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Churchill Resources Announces Non-Brokered Private Placement of up to C$1 Million of Flow-Through Shares
TORONTO, June 02, 2023 (GLOBE NEWSWIRE) -- Churchill Resources Inc. (“Churchill” or the “Company”) (TSXV: CRI) is pleased to announce a best-efforts, non-broker
About this update from Churchill Resources Inc
[{"type":"text","content":" TORONTO, June 02, 2023 (GLOBE NEWSWIRE) -- Churchill Resources Inc. (“Churchill” or the “Company”) (TSXV: CRI) is pleased to announce a best-efforts, non-brokered private placement (the “Offering”) of up to C$1,000,000 from the sale of up to 9,090,909 common shares in the capital of the Company, each to be issued on a “flow-through” basis (each, an “FT Share”) within the meaning of the Income Tax Act (Canada) (the “Tax Act”) at a price of C$0.11 per FT Share. The Company intends to use the gross proceeds from sale of the FT Shares for exploration activities on the Company's key projects located in Newfoundland and Labrador and to incur eligible Canadian Exploration Expenses (within the meaning of the Tax Act) that will qualify for qualify for the federal 30% Critical Mineral Exploration Tax Credit. The Offering is scheduled to close on or around June 12, 2023, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange (the “TSXV”). The Company may pay a cash fee to certain eligible finders of up to 5.0% of the aggregate gross proceeds of subscriptions facilitated by such finders pursuant to the Offering. About Churchill Resources Inc. Churchill Resources Inc. is a Canadian exploration company focused on high grade, magmatic nickel sulphides in Canada, principally at its prospective Taylor Brook and Florence Lake properties in Newfoundland & Labrador. The Churchill management team, board and its advisors have decades of combined management experience in mineral exploration and in the establishment of successful publicly listed mining companies, both in Canada and around the world. Churchill’s Taylor Brook and Florence Lake projects have the potential to benefit from the province’s large and diversified minerals industry, which includes world class nickel mines and processing facilities, and a well-developed mineral exploration sector with locally based drilling and geological expertise. The province was recently ranked 4th in the world for investment attractiveness by the Fraser Institute in its 2022 annual survey of mining and exploration companies. Further Information For further information regarding Churchill, please contact: Churchill Resources Inc.Paul Sobie, Chief Executive OfficerTel.  ...