the Company has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking statements or forward-
looking information, there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such statements will prove to be accurate,
as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward-looking statements
and forward-looking information. Readers are cautioned that reliance on such information may not
be appropriate for other purposes. The Company does not undertake to update any forward-
looking statement, forward-looking information or financial out-look that are incorporated by
reference herein, except in accordance with applicable securities laws. We seek safe harbor.
SOURCE
Scottie Resources Corp.
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For further information:
Brad Rourke, President and CEO, +1 250 877 9902,
[email protected]; Gordon Robb, Business Development, +1 250 217 2321,
CO: Scottie Resources Corp.
CNW 18:45e 22-JAN-24