Currie Rose Resources Inc. (TSXV: CUI) (“Currie” or the “Company”) is pleased to announce a non-brokered private placement (the “Offering”) for gross proceeds of up to C$1,100,000 from the sale of up to 22,000,000 units of the Company (each, a “Unit”) at a price of C$0.05 per Unit (the “Offering Price”). Red Cloud Securities Inc. will be acting as a finder on behalf of the Company in relation to the Offering.
Each Unit will consist of one common share of the Company (each, a “Unit Share”) and one common share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a “Warrant Share”) at a price of C$0.10 for a period of 24 months following the closing date of the Offering. If the volume-weighted average price of the common shares of the Company on the TSX Venture Exchange over the preceding 20 trading days is greater than C$0.25, the Company can elect to accelerate the term of the Warrants to 30 calendar days following the date a press release announcing the notice of acceleration is provided.
The net proceeds raised the Offering will be used for the exploration of the Company’s recently acquired North Queensland Vanadium Project located in Queensland (Australia) as well as for general working capital purposes.
The Unit Shares and Warrant Shares will be subject to a hold period expiring four months and one day from their date of issuance. A finders fee may be paid on a portion of the proceeds from the Offering. Closing of the Offering is anticipated to occur on or before December 6, 2021 and is subject to customary closing conditions including, but not limited to, the negotiation and execution of subscription agreements and receipt of applicable regulatory approvals, including the approval of the TSX Venture Exchange.
About Currie Rose Resources Inc.
Currie Rose is a publicly-traded precious and battery metal explorer focused on identifying high-value assets in Canada and Australia. Our immediate focus is the advanced North Queensland Vanadium Project in Queensland, Australia.
www.ferroalloynet.com
