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Abacus Mining Announces $1,200,000 financing
VANCOUVER, British Columbia, Feb. 28, 2018 (GLOBE NEWSWIRE) -- Abacus Mining & Exploration Corporation (“Abacus” or the “Company”) (TSX-V:AME) is pleased to ann
About this update from Abacus Mining & Exploration Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 28, 2018 (GLOBE NEWSWIRE) -- Abacus Mining & Exploration Corporation (“Abacus” or the “Company”) (TSX-V:AME) is pleased to announce a non-brokered private placement for proceeds of up to $1,200,000 through the issuance of 6,000,000 units (\"Units\") at a price of $0.20 per Unit. Each Unit will consist of one common share of the Company (a “Unit Share”) and one non-transferable common share purchase warrant, with each warrant exercisable to purchase one common share of the Company at a price of $0.30 per common share for a period of 3 years from the date of closing of the financing. The financing is subject to TSX Venture Exchange (TSXV) approval. No finder's fees are payable on the financing, and all securities issued will be subject to a four month hold period under Canadian securities law. Proceeds from the financing will be applied towards the drill program at the Company’s Willow project in Nevada, and general working capital and corporate purposes. An updated corporate presentation detailing the new drill target on the Willow porphyry copper project is now available on the Company’s website. For further information, please contact Investor Relations at (604) 682-0301. On Behalf of the Board, ABACUS MINING & EXPLORATION CORPORATION Paul G. Anderson President and COO About AbacusAbacus is a mineral exploration and mine development company currently focused on its optioned Willow copper-gold property located near Yerington, Nevada in which it can acquire up to a 75% ownership interest, and the contiguous Nev-Lorraine claims subject to a ten year lease agreement. The Company also holds a 20% ownership interest, together with KGHM Polska Miedz S.A. (80%), in the proposed copper-gold Ajax Mine located southwest of Kamloops, B.C., which has recently undergone a joint provincial and federal environmental assessment process. The Ajax project awaits a final decision from the Federal Cabinet on whether the project can proceed. On December 14, 2017, a decision was made by the B.C. Minister of Environment and Climate Change Strategy and Minister of Energy, Mines and Petroleum resources to decline to issue an environmental assessment certificate for the Project. For the latest reports and information on Abacus’ projects, please refer to the Company’s website at www.amemining.co...