Sun Summit Announces Non-Brokered Private Placement of Flow-Through Units and Non-Flow-Through Units
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE
SERVICES
Sun Summit Announces Non-Brokered Private Placement of
Flow-Through Units and Non-Flow-Through Units
Vancouver, B.C. – June 27, 2024: Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF)
(the “Company” or “ Sun Summit”) is pleased to announce that it intends to complete a non-
brokered private placement (the “ Private Placement”) consisting in the issuance of: (i) up to
3,571,429 flow-through units of the Company (each, a “FT Unit”) at a price of $0.21 per FT Unit,
and (ii) up to 1,388,889 non-flow-through units of the Company (each, a “NFT Unit”) at a price of
$0.18 per NFT Unit, for aggregate gross proceeds to the Company of up to $1,000,000.
Each FT Unit will consist of one common share of the Company issued on a flow-through basis
under the Income Tax Act (Canada) and one-half of one Warrant. Each NFT Unit will consist of
one non-flow-through common share of the Company and one-half of one Warrant. Each Warrant
will entitle the holder to acquire one non-flow-through common share of the Company at an
exercise price of $0.25 per share for a period for 24 months from the date of issuance of the
Warrant.
The Company intends to use the proceeds of the Private Placement for exploration and
development of the Company’s mineral property interests in British Columbia, Canada, and for
general working capital purposes. The gross proceeds from the issuance of all flow-through
shares will be used to incur “Canadian exploration expenses” and qualify as “flow-through mining
expenditures” under the Income Tax Act (Canada), which will be renounced to the purchasers of
flow-through shares with an effective date no later than December 31, 2024 in an aggregate
amount no less than the proceeds raised from the issue of the flow-through shares.
The closing of the Private Placement is subject to certain closing conditions, including the
approval of the TSX Venture Exchange. The securities issued in the Private Placement will be
subject to a four-month hold period in accordance with applicable securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in the United States or in any other jurisdiction in which such
offer, solicitation or sale would be unlawful. The securities have not been registered under the
United States Securities Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or an applicable exemption from the registration requirements
thereunder.
About Sun Summit
Sun Summit Minerals (TSX-V: SMN; OTCQB: SMREF) is a mineral exploration company focused
on expansion and discovery of district scale gold and copper assets in British Columbia. The
Company’s diverse portfolio includes the JD Project in the Toodoggone region of north-central
B.C. and the Buck Project in central B.C.
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Sun Summit is committed to environmental and social responsibility, with a focus on accountable
development and building respectful and beneficial relationships with Indigenous and local
communities.
Further details are available at www.sunsummitminerals.com.
On behalf of the board of directors
Brian Lock
Executive Chairman
For further information, contact:
Sharyn Alexander
President
Matthew Benedetto
Simone Capital
Tel. 416-817-1226
Forward Looking Information
Statements contained in this news release that are not historical facts may be forward-looking statements,
which involve risks, uncertainties and other factors that could cause actual results to differ materially from
those expressed or implied by such forward-looking statements. In addition, the forward-looking statements
require management to make assumptions and are subject to inherent risks and uncertainties. There is
significant risk that the forward-looking statements will not prove to be accurate, that the management’s
assumptions may not be correct and that actual results may differ materially from such forward-looking
statements. Accordingly, readers should not place undue reliance on the forward-looking statements.
Generally forward-looking statements can be identified by the use of terminology such as “anticipate”, “will”,
“expect”, “may”, “continue”, “could”, “estimate”, “forecast”, “plan”, “potential” and similar expressions.
Forward-looking statements contained in this press release may include, but are not limited to, the terms
and completion of the Private Placement, the renouncement of exploration expenditures, use of proceeds
and obtaining regulatory approval for the Private Placement. These forward-looking statements are based
on a number of assumptions which may prove to be incorrect which, without limiting the generality of the
following, include: the state of the equity financing markets in Canada and other jurisdictions; the receipt of
regulatory approval; volatility and sensitivity to market prices; volatility and sensitivity to capital market
fluctuations; changes in tax legislation; and fluctuations in metal prices. The forward-looking statements
contained in this press release are made as of the date hereof or the dates specifically referenced in this
press release, where applicable. Except as required by applicable securities laws and regulation, Sun
Summit disclaims any intention or obligation to update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise, except as required by applicable securities laws. All
forward-looking statements contained in this press release are expressly qualified by this cautionary
statement.
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.