Scottie Resources Announces Upsize of Private Placement to $3.2 Million
Scottie Resources Announces Upsize of
Private Placement to $3.2 Million
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
VANCOUVER, BC
,
Sept. 26, 2022
/CNW/ -
Scottie Resources Corp.
(TSXV: SCOT) (OTCQB:
SCTS) (FSE:SR8)
("Scottie"
or the
"Company")
is pleased to announce that, due to strong
investor demand, it has increased its previously announced non-brokered private placement (the
"
Offering
") to up to
$3,200,000
, consisting of 18,823,529 units (the "
Units
") at a price of
$0.17
per
Unit. Each Unit will consist of one common share of the Company and one common share purchase
warrant (a "
Warrant
"). Each Warrant will entitle the holder to purchase one common share at a
price of
$0.25
for a period expiring two years following the closing date of the Offering. If the closing
price of the Company's common shares is at a price equal to or greater than
$0.32
for a period of
10 consecutive trading days, the Company will have the right to accelerate the expiry date of the
Warrants by giving written notice to the holders of the Warrants that the Warrants will expire on the
date that is not less than 30 days from the date notice is provided by the Company to the Warrant
holders.
Finder's fees may be payable to parties at arm's length to Scottie that have introduced the Company
to certain subscribers participating in the Offering. Proceeds of the Offering will be used for
exploration on the Company's mineral properties, working capital, and general corporate purposes.
The Offering is subject to acceptance of the TSX Venture Exchange.
All securities issued in Offering will be subject to a resale restriction in accordance with applicable
securities laws.
Additional Information
Brad Rourke
Gordon Robb
President and CEO
Business Development
+1 250 877 9902
+1 250 217 2321
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 forward-looking statements concerning the use of proceeds of
the Offering, the future performance of our business, its operations and its financial performance and
condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking
statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate",
"estimate", "intend" and similar words referring to future events and results. Forward-looking
statements are based on the current opinions and expectations of management. All forward-looking
information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties,
including the speculative nature of mineral exploration and development, fluctuating commodity
prices, competitive risks and the availability of financing, as described in more detail in our recent
securities filings available at
www.sedar.com
. Actual events or results may differ materially from
those projected in the forward-looking statements and we caution against placing undue reliance
thereon. We assume no obligation to revise or update these forward-looking statements except as
required by applicable law.
SOURCE
Scottie Resources Corp.
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%SEDAR: 00031828E
CO: Scottie Resources Corp.
CNW 19:36e 26-SEP-22