non-flow-through basis (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one
SLAM Increases Private Placement up to $650,000
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
/
MIRAMICHI, NB
,
Dec. 12, 2017
/CNW/ -
SLAM Exploration Ltd. (TSXV: SXL) (the "Company")
announces an increase in its private
placement with an additional 1,500,000 non-flow-through units (the "Units") and an additional 1,500,000 flow-through units (the "FT Units"). The
increased private placement will now comprise up to 3,500,000 non-flow-through units a price of
$0.05
per Unit and up to 9,500,000 flow-
through units (the "FT Units") at a price of
$0.05
per FT Unit for gross proceeds of up to
$650,000
(the "Private Placement"). Each Unit will be
comprised of one common share in the capital of the Company and one common share purchase warrant. Each FT Unit will be comprised of one
common share in the capital of the Company issued on a "flow-through" basis and one-half of one common share purchase warrant issued on a
non-flow-through basis (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one
non-flow-through common share at a price of
$0.055
for a period of 36 months from the date of issuance. The Units and FT Units are subject to a
four-month and one day hold period from the date of issuance.
The Private Placement is offered to investors on a non-brokered basis and expected to close on or about
December 15
, 2017. The Company may
pay finders' fees in accordance with the rules and policies of the TSX Venture Exchange ("TSXV"). There may be Insider participation for which a
finder's fee will not be paid. The Private Placement remains subject to the approval of the TSXV. For additional information call
Mike Taylor
at
506-623-8960.
Proceeds received from the Units will be used for general corporate purposes. Proceeds received from the FT Units will be used to fund
exploration on SLAM's cobalt and base metal projects in New Brunswick.
About SLAM Exploration Ltd:
SLAM is a project generating company that holds an NSR royalty on the Coulee, Superjack and
Nash Creek
zinc-lead-copper-silver deposits
and owns a portfolio of cobalt and base metal properties in the Bathurst Mining Camp ("BMC") of
New Brunswick
. The Company intends to
utilize its extensive BMC mineral database to explore and develop properties in this historic mineral-rich region. Other projects include the
Menneval gold project and the Reserve Creek gold projects in
Ontario
. Additional information about SLAM and its projects is available at
www.slamexploration.com
or from SEDAR filings at
www.sedar.com
. Follow us on twitter @SLAMGold.
Qualifying Statements:
Mike Taylor
, P.Geo. President and CEO of SLAM Exploration Ltd., as the Qualified Person, approves the scientific
and technical disclosure in the news release.
Certain information in this press release may constitute forward-looking information, including statements
that address the Private
Placement, the closing of the Private Placement, future production, reserve
potential, exploration and development activities and events
or developments that the Company expects.
This information is based on current expectations that are subject to significant risks and
uncertainties
that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking
statements.
The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ
from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. There are
a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and
uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at
www.sedar.com
. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE
SLAM Exploration Ltd.
View original content: http://www.newswire.ca/en/releases/archive/December2017/12/c7431.html
%SEDAR: 00012459E
For further information:
Mike Taylor, President & CEO, Contact: 506-623-8960, [email protected]; Eugene Beukman, CFO,
Contact: 604-687-2038, [email protected]
CO: SLAM Exploration Ltd.
CNW 13:01e 12-DEC-17