Murchison Announces Proposed $600,000 Private Placement

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[{"type":"text","content":"Murchison Announces Proposed $600,000 Private PlacementThis news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United StatesTORONTO, ON / ACCESSWIRE / June 3, 2019 / Murchison Minerals Ltd. (\"Murchison\" or the \"Company\") (TSXV: MUR) announces that it proposes to complete a non-brokered private placement of up to 5,454,545 flow-through common shares (the \"FT Shares\") at a price of $0.11 per FT Share, for gross proceeds of up to $600,000 (the \"Private Placement\"). A portion of the FT Shares may be sold on a charitable flow-through basis. The FT Shares will qualify as a \"flow through share\" for purposes of the Income Tax Act (Canada).Net proceeds from the Private Placement will be used for exploration of the Company's Brabant-McKenzie project in Saskatchewan, and for working capital and general corporate purposes. Certain directors and officers of the Company may acquire securities under the Private Placement. Any such participation would be considered to be a \"related party transaction\" as defined under Multilateral Instrument 61-101 (\"MI 61-101\"). The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 based on a determination that the securities of the Company are listed on the TSX Venture Exchange (\"TSXV\") and that the fair market value of the Private Placement, insofar as it involves interested parties, does not exceed 25% of the market capitalization of the Company. The Private Placement was approved by all independent directors of the Company.A finder's fee may apply to a portion of the proceeds raised under the Private Placement pursuant to which the finder will be paid a finder's fee equal to 6% of the gross proceeds of the Private Placement. All securities issued under the Private Placement will be subject to a four month hold period. Closing of the Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSXV.About the Brabant-McKenzie Project:The Brabant-McKenzie project is located 175 kilometres northeast of La Ronge, Saskatchewan and approximately three kilometres from the community of Brabant Lake. The area is accessed year-round via provincial High...

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