Salazar Resources Announces Closing of Private Placement
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Salazar Resources Announces Closing of Private Placement
VANCOUVER, BRITISH COLUMBIA, AUGUST 29, 2024 -- SALAZAR RESOURCES LIMITED (TSXV: SRL;
OTCQX: SRLZF; Frankfurt: CCG.F) (“Salazar” or the "Company") is pleased to announce the closing of the
non-brokered private placement financing (the “Private Placement”) announced on August 20, 2024. The
Company has issu ed a total of 7 ,140,000 shares (the “ Shares”) at a price of $0.0 7 per Share to raise
$499,800.
All securities issued in the Private Placement are subject to a four-month hold period and to all necessary
regulatory approvals, including the final acceptance of the TSX Venture Exchange. N o finder's fee s are
payable on the Private Placement and proceeds will be used for working capital and exploration.
Certain insiders of the Company participated in the Offering and purchased an aggregate of 1,671,000
Shares. Participation of the insiders in the Offering constituted a "related party transaction" as defined
under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special
Transactions ("MI 61-101"), but was exempt from the formal valuation and minority shareholder approval
requirements of MI 61-101, as neither the fair market value of the securities issued to the insider nor the
consideration paid by the insider exceeded 25% of the Company's market capitalization. None of the
Company's directors expressed any contrary views or disagreements with respect to the foregoing. The
Company did not file a material change report 21 days prior to the closing of the Offering as the details of
the participation of the insiders of the Company had not been confirmed at that time.
This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be
any sale of any of the Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Shares have not been, and wil l not be, registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or the securities laws of any state of the United States, and may not
be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in
Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and applicable
state securities laws or an exemption from such registration requirements.
About Salazar Resources
Salazar Resources Limited is focused on creating value and positive change through discovery, exploration,
and development in Ecuador. The team has an unrivalled understanding of the geology in -country and
has played an integral role in the discovery of many of the major projects in Ecuador, including the two
newest operating gold and copper mines.
Salazar Resources has a wholly owned pipeline of copper-gold exploration projects across Ecuador with a
strategy to make another commercial discovery and farm -out non -core assets. The Company actively
engages with Ecuadorian communities and together with t he Salazar family it co -founded The Salazar
Foundation, an independent non-profit organization dedicated to sustainable progress through economic
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development. The Company already has carried interests in three projects. At its maiden discovery,
Curipamba, Salazar Resources has a 25% stake fully carried through to production. At two copper- gold
porphyry projects, Pijili and Santiago, the Company has a 20% stake fully carried through to a construction
decision.
For further information from Salazar Resources, please contact Nick DeMare, Director, at
[email protected] or at 604-685-9316. Please also visit the Salazar Resources website at
www.salazarresources.com.
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 news release.