Toronto, Ontario--(Newsfile Corp. - June 5, 2019) - MinKap Resources Inc. (TSXV: KAP) ("MinKap" or the "Company") announces that it intends to complete a private placement offering of up to 4,000,000 units ("Units") at a price of $0.05 per Unit, for gross proceeds of up to $200,000 (the "Offering").
Each Unit will consist of one common share (each, a "Common Share") and one common share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder thereof to purchase one additional Common Share at a price of $0.10 for a period of twenty-four (24) months from the date of issuance. All securities to be issued under the Offering will be subject to a four month and one day statutory hold period.
The Company intends to use the proceeds from the Offering for general working capital purposes.
The closing of the Offering is anticipated to take place on or about June 21, 2019, or such other later date as the Company may agree. The closing is subject to receipt of all approvals required by the parties, including that of the TSX Venture Exchange.
On behalf of the Board of Directors
MinKap Resources Inc.
President & CEO
Phone 1 (416) 708-0243
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "anticipates", "expected to", "plans", "planned" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company's management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.
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