PEAK Minerals Announces Closing of Private Placement of Common Shares
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PEAK MINERALS ANNOUNCES CLOSING OF
PRIVATE PLACEMENT OF COMMON SHARES
Not for distribution to United States newswire services or for
dissemination in the United States.
Vancouver, British Columbia, December 12, 2024, Peak Minerals Ltd. (CSE: PEK) (the “Company”) is
pleased to announce that, further to its news release dated November 8, 2024, it has closed the previously
announced non-brokered private placement financing (the “Offering”). The Company has upsized the
Offering and ultimately closed on 12,845,000 common shares of the Company (“Common Shares”) at a
price of C$0.25 per Common Share (the “Offering Price”) for aggregate gross proceeds of C$3,211,250.
The Offering was over-subscribed by an aggregate of C$1,211,250.
The Common Shares sold pursuant to the Offering will be subject to a four-month hold period pursuant to
securities laws in Canada. The Company issued 277,800 broker warrants (“Broker Warrants”) and paid
$69,450 in cash with respect to a portion of the Offering. The Broker Warrants will be exercisable at a
price of $0.25 per Broker Warrant, expiring 12 months from the date of issuance.
The Company intends to use the net proceeds of the Offering for general working capital and corporate
expenses.
The securities of the Company have not been, and will not be, registered under the U.S. 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 absent registration or an available exemption from the registration requirements
of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of the securities referenced
in this press release, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Peak Minerals
Peak Minerals Ltd. is engaged in the business of mineral exploration and the acquisition of mineral property
assets in Canada. Its objective is to locate and develop economic precious and base metal properties of
merit and to conduct its exploration on the Aida Project. The Aida Property consists of 5 mi neral claims
covering an area of 2,335.42 ha located on the Shuswap Highland within the Kamloops Mining Division.
On Behalf of the Board of Directors
Jonathan Yan
Interim Chief Executive Officer and Director
For further information, please contact:
Jonathan Yan
Interim Chief Executive Officer and Director
(604) 723-4343
Cautionary Statement Regarding 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 terms and completion of the Offering, the use of
proceeds of the Offering, the receipt of regulatory and stock exchange approval in respect of the Offering, the technical,
financial, and business prospects of the Company, its assets 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 information or statements. Although the Company believes the expectations expressed in such forward-
looking information or 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 information or statements. Such
statements and information are based on numerous assumptions regarding present and future business strategies and
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the environment in which the Company will operate in the future, the ability to achieve its goals , expected costs and
timelines to achieve the Company’s goals, that general business and economic conditions will not change in a material
adverse manner, and that financing will be available if and when needed and on reasonable terms. Such forward
looking information or statements reflects the Company ’s views with respect to future events and is subject to risks,
uncertainties and assumptions, including the ris ks and uncertainties included in in documents filed under the
Company’s profile on SEDAR + at www.sedar plus.ca. While such estimates and assumptions are considered
reasonable by the management of the Company, they are inherently subject to significant business, economic,
competitive, and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from
those in forward looking information or statements include, but are not limited to, the submission of all required
documents by the Company to the Canadians Securities Exchange, continued availability of capital and financing and
general economic, market or business conditions, failure to compete effectively with competitors, failure to maintain or
obtain all necessary permits, approvals and authorizat ions, failure to comply with applicable laws , including
environmental laws, risks relating to unanticipated operational difficulties. The Company does not undertake to update
forward looking statements or forward-looking information, except as required by law.