PEAK Minerals Announces Closing of Second and Final Tranche of Private Placement of Common Shares
PEAK MINERALS ANNOUNCES CLOSING OF SECOND AND FINAL TRANCHE OF
PRIVATE PLACEMENT OF COMMON SHARES
Not for distribution to United States newswire services or for
dissemination in the United States.
Vancouver, British Columbia , October 24, 2024, Peak Minerals Ltd. (CSE: PEK) (the “ Company”) is
pleased to announce that, further to its news relea se dated October 22, 2024, it has closed the second
and final tranche (the “Closing”) of its previously announced non-brokered private placement financing
(the “Offering”) of 5,000,000 common shares of the Company (“Common Shares”) at a price of C$0.05
per Common Share (the “Offering Price”) for aggregate gross proceeds of C$250,000. Pursuant to this
Closing, the Company issued an aggregate of 615,000 Common Shares at the Offering Price for aggregate
gross proceeds from the Closing of C$30,750.
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 intends to use the net proceeds of t he Offering for general working capital and corporate
expenses.
The closing of the Offering is subject to certai n conditions including, but not limited to, the receipt of all
necessary approvals and the submission of all required forms to the Canadian Securities Exchange.
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 av ailable 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, no r 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.
The Company als o announces the issuance of an aggregate of 200,000 incentive stoc k options
(the “Options”) to certain directors of the Company under the Company’s omnibus equity incentive plan.
Upon vesting, each Option shall be exercisable to acquire one common share for a period of 2 years
at an exercise price of $0.10.
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 Projec t. The Aida Property c onsists of 5 mineral 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
38402309v1
38402309v1
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 comp letion 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 t he 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
the environment in which the Company wil l 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 statem ents reflects the Company’s views with respect to future events and is subject to risks,
uncertainties and assumptions, including the risks and un certainties included in in documents filed under the
Company’s profile on SEDAR+ at www.s edarplus.ca. While such estimates and assumptions are considered
reasonable by the management of t he Company, they are inherently subjec t to significant business, economic,
competitive, and regulatory uncertainties and risks. Factors that could cause actu al results to differ materially from
those in forward looking information or statements include, but are not limited to, the ability of the Company to complete
the Offering on the terms described herein, including obtaining the requisite regulatory and stock exchange approvals,
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 authorizations, 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.