Toronto, Ontario – Currie Rose Resources Inc. (TSXV: CUI) (‘Currie Rose’ or the ‘Company’) is pleased to announce a non-brokered private placement (the ‘Offering’) for gross proceeds of up to C$2,400,000, comprising up to 80,000,000 units of the Company (each, a ‘Unit’) at a price of C$0.03 per Unit, each Unit comprised of one common share and one half of one (1/2) common share purchase warrant (a ‘Warrant’).
Each full Warrant will be exercisable to purchase an additional share of the Company at a price of C$0.05 for a period of two years from the closing date of the Offering (the Closing Date’). 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$0.15, 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 issued.
The Company is relying on the minimum pricing amendments announced by the TSX Venture Exchange (‘TSXV’) on June 23, 2022 (the ‘Pricing Amendment’) in offering the Units at a price that is less than $0.05. All securities issued under the Offering will be subject to a TSXV hold period in addition to the restricted period under applicable securities laws and will be legended accordingly.
Of the total proceeds to be raised, $220,000 is expected to be paid to Non-Arm’s Length Parties, up to $60,000 toward Investor Relations Activities, and the balance to be used to further exploration, resource confirmation and geological sampling & testing and for general working capital purposes as set out below.
Closing of the Offering is anticipated to be completed on or about September 28, 2022 and is subject to the approval of the TSX-V and other customary closing conditions. There can be no assurances that the Offering will be completed on the terms set out herein, or at all, or that the proceeds of the Offering will be sufficient for the uses of proceeds as set out above.
In connection with the Offering and subject to compliance with the policies of the TSXV, the Company may pay finders’ fees of up to 6% cash and 6% non-transferable warrants to eligible parties.
The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This news release does not constitute an offer for sale of securities in the United States.
About Currie Rose Resources Inc.
Currie Rose is a publicly traded battery metals explorer and developer focused on identifying high-value assets in mining-friendly jurisdictions. The Company’s immediate focus is the advanced North Queensland Vanadium Project in Queensland, Australia. Please visit our website at www.currierose.com.
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