1111 Exploration Corp. Announces Financings
Date: October 25, 2022
News Release: 22-03
Not for dissemination in the United States or through U.S. newswires
1111 EXPLORATION CORP. ANNOUNCES FINANCINGS
VANCOUVER, B.C. - October 25, 2022 - 1111 Exploration Corp. (ELVN - CSE) is pleased to announce
a non-brokered private placement of up to $725,000 (the “Private Placement”).
The Private Placement will consist of the issuance of a minimum of 6,000,000 shares to a maximum of
12,000,000 shares (the “Non-FT Shares”) at a price of $0.05 per Non-FT Share, for gross proceeds of
up to $600,000, and up to 1,562,500 flow -through shares (the “FT Share”) at a price of $0.08 per FT
Share, for gross proceeds of up to $125,000.
Each FT Share will be comprised of one Share, to be issued as a “flow -through share” within the
meaning of the Income Tax Act (Canada).
The Company may pay a finder’s fee on the Offering within the maximum amount permitted by the
policies of the exchange. The Company may complete multiple closings of the Offering, as subscriptions
are received. Each closing is subject to a number of conditions, including receipt of all necessary
corporate and regulatory approvals.
Closing of the Private Placement is subject to certain customary conditions, including, without limitation,
approval of the CSE. The securities to be issued under the Private Placement will be offered by way of
private placement in the provinces of British Columbia, Alberta and Ontario and such other provinces or
territories of Canada as may be determined by the Company, in each case, pursuant to applicable
exemptions from the prospectus requirements under applicable securities laws. Securities issued under
the Private Placement will be subject to a hold period which will expire four months and one day from
the date of closing of the Private Placement. The Private Placement will be available under the
accredited investor exemption as well as the existing shareholder exemption.
The Company intends to use the proceeds to advance the exploration on its optioned Pinnacle Property,
to review and complete due diligence on other potential exploration projects, and general and
administration costs.
About 1111 Exploration Corp.:
1111 Exploration Corp. is a Canadian mineral exploration company focused on creating shareholder
value through exploration, acquisition, and development of mineral projects.
On behalf of the Board of Directors
Scott Young
Director
For further information, please call:
Scott Young
604-377-5781
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Neither CSE Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward -looking statements that are subject to risks and uncertainties. All statements within,
other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ materially from those in forward-looking statements. Factors
that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation
and exploration succes ses, continued availability of capital and financing, and general economic, market or business
conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely
on their own evaluation of such unce rtainties. We do not assume any obligation to update any forward -looking statements
except as required under the applicable laws.