Business
Salazar Resources Announces Closing of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - August 29, 2024) - SALAZAR RESOURCES LIMITED ...
About this update from Salazar Resources Limited
[{"type":"text","content":"Salazar Resources Announces Closing of Private PlacementVancouver, British Columbia--(Newsfile Corp. - August 29, 2024) - SALAZAR RESOURCES LIMITED (TSXV: SRL) (OTCQX: SRLZF) (FSE: CCG) (\"Salazar\" or the \"Company\") is pleased to announce the closing of the non-brokered private placement financing (the \"Private Placement\") announced on August 20, 2024. The Company has issued a total of 7,140,000 shares (the \"Shares\") at a price of $0.07 per Share to raise $499,800.All securities issued in the Private Placement are subject to a four-month hold period and to all necessary regulatory approvals, including the final acceptance of the TSX Venture Exchange. No finder's fees are payable on the Private Placement and proceeds will be used for working capital and exploration.Certain insiders of the Company participated in the Offering and purchased an aggregate of 1,671,000 Shares. Participation of the insiders in the Offering constituted a \"related party transaction\" as defined under Multilateral Instrument 61‐101 - Protection of Minority Security Holders in Special Transactions (\"MI 61‐101\"), but was exempt from the formal valuation and minority shareholder approval requirements of MI 61‐101, as neither the fair market value of the securities issued to the insider nor the consideration paid by the insider exceeded 25% of the Company's market capitalization. None of the Company's directors expressed any contrary views or disagreements with respect to the foregoing. The Company did not file a material change report 21 days prior to the closing of the Offering as the details of the participation of the insiders of the Company had not been confirmed at that time.This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or the securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and applicable ...