SKRR Exploration Inc. Closes Private Placement /
SKRR Exploration Inc. Closes Private
Placement
/
NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
VANCOUVER, BC
,
Dec. 29, 2023
/CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (FSE:
B04Q) ("
SKRR
" or the "
Company
") is pleased to announce that it has closed a non-brokered private
placement (the "
Offering
") for aggregate gross proceeds of
$110,004
, consisting of 916,700 critical
mineral exploration tax credit ("
CMETC
") flow-through units of the Company (each, a "
FT Unit
") at a
price of
$0.12
per FT Unit. Each FT Unit consists of one common share of the Company to be
issued as a "flow-through share" within the meaning of the
Income Tax Act
(
Canada
) (a "
FT Share
")
and one-half of one transferable common share purchase warrant ("
Warrants
"). Each whole
Warrant entitles the holder thereof to purchase one common share of the Company (a "
Warrant
Share
") at a price of
$0.15
at any time on or before the date which is 24 months following the
closing of the Offering.
The Company intends to use the proceeds of the Offering for the exploration of the Company's
projects in Saskatchewan that will be eligible for the CMETC. The gross proceeds from the issuance
of the FT Shares will be used for "Canadian Exploration Expenses" (within the meaning of the
Income Tax Act
(
Canada
)) (the "
Qualifying Expenditures
"), which will be renounced with an
effective date no later than
December 31, 2023
to the purchasers of the FT Units in an aggregate
amount not less than the gross proceeds raised from the issuance of the FT Shares.
In connection with the Offering, the Company paid aggregate cash finder's fees of
$7,700.28
and
issued 64,169 non-transferable finder's warrants. Each finder warrant entitles the holder thereof to
purchase one common share of the Company at a price of
$0.15
at any time on or before the date
which is 24 months following the closing of the Offering. The FT Shares, Warrant Shares and any
common shares of the Company that are issuable from any finder's warrants are subject to a hold
period of four months and one day following the closing date of the Offering in accordance with
applicable securities laws and the policies of the TSX Venture Exchange.
About SKRR Exploration Inc.
SKRR is a Canadian-based precious and base metal explorer with properties in
British Columbia
and
Saskatchewan
– some 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 and base
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 release.
The securities offered have not been, and will not be, registered under the United States Securities
Act of 1933, as amended (the "
U.S. Securities Act
") or any U.S. state securities laws, and may not
be offered or sold in
the United States
or to, or for the account or benefit of,
United States
persons
absent registration or an applicable exemption from the registration requirements of the U.S.
Securities Act and applicable U.S. state securities laws. This press release does not constitute an
offer to sell or the solicitation of an offer to buy securities in
the United States
, nor in any other
jurisdiction.
Forward-Looking Information
This news release contains "forward–looking information or statements" within the meaning of
applicable securities laws, which may include, without limitation, statements relating to the use of
proceeds of the Offering and other statements relating to the technical, financial and business
prospects of the Company, its projects and other matters. All statements in this news release, other
than statements of historical facts, that address events or developments that the Company expects
to occur, are forward-looking statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results may differ materially from
those in the forward-looking statements. Such statements and information are based on numerous
assumptions regarding present and future business strategies and the environment in which the
Company will operate in the future, including the price of metals, the ability to achieve its goals, the
ability to secure equipment and personnel to carry out work programs, 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. Such forward-looking information reflects the
Company's views with respect to future events and is subject to risks, uncertainties and
assumptions, including the risks and uncertainties relating to the interpretation of exploration results,
risks related to the inherent uncertainty of exploration and cost estimates and the potential for
unexpected costs and expenses and those other risks filed under the Company's profile on SEDAR
at
www.sedarplus.ca
. There is a possibility that future exploration, development or mining results will
not be consistent with the Company's expectations. 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, failure to
secure personnel and equipment for work programs, adverse weather and climate conditions, failure
to maintain all necessary government permits, approvals and authorizations, decrease in the price of
gold, copper, nickel, uranium and other metals, failure to maintain community acceptance (including
First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual
obligations. The Company does not undertake to update forward–looking statements or forward–
looking information, except as required by law.
SOURCE
SKRR EXPLORATION INC.
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CNW 15:30e 29-DEC-23