SKRR Exploration Inc. Announces Private Placement Financing
SKRR Exploration Inc. Announces Private
Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - August 21, 2020) - SKRR Exploration Inc. (
TSXV:
SKRR
) ("
SKRR
" or the "
Company
") is pleased to announce that further to its previously closed
financing on July 13, 2020, the Company intends to complete a non-brokered private placement of up to
4,000,000 units (each a "
Unit
") at a price of $0.25 per Unit for gross proceeds of up to $1,000,000 (the
"
Private Placement
"). Each Unit will be comprised of one common share and one-half of one common
share purchase warrant (each a "
Warrant
"). Each whole Warrant is exercisable to purchase one
common share of the Company at a price of $0.50 per share for a period of 18 months from the date of
closing of the Private Placement.
SKRR's President and Chief Executive Officer, Sherman Dahl, noted: "We have further increased the
Private Placement to accommodate several key new investors and investment groups. We consider the
strong interest shown by these key investors to be a positive development for the Company and our
Saskatchewan gold projects."
The Private Placement is subject to TSX Venture Exchange approval and all securities are subject to a
four month hold period. Finder's fees may be payable in connection with the Private Placement, all in
accordance with the policies of the TSX Venture Exchange and applicable securities laws.
The net proceeds from the Private Placement will be used for future exploration work on the Company's
properties, corporate development, and general corporate and working capital purposes.
The Private Placement is subject to an over-allotment option exercisable in the sole discretion of the
Company any time prior to closing to issue up to an additional 600,000 Units for up to an additional
$150,000 of gross proceeds.
About SKRR Exploration Inc.
:
SKRR is a Canadian-based precious metal explorer with properties in Saskatchewan - one of the
world's highest ranked mining jurisdictions. The primary exploration focus is on the Trans-Hudson
Corridor in Saskatchewan in search of world class precious metal deposits.
The Trans-Hudson Orogen -
although extremely well known in geological terms has been significantly under-explored in
Saskatchewan.
SKRR is committed to all stakeholders including shareholders, all its partners and the
environment in which it operates.
ON BEHALF OF THE BOARD
Sherman Dahl
President & CEO
Tel: 250-558-8340
Neither the 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
news release.
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.
Cautionary Statement Regarding Forward Looking Information
This news release includes certain statements that constitute "forward-looking information or
statements" within the meaning of applicable securities law, including without limitation, SKRR's plans
for its properties/projects, closing of the Private Placement and use of funds, other statements relating to
the technical, financial and business prospects of SKRR, and other matters.
Forward-looking statements address future events and conditions and are necessarily based upon a
number of estimates and assumptions. These statements relate to analyses and other information that
are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of
management. Any statements that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often,
but not always, using words or phrases such as "expects" or "does not expect", "is expected",
"anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions,
events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved), and
variations of such words, and similar expressions are not statements of historical fact and may be
forward-looking statements. Forward-looking statement are necessarily based upon a number of factors
that, if untrue, could cause the actual results, performances or achievements of SKRR to be materially
different from future results, performances or achievements express or implied by such statements. Such
statements and information are based on numerous assumptions regarding present and future business
strategies and the environment in which SKRR will operate in the future, including the price of metals and
other commodities, anticipated costs and the ability to achieve goals, that general business and
economic conditions will not change in a material adverse manner, that financing will be available if and
when needed and on reasonable terms, and that third party contractors, equipment and supplies and
governmental and other approvals required to conduct SKRR's planned exploration activities will be
available on reasonable terms and in a timely manner. While such estimates and assumptions are
considered reasonable by the management of SKRR, they are inherently subject to significant business,
economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual
events, level of activity, performance or results to differ materially from those reflected in the forward-
looking statements, including, without limitation: (i) risks related to gold, and other commodity price
fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks
related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected
costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that
SKRR may lose or abandon its property interests or may fail to receive necessary licences and permits;
(vi) that environmental laws and regulations may become more onerous;
(vii) that SKRR may not be able
to raise additional funds when necessary; (viii) the possibility that future exploration, development or
mining results will not be consistent with SKRR's expectations; (ix) exploration and development risks,
including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated
difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for
delays in exploration or development activities or the completion of geologic reports or studies; (xii) the
uncertainty of profitability based upon SKRR's history of losses; (xiii) risks related to environmental
regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements
and permissions (generally referred to as "social licence"), including local First Nations; (xv) risks
relating to obtaining and maintaining all necessary government permits, approvals and authorizations
relating to the continued exploration and development of SKRR's projects; (xvi) risks related to the
outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix)
risks related to current global financial conditions; and (xx) other risks and uncertainties related to
SKRR's prospects, properties and business strategy. These risks, as well as others, could cause actual
results and events to vary significantly.
Factors that could cause actual results to differ materially from those in forward looking statements
include, but are not limited to, continued availability of capital and financing and general economic,
market or business conditions, the loss of key directors, employees, advisors or consultants, adverse
weather conditions, increase in costs, equipment failures, litigation, the impact of Covid-19 or other
viruses and diseases on the Company's ability to operate, failure to maintain all necessary government
permits, approvals and authorizations, failure to maintain community acceptance (including First
Nations), a decrease in the price of gold and other metals, failure of counterparties to perform their
contractual obligations and fees charged by service providers. Investors are cautioned that forward-
looking statements are not guarantees of future performance or events and, accordingly are cautioned
not to put undue reliance on forward-looking statements due to the inherent uncertainty of such
statements. The forward-looking statements included in this news release are made as of the date
hereof and SKRR disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, except as expressly
required by applicable securities legislation.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION,
DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR
INTO THE UNITED STATES.
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https://www.newsfilecorp.com/release/62318