Peat Resources Limited Announces Increase in Size of Private Placement

About this update from Enerev5 Metals Inc.

[{"type":"text","content":"Peat Resources Limited Announces Increase in Size of Private PlacementToronto, Ontario--(Newsfile Corp. - January 3, 2018) - Peat Resources Limited (TSXV: PET) (the \"Company\"), announces that the Company is increasing the size of its previously announced brokered private placement (the \"Offering\") of common shares of the Company led by IBK Capital Corp. The Offering will now consist of the sale of up to 15,000,000 common shares at a price of $0.05 per share for aggregate proceeds of the up to $750,000.In connection with the Offering, the Company has agreed to pay IBK Capital Corp. a cash commission equal to 9% of the amount raised and broker warrants equal to 10% of the number of common shares issued pursuant to the Offering. Each broker warrant is exercisable into one common share at a price of $0.05 per common share for a period of five years from the date of issuance. The securities to be issued in connection with the Offering will be subject to a statutory four-month hold period from the date of issuance. The closing of the Offering remains subject to completion of formal documentation and receipt of regulatory approvals, including the approval of the TSX Venture Exchange.For additional information, please contact:Peat Resources LimitedPatricia MannardTelephone: (416) 862-7885Email: [email protected]: www.peatresources.netIBK Capital Corp.Michael White, President & CEOTelephone: (416) 360-4511Email: [email protected] Information This release includes certain statements that may be deemed \"forward-looking statements\". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, mark...

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