Matamec Announces a Non-Brokered Private Placement
July 13, 2017 (Source) – Matamec Explorations Inc. (“Matamec” or the “Company”) (TSX VENTURE:MAT)(OTCQB:MHREF) announces that it will effect a non-brokered private placement in a maximum amount of $499,999 by issuing a maximum of 6,666,666 “flow-through” common shares at a price of $0.075 per share.
In connection with the private placement, Matamec may pay a cash sales commission to various securities dealers in an aggregate amount of 8% of the gross proceeds of the private placement. In addition, Matamec may grant finders’ options to various securities dealers entitling the holders to acquire additional common shares in an aggregate amount representing 6% of the total number of common shares issued and sold in the private placement. The finders’ options may be exercised at a price of $0.075 for a period of 24 months from the closing date of the private placement, which is expected to take place on or before August 11, 2017.
Located in Montreal (Québec), Matamec Explorations Inc. is a junior mining exploration company in which activities are based on two main axes of development: gold, and technology metals related to energy with properties containing, among others, lithium (Tansim-owned at 100%), Cobalt (Fabre-100% owned), nickel (Vulcain-100% owned) and rare earths (Kipawa-72% owned by Matamec).
Matamec’s main focus is the development of the Kipawa Heavy Rare Earth Elements (HREE) deposit, a joint venture owned at 72% by Matamec and 28% by Ressources Québec (acting as agent of the Government of Québec); Toyota Tsusho Corp. (Nagoya, Japan) holds a 10% royalty on net profit in the deposit.
In addition to the activities in energy sector, Matamec is exploring for gold, with two properties (Matheson JV (50%) and Pelangio (100%)) located in the area of the Hoyle Pond Mine in Timmins, ON, as well as three in the Quebec Plan Nord region in similar geological settings as established gold-producing mines. These include two in proximity to the Éléonore Mine (in James Bay, QC): Sakami (50%) and Opinaca Gold West (100%).
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This news release contains “forward-looking information” within the meaning of Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “scheduled”, “anticipates”, “expects” or “does not expect”, “pursue”, “targeted”, or “believes”, or variations of such words and phrases that state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Although Matamec has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in orward-looking statements include, but are not limited to, the uncertainty as to whether the Kipawa JV will decide to extract minerals from the Kipawa Deposit, as well as those other risk factors set out in the Company’s year-end Management Discussion and Analysis dated December 31, 2016 and other disclosure documents available under the Company’s profile at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Matamec disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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