Vancouver, British Columbia–(Newsfile Corp. – May 9, 2023) – SASQUATCH RESOURCES CORP. (CSE: SASQ) (“Sasquatch” or the “Company”) is pleased to announce that it will be conducting a non-brokered private placement (the “Offering”) under which it will raise aggregate gross proceeds of up to $175,000.
The Offering will consist of the issuance of: up to 2,000,000 units (each, a “Unit”) at a price of $0.05 per Unit for gross proceeds of $100,000; and up to 1,071,429 flow-through units (each, an “FT Unit”) at a price of $0.07 per FT Unit for gross proceeds of up to $75,000. Each Unit will consist of one common share of the Company and one share purchase warrant (each, a “Warrant”, entitling the holder to purchase one common share at a price of $0.10 per common share for a period of twenty-four (24) months from the date of issuance). Each FT Unit will consist of one “flow-through” common share of the Company and one Warrant. The Company intends to use the proceeds from the sale of the Units for general working capital. The proceeds received by the Company from the sale of FT Units will be used to incur eligible “Canadian exploration expenses” (“CEE”) that are “flow-through mining expenditures” (as such term is defined in the Income Tax Act (Canada)).
The Company may pay finder’s fees in connection with the Offering. Securities issued under the Offering will be subject to a four month hold period in accordance with applicable Canadian securities laws. Insiders of the Company are expected to participate in the Offering.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
About the Company
Sasquatch Resources Corp. is a mineral exploration company focused on its Mount Sicker Property in southern Vancouver Island, British Columbia. For further information, please refer to the Company’s disclosure record on SEDAR (www.sedar.com) or contact the Company by email at firstname.lastname@example.org or by telephone at 778.999.7030.
On Behalf of the Board of Directors
Chief Executive Officer
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forward-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company’s business plans respecting the exploration and development of the Mount Sicker Property, the proposed work program on the Mount Sicker Property and the potential and economic viability of the Mount Sicker Property. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The CSE has not reviewed, approved or disapproved the contents of this news release.
Not for distribution to United States news wire services or for dissemination in the United States
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