Carmanah Minerals Completes Initial Public Offering and Lists on the Canadian Securities Exchange
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
CARMANAH MINERALS CORP.
Suite 1430 - 800 West Pender Street
Vancouver, British Columbia
V6C 2V6
Carmanah Minerals Completes Initial Public Offering and Lists
on the Canadian Securities Exchange
Vancouver, British Columbia, June 27, 2022: Carmanah Minerals Corp. (the " Company"
or "Carmanah (CSE: CARM) is pleased to announce that on June 27, 2022, it completed its initial
public offering (the " IPO") of 5,750,000 common shares in its capital (each a “Share ”), of which
750,000 Shares were sold pursuant to an over -allotment option, at a price of $0.10 per Share for
gross proceeds of $575,000.
The net proceeds from the IPO will be used for working capital purposes, for general and
administrative purposes, to carry out exploration of the Company's Loljuh Project located in located
in the Omineca Mining Division, British Columbia and payments pursuant to the option agreement in
respect of the Loljuh Project.
Haywood Securities Inc. acted as agent (the " Agent") for the IPO. The Agent received a cash
commission equal to 10% of the gross proceeds of the IPO and a corporate finance fee. Additionally,
the Company granted the Agent, and its selling group, non-transferable compensation options
entitling the holder to purchase an aggregate of 575,000 Shares at a price of $0.10 per Share,
exercisable on or before June 27, 2024.
The Shares were listed on the Canadian Securities Exchange on June 24, 2022, and immediately
halted pending closing of the IPO. The Shares are expected to resume trading on the Canadian
Securities Exchange on June 28, 2022, under the symbol “CARM”.
The offered securities 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 applicable state securities laws and
may not be offered or sold in the United States or to "U.S. persons", as such term is defined in
Regulation S under the U.S. Securities Act, absent such registration or an applicable exemption from
such registration requirements. This news release shall not constitute an offer to sell or the
solicitation of an offer to buy the offered securities in any jurisdiction.
About Carmanah Minerals Corp.
Carmanah is focused on mineral exploration in Canada. It is currently actively exploring the Loljuh
Project located in located in the Omineca Mining Division, British Columbia.
For more information, pleas e refer t o the Company's prospectus dat ed April 4, 2022, availabl e on
SEDAR (www.sedar.com).
On Behalf of the Board of Directors
Latika Prasad
Chief Executive Officer and Director
For further information, please contact:
Latika Prasad
Chief Executive Officer and Director
(604) 723-4343
Forward-Looking Statements:
This news release includes certain forward- looking statements and forward-looking information
(collectively, "forward -looking statements") within the meaning of applicable Canadian securities
legislation. All statements, other than statements of historical fact, included herein including, without
limitation, statements regarding the commencement of trading of the Company’s common shares on
the Canadian Securities Exchange, future capital expenditures, anticipated content, commencement,
and cost of exploration programs in respect of the Company's projects and mineral properties,
anticipated exploration program results from exploration activities, resources and/or reserves on the
Company's projects and mineral properties, and the anticipated business plans and timing of future
activities of the Company, are forward-looking statements. Although the Company believes that such
statements are reasonable, it can give no assurance that such expectations will prove to be correct.
Often, but not always, forward looking information can be identified by words such as "pro forma",
"plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates", "believes", "potential" or variations of such words including negative variations thereof,
and phrases that refer to certain actions, events or results that may, could, would, might or will occur
or be taken or achieved. In making the forward-looking statements in this news release, the Company
has applied several material assumptions, including without limitation, that market fundamentals will
result in sustained precious and base metals demand and prices, the receipt of any necessary
permits, licenses and regulatory approvals in connection with the future exploration of the Company's
properties, that the COVID-19 global pandemic will not affect the ability of the Company to conduct
the exploration program on the Loljuh Project, the availability of financing on suitable terms, and the
Company's ability to comply with environmental, health and safety laws.
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 differ materially from
any future results, performance or achievements expressed or implied by the forward -looking
statements. Such risks and other factors include, among others, statements as to the anticipated
business plans and timing of future activities of the Company, including the Company's option to
acquire the Loljuh Project, the proposed expenditures for exploration work thereon, the ability of the
Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining
governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or
financing, changes in laws, regulations and policies affecting mining operations, risks relating to
epidemics or pandemics such as COVID–19, including the impact of COVID–19 on the Company's
business, financial condition and results of operations, the Company's limited operating history,
currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those
factors discussed under the heading "Risk Factors" in the Company's prospectus dated April 4, 2022,
and other filings of the Company with the Canadian Securities Authorities, copies of which can be
found under the Company's profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forwa rd-looking statements. The Company
undertakes no obligation to update any of the forward-looking statements in this news release except
as otherwise required by law.