Business
Inflection Resources Announces C$1.5 Million Private Placement
Vancouver, British Columbia – TheNewswire - July 26, 2023: Inflection Resources Ltd. (CSE:AUCU) (OTC:AUCUF) (FSE:5VJ) (the "Company" or "Inflection") is pleased
About this update from Inflection Resources Ltd.
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - July 26, 2023: Inflection Resources Ltd. (CSE:AUCU) (OTC:AUCUF) (FSE:5VJ) (the \"Company\" or \"Inflection\") is pleased to announce that it proposes to undertake a non-brokered private placement (the “Offering”) to raise gross proceeds of up to $1,500,000 through the sale of up to 6,000,000 units (each, a “Unit”) of the Company at a price of $0.25 per Unit. Each Unit consists of one common share and one-half of a share purchase warrant, with each whole warrant exercisable into one further common share at a price of $0.40 for a term of 18 months. All securities issued will be subject to a statutory hold period of four months and one day. The proceeds from the Offering will be used for exploration activities at the Company’s Northern New South Wales and Carron projects in Australia and for general working capital. Finders’ fees may be paid in connection with the Offering in accordance with the policies of the Canadian Securities Exchange (the “CSE”). The Offering is subject to the approval of the CSE. Directors and officers of the Company may acquire securities under the Offering, which will be considered a \"related party transaction\" as defined under Multilateral Instrument 61-101 (\"MI 61-101\"). Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. The offered securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the \"Securities Act\") or any state securities laws and may not be offered or sold to, or for the account or benefit of, any person in the United States or any \"U.S person\", as such term is defined in Regulation S under the Securities Act, absent registration or an applicable exemption from registration requirements. Offers and sales in the United States will be limited to institutional accredited investors and qualified institutional buyers. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. About Inflection Resources Ltd Inflection is a technically driven copper-gold and gold focused mineral exploration company listed on the Cana...