Abasca Resources Announces Non-Brokered Flow-Through Private Placement of up to C$1.0 Million

About this update from Abasca Resources Inc.

[{"type":"text","content":"Abasca Resources Announces Non-Brokered Flow-Through Private Placement of up to C$1.0 MillionSASKATOON, SK / ACCESSWIRE / May 30, 2023 / Saskatoon, Saskatchewan: Abasca Resources Inc. (\"Abasca\" or the \"Company\") (TSX V:ABA) is pleased to announce a non-brokered private placement of up to 2,000,000 flow-through units of the Company (the \"FT Units\") at a price of C$0.50 per FT Unit for gross proceeds to the Company of up to C$1,000,000 (the \"Offering\").Each FT Unit will consist of one common share of the Company to be issued as a \"flow-through share\" within the meaning of the Income Tax Act (Canada) (each, a \"FT Share\") and one half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one common share (each, a \"Warrant Share\") at a price of C$0.60 for a period of 24 months following the closing date of the Offering.The gross proceeds received from the sale of the FT Units will be used for exploration programs on the Company's Key Lake South Uranium Project (KLS).Finders' fees comprised of cash and non-transferable warrants in connection with the Offering will be paid, if applicable and subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the \"1933 Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.About Abasca Resources Inc.Abasca is a mineral exploration company that is primarily engaged in the acquisition and evaluation of mineral exploration properties. The Company owns the Key Lake South Uranium Project, a 23,977-hectare uranium exploration project located in the Athabasca Basin Region in northern Saskatchewan, approximately 15 km south of the former Key Lake mine and current ...

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